2006 OASDI Trustees Report

Contents Previous Next List of Tables List of Figures Index

VI. APPENDICES

C. FISCAL YEAR HISTORICAL DATA AND
PROJECTIONS THROUGH 2015

Tables VI.C1, VI.C2, and VI.C3 present detailed operations of the OASI, DI, and the combined OASI and DI Trust Funds, respectively, for fiscal year 2005, the most recent fiscal year for which complete actual information is available. These tables are similar to the calendar year operations tables in section III.A. Please see that section for a description of the various items of income and outgo.

Table VI.C1.-Operations of the OASI Trust Fund, Fiscal Year 2005 

[In millions]


Total assets, September 30, 2004
 
$1,452,550
Receipts:
 
Contributions:
   
   
Employment taxes
$505,212
 
   
Payments from the General Fund of the Treasury for contributions subject to refund
-2,213
 
     
Net contributions
 
502,998
 
Income based on taxation of benefit payments:
   
   
Withheld from benefit payments to nonresident aliens
146
 
   
All other, not subject to withholding
15,186
 
     
Total income from taxation of benefits
 
15,332
 
Reimbursement from the general fund for costs of payments to unin-
sured persons who attained age 72 before 1968
 
1/
 
Investment income and interest adjustments:
   
   
Interest on investments
81,708
   
Interest adjustments 2
-46
 
     
Net investment income and interest adjustments
 
81,662
 
Gifts
 
1/
Total receipts
 
599,992
Disbursements:
   
 
Benefit payments:
   
   
Gross benefit payments
431,469
 
   
Offset for collected overpayments
-1,041
 
   
Reimbursement from the general fund for unnegotiated checks
-48
 
     
Net benefit payments
 
430,381
 
Transfer to the Railroad Retirement "Social Security Equivalent Benefit Account"
 
3,579
 
Payment for costs of vocational rehabilitation services for disabled beneficiaries
 
58
 
Administrative expenses:
   
   
Costs incurred by:
   
     
Social Security Administration
2,348
 
     
Department of the Treasury
566
 
   
Offsetting receipts from sales of supplies, materials, etc.
-5
 
   
Miscellaneous reimbursements from the general fund 3
-8
 
     
Net administrative expenses
 
2,900
Total disbursements
 
436,919
Net increase in assets
 
163,073
Total assets, September 30, 2005
 
1,615,623

1Less than $500,000.

2Includes (1) interest on transfers between the trust fund and the general fund account for the Supplemental Security Income program due to adjustments in the allocation of administrative expenses, (2) interest arising from the revised allocation of administrative expenses among the trust funds, (3) interest on certain reimbursements to the trust fund, and (4) interest on a transfer to the DI Trust Fund for the cost of vocational rehabilitation services that had been erroneously charged to that fund.

3Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI program.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C2.-Operations of the DI Trust Fund, Fiscal Year 2005 

[In millions]


Total assets, September 30, 2004
 
$182,893
Receipts:
   
 
Contributions:
   
   
Employment taxes
$85,790
 
   
Payments from the General Fund of the Treasury for contributions subject to refund
-372
 
     
Net contributions
 
85,418
 
Income based on taxation of benefit payments:
   
   
Withheld from benefit payments to nonresident aliens
5
 
   
All other, not subject to withholding
1,159
 
     
Total income from taxation of benefits
 
1,164
 
Investment income and interest adjustments:
   
   
Interest on investments
10,128
 
   
Interest adjustments1
55
 
     
Total investment income and interest adjustments
 
10,183
Total receipts
 
96,765
Disbursements:
   
 
Benefit payments:
   
   
Gross benefit payments
84,293
 
   
Offset for collected overpayments
-539
 
   
Reimbursement from the general fund for unnegotiated checks
-21
 
     
Net benefit payments
 
83,733
 
Transfer to the Railroad Retirement "Social Security Equivalent Benefit Account"
 
338
 
Payment for costs of vocational rehabilitation services for disabled beneficiaries
 
-12
 
Administrative expenses:
   
   
Costs incurred by:
   
     
Social Security Administration
2,204
 
     
Department of the Treasury
99
 
   
Miscellaneous reimbursements from the general fund 2
-2
 
     
Net administrative expenses
 
2,301
Total disbursements
 
86,360
Net increase in assets
 
10,405
Total assets, September 30, 2005
 
193,298

1Includes (1) interest on transfers between the trust fund and the general fund account for the Supplemental Security Income program due to adjustments in the allocation of administrative expenses, (2) interest arising from the revised allocation of administrative expenses among the trust funds, (3) interest on certain reimbursements to the trust fund, and (4) interest on a transfer to the DI Trust Fund for the cost of vocational rehabilitation services that had been erroneously charged to that fund.

2Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the DI program.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C3.-Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2005 

[In millions]


Total assets, September 30, 2004
 
$1,635,443
Receipts:
   
 
Contributions:
   
   
Employment taxes
$591,002
 
   
Payments from the General Fund of the Treasury for contributions subject to refund
-2,585
 
     
Net contributions
 
588,417
 
Income based on taxation of benefit payments:
   
   
Withheld from benefit payments to nonresident aliens
150
 
   
All other, not subject to withholding
16,345
 
     
Total income from taxation of benefits
 
16,495
 
Reimbursement from the general fund for costs of payments to unin-
sured persons who attained age 72 before 1968
 
1/
 
Investment income and interest adjustments:
   
   
Interest on investments
91,837
 
   
Interest adjustments2
9
 
     
Total investment income and interest adjustments
 
91,845
 
Gifts
 
1/
Total receipts
 
696,757
Disbursements:
   
 
Benefit payments:
   
   
Gross benefit payments
515,762
 
   
Offset for collected overpayments
-1,580
 
   
Reimbursement from the general fund for unnegotiated checks
-68
 
     
Net benefit payments
 
514,114
 
Transfer to the Railroad Retirement "Social Security Equivalent Benefit Account"
 
3,917
 
Payment for costs of vocational rehabilitation services for disabled beneficiaries
 
47
 
Administrative expenses:
   
   
Costs incurred by:
   
     
Social Security Administration
4,553
 
     
Department of the Treasury
665
 
   
Offsetting receipts from sales of supplies, materials, etc.
-5
 
   
Miscellaneous reimbursements from the general fund3
-11
 
     
Net administrative expenses
 
5,201
Total disbursements
 
523,279
Net increase in assets
 
173,478
Total assets, September 30, 2005
 
1,808,922

1Less than $500,000.

2Includes (1) interest on transfers between the trust funds and the general fund account for the Supplemental Security Income program due to adjustments in the allocation of administrative expenses, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust funds.

3Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI and DI programs.

Note: Totals do not necessarily equal the sums of rounded components.

Estimates of the operations and status of the OASI, DI and the combined OASI and DI Trust Funds during fiscal years (12 months ending on September 30) 2001-15 are presented in tables VI.C4, VI.C5 and VI.C6, respectively.

Table VI.C4.-Operations of the OASI Trust Fund in Fiscal Years 2001-15

[Amounts in billions]

Fiscal year
Income 
 
Cost
 
Assets
Total1
Net
contri-
butions
Taxa-
tion of
benefits
Net
inter-
est 
Total
Benefit
pay-
ments 
Admin-
istra-
tive costs
RRB
inter-
change
Net
increase
during
year
Amount
at end
of year
Trust
fund
ratio 2
Historical data:
 
2001
$513.8
$440.8
$11.8
$61.2
 
$373.0
$367.7
$2.1
$3.3
 
$140.8
$1,033.8
239
 
2002
529.3
448.1
12.6
68.1
 
389.5
383.9
2.1
3.5
 
139.7
1,173.6
265
 
2003
542.3
456.0
12.3
74.0
 
402.8
396.7
2.5
3.6
 
139.5
1,313.1
291
 
2004
556.5
466.8
13.3
76.4
 
417.1
411.2
2.3
3.6
 
139.5
1,452.6
315
 
2005
600.0
503.0
15.3
81.7
 
436.9
430.4
2.9
3.6
 
163.1
1,615.6
332
Intermediate:
 
2006
629.8
528.1
15.2
86.9
 
461.5
455.1
3.0
3.5
 
168.3
1,783.9
350
 
2007
660.4
549.2
16.9
94.3
 
483.8
477.3
3.0
3.5
 
176.6
1,960.5
369
 
2008
706.0
583.2
19.6
103.3
 
506.7
500.1
3.0
3.6
 
199.4
2,159.9
387
 
2009
747.7
612.0
20.2
115.5
 
534.7
528.2
3.0
3.6
 
213.0
2,372.9
404
 
2010
796.8
646.4
21.8
128.7
 
567.2
560.6
3.0
3.7
 
229.6
2,602.5
418
                             
 
2011
848.1
680.0
25.2
142.9
 
602.4
596.0
3.0
3.4
 
245.7
2,848.2
432
 
2012
895.9
709.8
28.3
157.8
 
642.4
635.5
3.0
3.9
 
253.5
3,101.7
443
 
2013
944.6
740.6
31.4
172.6
 
687.4
680.3
3.1
4.0
 
257.2
3,358.9
451
 
2014
993.7
771.7
34.0
188.0
 
736.5
729.3
3.1
4.2
 
257.1
3,616.0
456
 
2015
1,044.1
804.1
36.6
203.4
 
789.0
781.5
3.2
4.3
 
255.2
3,871.2
458
Low Cost:
 
2006
630.1
528.4
15.1
86.9
 
461.4
454.9
3.0
3.5
 
168.7
1,784.3
350
 
2007
662.7
552.1
16.8
93.8
 
482.8
476.2
3.0
3.5
 
179.9
1,964.2
370
 
2008
704.9
583.8
19.5
101.7
 
503.8
497.3
3.0
3.6
 
201.1
2,165.3
390
 
2009
744.8
612.1
20.0
112.7
 
527.6
521.1
2.9
3.6
 
217.1
2,382.5
410
 
2010
791.6
645.3
21.3
125.0
 
554.0
547.5
2.9
3.6
 
237.7
2,620.1
430
                             
 
2011
841.0
678.2
24.3
138.5
 
582.2
575.9
2.9
3.3
 
258.9
2,879.0
450
 
2012
888.3
707.6
27.1
153.7
 
614.2
607.5
3.0
3.7
 
274.1
3,153.1
469
 
2013
937.5
738.4
29.7
169.4
 
650.4
643.7
3.0
3.7
 
287.1
3,440.2
485
 
2014
986.5
769.3
31.9
185.4
 
690.0
683.1
3.0
3.8
 
296.6
3,736.7
499
 
2015
1,035.2
799.7
33.9
201.5
 
731.9
724.9
3.1
4.0
 
303.3
4,040.0
511
High Cost:
 
2006
625.6
524.2
15.2
86.6
 
461.6
455.1
3.0
3.5
 
164.1
1,779.7
350
 
2007
636.4
528.5
16.9
91.0
 
486.3
479.8
3.0
3.5
 
150.1
1,929.8
366
 
2008
686.4
566.2
19.8
100.4
 
511.7
505.1
3.0
3.6
 
174.7
2,104.5
377
 
2009
724.9
592.2
20.5
112.2
 
541.8
535.2
2.9
3.7
 
183.1
2,287.6
388
 
2010
772.1
624.9
22.4
124.9
 
583.0
576.2
3.0
3.8
 
189.1
2,476.8
392
                             
 
2011
855.1
678.6
26.6
149.9
 
636.0
629.3
3.1
3.6
 
219.1
2,695.8
389
 
2012
923.3
719.4
30.6
173.3
 
695.4
687.9
3.2
4.2
 
227.9
2,923.7
388
 
2013
981.9
757.4
34.6
190.0
 
757.6
749.8
3.3
4.5
 
224.3
3,148.0
386
 
2014
1,035.2
795.0
37.9
202.4
 
820.9
812.7
3.4
4.8
 
214.3
3,362.4
383
 
2015
1,088.3
832.8
41.1
214.4
 
886.8
878.3
3.4
5.1
 
201.5
3,563.9
379

1"Total Income" column includes transfers made between the OASI Trust Fund and the General Fund of the Treasury that are not included in the separate components of income shown. Transfers for the cost of pre-1957 military service noncontributory wage credits were: (1) $414 million from the General Fund of the Treasury to the OASI Trust Fund in February 2002, and (2) $350 million from the trust fund to the general fund in December 2005. Such transfers are estimated to be less than $500,000 in each year after fiscal year 2006.

2The "Trust fund ratio" column represents assets at the beginning of a year (which are identical to assets at the end of the prior year shown in the "Amount at end of year" column) as a percentage of cost for the year.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C5.-Operations of the DI Trust Fund in Fiscal Years 2001-15

[Amounts in billions]

Fiscal year
Income 
 
Cost
 
Assets
Total1
Net
contri-
butions
Taxa-
tion of
benefits
Net
inter-
est 
Total
Benefit
pay-
ments 
Admin-
istra-
tive costs
RRB
inter-
change
Net
increase
during
year
Amount
at end
of year
Trust
fund
ratio 2
Historical data:
 
2001
$82.1
$74.6
$0.7
$7.6
 
$59.9
$58.2
$1.8
3/
 
$22.1
$135.9
190
 
2002
85.7
76.1
.9
8.7
 
66.4
64.2
2.0
$0.2
 
19.4
155.3
205
 
2003
87.9
77.4
.9
9.6
 
71.9
69.8
2.0
.2
 
16.0
171.3
216
 
2004
90.1
79.3
1.0
9.8
 
78.5
76.2
2.1
.2
 
11.6
182.9
218
 
2005
96.8
85.4
1.2
10.2
 
86.4
83.7
2.3
.3
 
10.4
193.3
212
Intermediate:
 
2006
101.2
89.7
1.2
10.3
 
94.0
91.4
2.3
.3
 
7.2
200.5
206
 
2007
105.1
93.2
1.4
10.5
 
100.4
97.6
2.5
.3
 
4.7
205.2
200
 
2008
111.4
99.0
1.7
10.7
 
105.9
103.1
2.4
.4
 
5.4
210.7
194
 
2009
116.7
103.9
1.7
11.0
 
112.0
108.9
2.6
.4
 
4.7
215.4
188
 
2010
123.0
109.8
1.9
11.3
 
119.2
116.0
2.8
.4
 
3.8
219.2
181
                             
 
2011
129.3
115.5
2.3
11.6
 
125.2
121.8
3.0
.5
 
4.1
223.3
175
 
2012
134.9
120.5
2.6
11.8
 
133.1
129.4
3.1
.5
 
1.9
225.1
168
 
2013
140.6
125.8
2.9
11.9
 
140.7
136.8
3.3
.5
 
3/
225.1
160
 
2014
146.1
131.0
3.2
11.9
 
148.4
144.4
3.5
.5
 
-2.2
222.9
152
 
2015
151.8
136.6
3.4
11.8
 
156.7
152.5
3.7
.5
 
-4.9
217.9
142
Low Cost:
 
2006
101.3
89.7
1.2
10.3
 
93.0
90.3
2.3
.3
 
8.3
201.6
208
 
2007
105.6
93.7
1.3
10.6
 
97.5
94.7
2.5
.3
 
8.1
209.7
207
 
2008
111.6
99.1
1.6
10.9
 
101.1
98.3
2.4
.4
 
10.5
220.2
207
 
2009
117.0
103.9
1.6
11.4
 
104.6
101.6
2.6
.4
 
12.4
232.6
210
 
2010
123.5
109.6
1.8
12.1
 
108.7
105.5
2.8
.4
 
14.8
247.3
214
                             
 
2011
130.1
115.2
2.0
13.0
 
111.6
108.3
2.9
.4
 
18.5
265.8
222
 
2012
136.5
120.2
2.3
14.1
 
115.9
112.4
3.1
.5
 
20.6
286.4
229
 
2013
143.1
125.4
2.5
15.2
 
119.9
116.2
3.2
.5
 
23.2
309.6
239
 
2014
149.8
130.6
2.6
16.6
 
123.9
120.1
3.4
.5
 
25.9
335.5
250
 
2015
156.5
135.8
2.8
18.0
 
128.4
124.4
3.6
.4
 
28.2
363.7
261
High Cost:
 
2006
100.6
89.0
1.2
10.3
 
96.1
93.5
2.3
.3
 
4.5
197.8
201
 
2007
101.2
89.7
1.5
10.0
 
105.7
102.9
2.5
.4
 
-4.4
193.3
187
 
2008
107.7
96.2
1.8
9.8
 
113.9
111.0
2.4
.4
 
-6.2
187.1
170
 
2009
111.9
100.6
1.9
9.4
 
122.6
119.5
2.6
.4
 
-10.7
176.5
153
 
2010
117.0
106.1
2.2
8.7
 
134.1
130.8
2.8
.5
 
-17.1
159.4
132
                             
 
2011
125.7
115.2
2.6
7.9
 
146.3
142.7
3.1
.5
 
-20.5
138.8
109
 
2012
132.0
122.2
3.2
6.7
 
160.9
157.0
3.3
.5
 
-28.8
110.0
86
 
2013
137.3
128.6
3.7
5.0
 
174.4
170.3
3.5
.6
 
-37.1
72.9
63
 
2014
142.4
135.0
4.0
3.4
 
187.3
183.0
3.7
.6
 
-44.9
28.0
39
 
2015
4/
141.4
4.4
4/
 
201.0
196.5
4.0
.6
 
4/
4/
14

1"Total Income" column includes transfers made between the DI Trust Fund and the General Fund of the Treasury that are not included in the separate components of income shown. In particular, a transfer is expected to be made in December 2006 in the amount of $7.3 million from the General Fund of the Treasury to the DI Trust Fund. Such transfers are estimated to be less than $500,000 in each year after fiscal year 2007.

2The "Trust fund ratio" column represents assets at the beginning of a year (which are identical to assets at the end of the prior year shown in the "Amount at end of year" column) as a percentage of cost for the year.

3Between -$50 million and $50 million.

4Under the high cost assumptions, the DI Trust Fund is projected to be exhausted in 2015. Therefore, certain trust fund operation values for that year are not meaningful under present law and are not shown in this table.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C6.-Operations of the Combined OASI and DI Trust Funds
in Fiscal Years 2001-15 

[Amounts in billions]

Fiscal year
Income 
 
Cost
 
Assets
Total1
Net
contri-
butions
Taxa-
tion of
benefits
Net
inter-
est 
Total
Benefit
pay-
ments 
Admin-
istra-
tive costs
RRB
inter-
change
Net
increase
during
year
Amount
at end
of year
Trust
fund
ratio 2
Historical data:
 
2001
$595.9
$515.4
$12.5
$68.8
 
$432.9
$425.8
$3.8
$3.3
 
$163.0
$1,169.7
233
 
2002
615.0
524.2
13.5
76.8
 
455.9
448.1
4.1
3.6
 
159.1
1,328.8
257
 
2003
630.3
533.4
13.3
83.5
 
474.7
466.5
4.5
3.7
 
155.5
1,484.3
280
 
2004
646.6
546.1
14.3
86.2
 
495.5
487.3
4.3
3.8
 
151.1
1,635.4
300
 
2005
696.8
588.4
16.5
91.8
 
523.3
514.2
5.2
3.9
 
173.5
1,808.9
313
Intermediate:
 
2006
731.0
617.8
16.4
97.3
 
555.5
546.4
5.3
3.8
 
175.5
1,984.4
326
 
2007
765.5
642.5
18.2
104.8
 
584.3
574.9
5.5
3.9
 
181.3
2,165.7
340
 
2008
817.4
682.2
21.2
114.0
 
612.6
603.3
5.4
3.9
 
204.8
2,370.5
354
 
2009
864.4
715.9
22.0
126.6
 
646.7
637.1
5.6
4.0
 
217.8
2,588.3
367
 
2010
919.8
756.1
23.7
140.0
 
686.5
676.6
5.8
4.1
 
233.4
2,821.7
377
                             
 
2011
977.4
795.5
27.4
154.5
 
727.6
717.8
6.0
3.9
 
249.7
3,071.4
388
 
2012
1,030.8
830.3
30.9
169.6
 
775.4
764.9
6.2
4.4
 
255.4
3,326.8
396
 
2013
1,085.2
866.4
34.3
184.5
 
828.0
817.1
6.4
4.5
 
257.2
3,584.0
402
 
2014
1,139.8
902.7
37.2
199.9
 
884.9
873.6
6.6
4.7
 
254.9
3,838.9
405
 
2015
1,195.9
940.7
40.0
215.3
 
945.7
934.0
6.9
4.8
 
250.2
4,089.1
406
Low Cost:
 
2006
731.3
618.2
16.4
97.2
 
554.3
545.2
5.3
3.8
 
177.0
1,985.9
326
 
2007
768.3
645.8
18.2
104.3
 
580.3
570.9
5.5
3.9
 
188.0
2,174.0
342
 
2008
816.5
683.0
21.0
112.5
 
605.0
595.6
5.4
3.9
 
211.6
2,385.5
359
 
2009
861.8
716.0
21.6
124.1
 
632.3
622.7
5.5
4.0
 
229.5
2,615.0
377
 
2010
915.1
754.9
23.0
137.1
 
662.7
653.0
5.7
4.0
 
252.4
2,867.4
395
                             
 
2011
971.2
793.4
26.3
151.5
 
693.8
684.2
5.9
3.8
 
277.4
3,144.8
413
 
2012
1,024.8
827.7
29.3
167.7
 
730.1
719.9
6.0
4.1
 
294.7
3,439.5
431
 
2013
1,080.6
863.8
32.2
184.7
 
770.4
759.9
6.2
4.2
 
310.3
3,749.8
446
 
2014
1,136.4
899.9
34.5
202.0
 
813.9
803.2
6.4
4.3
 
322.5
4,072.3
461
 
2015
1,191.8
935.5
36.7
219.5
 
860.3
849.3
6.6
4.4
 
331.4
4,403.7
473
High Cost:
 
2006
726.2
613.2
16.4
96.9
 
557.7
548.6
5.3
3.8
 
168.5
1,977.4
324
 
2007
737.7
618.3
18.4
101.0
 
592.0
582.6
5.5
3.9
 
145.7
2,123.1
334
 
2008
794.1
662.4
21.5
110.2
 
625.5
616.1
5.4
4.0
 
168.6
2,291.7
339
 
2009
836.8
692.8
22.4
121.5
 
664.3
654.7
5.5
4.1
 
172.4
2,464.1
345
 
2010
889.2
731.0
24.6
133.6
 
717.1
707.0
5.8
4.2
 
172.0
2,636.1
344
                             
 
2011
980.8
793.8
29.2
157.7
 
782.3
771.9
6.2
4.1
 
198.5
2,834.7
337
 
2012
1,055.3
841.5
33.8
180.0
 
856.2
844.9
6.6
4.7
 
199.1
3,033.7
331
 
2013
1,119.2
886.0
38.2
195.0
 
932.0
920.1
6.8
5.1
 
187.2
3,220.9
326
 
2014
1,177.6
930.0
41.9
205.7
 
1,008.2
995.7
7.1
5.4
 
169.4
3,390.3
319
 
2015
1,235.1
974.2
45.5
215.4
 
1,087.8
1,074.7
7.4
5.7
 
147.3
3,537.7
312

1"Total Income" column includes transfers made between the OASI and DI Trust Funds and the General Fund of the Treasury that are not included in the separate components of income shown. These transfers consist of payments for (1) the cost of noncontributory wage credits for military service before 1957, and (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968.

2The "Trust fund ratio" column represents assets at the beginning of a year (which are identical to assets at the end of the prior year shown in the "Amount at end of year" column) as a percentage of cost for the year.

Note: Totals do not necessarily equal the sums of rounded components.



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