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 2007, 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 2007 [In millions] Reimbursement from the general fund for costs of payments to unin-
sured persons who attained age 72 before 1968 Reimbursement from the general fund for excess amounts of voluntary
income tax withholding Transfer to the DI Trust Fund to correct a trust fund allocation error made on payments to certain dually entitled disabled beneficiaries Payment for costs of vocational rehabilitation services for disabled beneficiaries Transfer to the Railroad Retirement “Social Security Equivalent Benefit Account”
Includes (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, and (3) interest on certain reimbursements to the trust fund.
Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI program.
Table VI.C2.—Operations of the DI Trust Fund, Fiscal Year 2007 [In millions] Reimbursement from the general fund for excess amounts of voluntary
income tax withholding Transfer from the OASI Trust Fund to correct a trust fund allocation error made on payments to certain dually entitled disabled beneficiaries
Includes (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, and (3) interest on certain reimbursements to the trust fund.
Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the DI program.
Table VI.C3.—Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2007 [In millions] Reimbursement from the general fund for costs of payments to unin-
sured persons who attained age 72 before 1968 Reimbursement from the general fund for excess amounts of voluntary
income tax withholding
Includes (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 fund.
Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI and DI programs.
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) 2003-17 are presented in tables VI.C4, VI.C5 and VI.C6, respectively.
Table VI.C4.—Operations of the OASI Trust Fund in Fiscal Years 2003-17[Amounts in billions] Fiscal year Net
interest
“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. 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. In December 2005, $350 million was transferred from the OASI Trust Fund to the General Fund of the Treasury for the cost of pre-1957 military service wage credits. After 2007 such transfers are estimated to be less than $500,000 in each year.
The “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.
Table VI.C5.—Operations of the DI Trust Fund in Fiscal Years 2003-17[Amounts in billions] Fiscal year Net
interest
“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. These transfers consist of payments for the cost of noncontributory wage credits for military service before 1957. In particular, a transfer was made in December 2007 in the amount of $7.7 million from the General Fund of the Treasury to the DI Trust Fund. After 2007 such transfers are estimated to be less than $500,000 in each year.
The “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.
Under the high cost assumptions, the DI Trust Fund is projected to be exhausted in 2017. Therefore, certain trust fund operation values for that year are not meaningful under present law and are not shown in this table.
Table VI.C6.—Operations of the Combined OASI and DI Trust Funds
in Fiscal Years 2003-17 [Amounts in billions] Fiscal
year Net
interest
“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.
The “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.
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