2021 OASDI Trustees Report

C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2030

Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2020 operations of the OASI, DI, and the combined OASI and DI Trust Funds, respectively. The fiscal year for the U.S. Government is the 12-month period ending September 30. Fiscal year 2020 is the most recent fiscal year for which complete information is available. The descriptions of the values in these tables are similar to the corresponding descriptions and values in the calendar year operations tables in section III.A. Please see that section for a description of the various items of income and cost.

Table VI.C1.—Operations of the OASI Trust Fund, Fiscal Year 2020

[In millions]

Total asset reserves, September 30, 2019					$2,804,312
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$841,664
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		—
			Net payroll tax contributionsa		841,664
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		7
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		7
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		236
		All other, not subject to withholding		37,674
			Total income from taxation of benefits		37,910
	Investment income and interest adjustments:
		Interest on investments		75,988
		Interest adjustments c		2
			Total investment income and interest adjustments		75,990
	Gifts				b
Total income					955,571
Cost:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		940,224
		Reimbursement from the General Fund for unnegotiated checks		-38
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		14
			Net benefit paymentsd		940,200
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,844
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	3,151
			Department of the Treasury	512
		Offsetting miscellaneous receipts		-2
		Miscellaneous reimbursements from the General Fund e		-3
			Net administrative expenses		3,658
Total cost					948,702
Net increase in asset reserves					6,869
	Total invested assets			2,811,213
	Undisbursed balancesf			-32
Total asset reserves, September 30, 2020					2,811,181

---

a

Includes adjustments for prior years

b

Between -$0.5 and $0.5 million.

c

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

d

Includes net reductions for the recovery of overpayments.

e

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

f

A negative balance represents a situation where the actual program cash payments exceeded the amount of invested securities of the OASI Trust Fund that were redeemed to make such payments. In this situation, future redemption of additional invested securities will be required to pay for this shortfall.

Note: Components may not sum to totals because of rounding.

Table VI.C2.—Operations of the DI Trust Fund, Fiscal Year 2020 

[In millions]

Total asset reserves, September 30, 2019					$96,409
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$142,898
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		—
			Net payroll tax contributionsa		142,898
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		1
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		1
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		4
		All other, not subject to withholding		1,667
			Total income from taxation of benefits		1,671
	Investment income and interest adjustments:
		Interest on investments		2,813
		Interest adjustmentsc		5
			Total investment income and interest adjustments		2,817
	Gifts				—
Total income					147,387
Cost:
	Benefit payments:
		Monthly benefitsd		144,001
		Reimbursement from the General Fund for unnegotiated checks		-21
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		104
			Net benefit paymentsd		144,084
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				144
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,400
			Department of the Treasury	93
		Demonstration projects		14
		Miscellaneous reimbursements from the General Fund e		-2
			Net administrative expenses		2,505
Total cost					146,733
Net increase in asset reserves					655
	Total invested assets			97,209
	Undisbursed balancesf			-146
Total asset reserves, September 30, 2020					97,063

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a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

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

d

Includes net reductions for the recovery of overpayments.

e

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

f

A negative balance represents a situation where the actual program cash payments exceeded the amount of invested securities of the DI Trust Fund that were redeemed to make such payments. In this situation, future redemption of additional invested securities will be required to pay for this shortfall.

Note: Components may not sum to totals because of rounding.

Table VI.C3.—Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2020 

[In millions]

Total asset reserves, September 30, 2019					$2,900,721
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$984,562
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		—
			Net payroll tax contributionsa		984,562
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		8
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		8
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		240
		All other, not subject to withholding		39,341
			Total income from taxation of benefits		39,581
	Investment income and interest adjustments:
		Interest on investments		78,800
		Interest adjustmentsc		7
			Total investment income and interest adjustments		78,807
	Gifts				b
Total income					1,102,958
Cost:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		1,084,224
		Reimbursement from the General Fund for unnegotiated checks		-59
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		118
			Net benefit paymentsd		1,084,284
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,988
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	5,551
			Department of the Treasury	605
		Offsetting miscellaneous receipts		-2
		Demonstration projects		14
		Miscellaneous reimbursements from the General Funde		-4
			Net administrative expenses		6,163
Total cost					1,095,435
Net increase in asset reserves					7,524
	Total invested assets			2,908,423
	Undisbursed balancesf			-178
Total asset reserves, September 30, 2020					2,908,245

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a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

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

d

Includes net reductions for the recovery of overpayments.

e

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

f

A negative net balance represents a situation where the actual combined program cash payments exceeded the amount of invested securities of the OASI and DI Trust Funds that were redeemed to make such payments. In this situation, future net redemption of additional invested securities will be required to pay for this shortfall.

Note: Components may not sum to totals because of rounding.

Tables VI.C4, VI.C5, and VI.C6 show estimates of the operations and status of the OASI, DI, and the hypothetical combined OASI and DI Trust Funds, respectively, during fiscal years 2016 through 2030.

Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2016-2030

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay- roll tax contri- butions	GF reim- burse- mentsa	Taxa- tion of benefitsb	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio c
Historical data:
	2016	$799.9	$679.6	$0.1	$31.1	$89.1		$769.8	$762.1	$3.4	$4.3		$30.1	$2,796.6	359
	2017	822.4	702.1	d	35.4	84.9		799.0	791.1	3.6	4.3		23.5	2,820.1	350
	2018	822.4	706.1	d	34.7	81.6		841.5	833.0	3.7	4.8		-19.0	2,801.1	335
	2019	900.1	785.6	d	34.9	79.6		896.8	888.1	3.9	4.9		3.2	2,804.3	312
	2020	955.6	841.7	d	37.9	76.0		948.7	940.2	3.7	4.8		6.9	2,811.2	296
Intermediate:
	2021	932.0	827.7	d	33.7	70.6		994.4	985.2	4.0	5.1		-62.4	2,748.8	283
	2022	1,010.8	903.9	d	42.6	64.3		1,055.2	1,045.6	4.0	5.6		-44.4	2,704.4	260
	2023	1,045.7	940.2	d	46.2	59.3		1,122.5	1,112.9	4.1	5.5		-76.9	2,627.5	241
	2024	1,091.4	986.1	d	50.1	55.1		1,193.9	1,184.1	4.2	5.6		-102.5	2,525.0	220
	2025	1,135.0	1,028.1	d	54.5	52.3		1,268.5	1,258.5	4.3	5.6		-133.6	2,391.4	199
	2026	1,190.4	1,074.0	d	66.0	50.4		1,347.1	1,336.9	4.5	5.8		-156.7	2,234.8	178
	2027	1,240.2	1,114.7	d	74.0	51.6		1,429.0	1,418.6	4.6	5.8		-188.8	2,045.9	156
	2028	1,299.3	1,167.9	d	80.1	51.3		1,517.9	1,507.3	4.7	5.8		-218.6	1,827.4	135
	2029	1,346.6	1,212.0	d	86.4	48.2		1,610.0	1,599.2	4.8	5.9		-263.4	1,564.0	114
	2030	1,396.9	1,260.7	d	93.2	43.0		1,704.8	1,693.9	5.0	6.0		-308.0	1,256.0	92
Low-cost:
	2021	938.3	834.0	d	33.7	70.6		994.1	985.0	4.0	5.1		-55.8	2,755.4	283
	2022	1,058.9	951.4	d	42.7	64.8		1,057.4	1,047.9	4.0	5.5		1.5	2,756.9	261
	2023	1,098.3	990.8	d	46.5	61.0		1,129.9	1,120.4	4.1	5.4		-31.6	2,725.3	244
	2024	1,167.9	1,057.5	d	50.7	59.7		1,207.6	1,197.8	4.3	5.5		-39.8	2,685.6	226
	2025	1,236.1	1,121.2	d	55.4	59.5		1,289.3	1,279.2	4.5	5.6		-53.3	2,632.3	208
	2026	1,318.1	1,189.0	d	67.4	61.8		1,375.8	1,365.3	4.7	5.8		-57.6	2,574.7	191
	2027	1,395.5	1,252.7	d	75.9	66.9		1,466.7	1,456.0	4.9	5.8		-71.2	2,503.5	176
	2028	1,486.9	1,332.9	d	82.6	71.4		1,565.9	1,554.9	5.1	5.9		-78.9	2,424.5	160
	2029	1,568.4	1,404.8	d	89.6	74.0		1,669.9	1,658.7	5.3	5.9		-101.5	2,323.1	145
	2030	1,656.7	1,483.8	d	97.2	75.7		1,778.4	1,766.9	5.5	6.0		-121.8	2,201.3	131
High-cost:
	2021	928.4	824.1	d	33.7	70.6		994.6	985.5	4.0	5.1		-66.2	2,744.9	283
	2022	949.3	843.5	d	42.5	63.4		1,050.9	1,041.3	4.0	5.6		-101.6	2,643.4	261
	2023	966.0	863.6	d	45.7	56.7		1,110.7	1,101.0	4.1	5.5		-144.7	2,498.7	238
	2024	996.5	895.9	d	49.3	51.2		1,175.3	1,165.5	4.1	5.6		-178.8	2,319.9	213
	2025	1,026.0	925.8	d	53.4	46.8		1,243.2	1,233.3	4.2	5.7		-217.2	2,102.7	187
	2026	1,066.3	960.0	d	64.4	41.9		1,314.5	1,304.5	4.3	5.7		-248.2	1,854.6	160
	2027	1,099.7	989.1	d	71.8	38.8		1,388.3	1,378.2	4.3	5.7		-288.6	1,565.9	134
	2028	1,137.4	1,026.9	d	77.4	33.0		1,468.0	1,457.9	4.4	5.7		-330.6	1,235.3	107
	2029	1,160.1	1,051.9	d	83.2	25.0		1,549.8	1,539.6	4.5	5.8		-389.7	845.7	80
	2030	1,185.1	1,078.4	d	89.3	17.4		1,633.1	1,622.8	4.5	5.8		-448.0	397.7	52

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a

Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (2) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (3) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

b

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

c

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

d

Between -$50 million and $50 million.

Note: Components may not sum to totals because of rounding.

Table VI.C5.—Operations of the DI Trust Fund, Fiscal Years 2016-2030^a

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay- roll tax contri- butions	GF reim- burse- mentsb	Taxa- tion of benefitsc	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio d
Historical data:
	2016	$150.3	$147.6	e	$1.2	$1.5		$146.2	$143.1	$2.8	$0.4		$4.1	$45.7	28
	2017	169.5	165.9	e	2.0	1.6		145.8	142.9	2.7	.2		23.7	69.4	31
	2018	170.3	167.0	e	1.0	2.2		146.6	143.6	2.8	.2		23.7	93.1	47
	2019	151.0	146.8	e	1.2	2.9		147.7	144.9	2.8	.1		3.3	96.4	63
	2020	147.4	142.9	e	1.7	2.8		146.7	144.1	2.5	.1		.7	97.1	66
Intermediate:
	2021	143.7	140.6	e	.4	2.7		145.2	142.3	2.7	.2		-1.4	95.7	67
	2022	157.5	153.5	e	1.5	2.5		151.3	148.3	2.9	.1		6.2	101.9	63
	2023	163.6	159.7	e	1.6	2.3		158.3	155.4	2.8	.1		5.3	107.1	64
	2024	171.5	167.5	e	1.7	2.3		164.3	161.3	2.9	.1		7.1	114.3	65
	2025	178.9	174.6	e	1.9	2.5		170.5	167.4	3.1	.1		8.4	122.7	67
	2026	187.4	182.4	e	2.2	2.8		177.7	174.4	3.3	.1		9.7	132.4	69
	2027	195.1	189.3	e	2.5	3.3		185.5	182.0	3.4	.1		9.6	142.0	71
	2028	204.9	198.3	e	2.6	4.0		192.1	188.5	3.6	.1		12.8	154.8	74
	2029	213.3	205.8	e	2.8	4.8		198.8	194.9	3.8	.1		14.5	169.3	78
	2030	222.7	214.1	e	2.9	5.7		205.9	201.8	3.9	.1		16.8	186.0	82
Low-cost:
	2021	144.8	141.7	e	.4	2.7		144.6	141.7	2.7	.2		.2	97.3	67
	2022	165.7	161.6	e	1.5	2.6		149.3	146.3	2.9	.1		16.4	113.7	65
	2023	172.6	168.2	e	1.6	2.8		154.5	151.7	2.8	.1		18.1	131.8	74
	2024	184.5	179.6	e	1.7	3.2		159.0	156.0	2.9	e		25.5	157.3	83
	2025	196.5	190.4	e	1.8	4.3		163.5	160.3	3.1	e		33.0	190.3	96
	2026	210.0	201.9	e	2.1	6.0		168.6	165.3	3.3	e		41.4	231.7	113
	2027	223.5	212.7	e	2.3	8.5		174.4	170.8	3.5	.1		49.2	280.9	133
	2028	240.6	226.3	e	2.4	11.9		179.0	175.2	3.7	.1		61.6	342.5	157
	2029	257.0	238.6	e	2.5	15.9		183.9	179.9	3.9	.1		73.1	415.6	186
	2030	275.4	252.0	e	2.7	20.7		189.5	185.3	4.1	.1		85.9	501.5	219
High-cost:
	2021	143.1	140.0	e	.4	2.7		145.6	142.7	2.7	.2		-2.4	94.6	67
	2022	147.1	143.2	e	1.5	2.4		152.9	149.9	2.9	.1		-5.8	88.9	62
	2023	150.2	146.6	e	1.7	1.8		161.6	158.7	2.8	.1		-11.5	77.4	55
	2024	155.5	152.1	e	1.8	1.5		169.6	166.6	2.9	.1		-14.1	63.3	46
	2025	160.4	157.2	e	1.9	1.3		177.4	174.3	3.0	.1		-17.0	46.3	36
	2026	166.2	163.0	e	2.3	.9		186.3	183.0	3.2	.1		-20.1	26.3	25
	2027	170.9	168.0	e	2.6	.3		196.0	192.6	3.3	.1		-25.1	1.2	13
	2028	f	174.4	e	2.8	f		204.2	200.6	3.5	.1		f	f	1
	2029	f	178.6	e	3.0	f		212.2	208.5	3.6	.1		f	f	f
	2030	f	183.1	e	3.1	f		220.4	216.5	3.8	.1		f	f	f

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a

The DI Trust Fund becomes depleted in fiscal year 2028 under the high-cost assumptions. For any period during which reserves would be depleted, scheduled benefits could not be paid in full on a timely basis, income from taxing benefits would be less than would apply to scheduled benefits, and interest on trust fund reserves would be negligible.

b

Includes reimbursements from the General Fund of the Treasury to the DI Trust Fund for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (2) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110‑246; and (3) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112‑78, and 112-96.

c

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

d

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

e

Between -$50 million and $50 million.

f

While the fund is depleted, values under current law would reflect permissible expenditures only, which are inconsistent with the cost of scheduled benefits shown in this table.

Note: Components may not sum to totals because of rounding.

Table VI.C6.—Operations of the Combined OASI and DI Trust Funds,
Fiscal Years 2016-2030 

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay-roll tax contri- butions	GF reim- burse- mentsa	Taxa- tion of bene‑ fitsb	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio c
Historical data:
	2016	$950.2	$827.1	$0.2	$32.3	$90.6		$916.0	$905.2	$6.2	$4.7		$34.1	$2,842.4	307
	2017	991.9	868.0	d	37.4	86.5		944.7	934.0	6.2	4.5		47.2	2,889.5	301
	2018	992.7	873.2	d	35.7	83.8		988.0	976.7	6.4	4.9		4.7	2,894.2	292
	2019	1,051.1	932.4	d	36.1	82.5		1,044.5	1,033.0	6.6	4.9		6.5	2,900.7	277
	2020	1,103.0	984.6	d	39.6	78.8		1,095.4	1,084.3	6.2	5.0		7.5	2,908.2	265
Intermediate:
	2021	1,075.7	968.3	d	34.2	73.3		1,139.5	1,127.5	6.8	5.2		-63.8	2,844.5	255
	2022	1,168.3	1,057.3	d	44.1	66.8		1,206.5	1,193.9	6.9	5.7		-38.2	2,806.3	236
	2023	1,209.2	1,099.8	d	47.8	61.6		1,280.8	1,268.4	6.9	5.5		-71.6	2,734.7	219
	2024	1,262.8	1,153.6	d	51.8	57.4		1,358.2	1,345.4	7.1	5.6		-95.4	2,639.3	201
	2025	1,313.9	1,202.7	d	56.4	54.8		1,439.0	1,425.9	7.4	5.7		-125.2	2,514.1	183
	2026	1,377.8	1,256.4	d	68.2	53.2		1,524.7	1,511.2	7.7	5.8		-146.9	2,367.2	165
	2027	1,435.2	1,303.9	d	76.4	54.9		1,614.5	1,600.7	8.0	5.8		-179.3	2,187.9	147
	2028	1,504.2	1,366.2	d	82.7	55.3		1,710.0	1,695.8	8.3	5.9		-205.8	1,982.1	128
	2029	1,559.9	1,417.8	d	89.2	52.9		1,808.8	1,794.2	8.6	6.0		-248.9	1,733.3	110
	2030	1,619.6	1,474.8	d	96.1	48.6		1,910.8	1,895.8	8.9	6.1		-291.2	1,442.1	91
Low-cost:
	2021	1,083.1	975.7	d	34.2	73.3		1,138.7	1,126.7	6.8	5.2		-55.5	2,852.7	255
	2022	1,224.6	1,113.0	d	44.2	67.4		1,206.7	1,194.1	6.9	5.7		17.9	2,870.6	236
	2023	1,270.9	1,159.0	d	48.1	63.8		1,284.4	1,272.1	6.9	5.5		-13.5	2,857.1	223
	2024	1,352.4	1,237.1	d	52.4	62.9		1,366.6	1,353.8	7.2	5.6		-14.2	2,842.9	209
	2025	1,432.6	1,311.6	d	57.2	63.8		1,452.8	1,439.5	7.6	5.7		-20.2	2,822.6	196
	2026	1,528.2	1,390.9	d	69.5	67.8		1,544.4	1,530.6	8.0	5.8		-16.2	2,806.4	183
	2027	1,619.0	1,465.4	d	78.2	75.4		1,641.0	1,626.8	8.4	5.8		-22.0	2,784.4	171
	2028	1,727.6	1,559.3	d	85.0	83.3		1,744.9	1,730.2	8.8	5.9		-17.3	2,767.1	160
	2029	1,825.4	1,643.3	d	92.2	89.9		1,853.8	1,838.6	9.2	6.0		-28.4	2,738.7	149
	2030	1,932.0	1,735.7	d	99.9	96.4		1,967.9	1,952.2	9.6	6.1		-35.9	2,702.8	139
High-cost:
	2021	1,071.5	964.1	d	34.2	73.3		1,140.2	1,128.2	6.8	5.2		-68.7	2,839.6	255
	2022	1,096.4	986.7	d	44.0	65.8		1,203.7	1,191.1	6.9	5.7		-107.3	2,732.3	236
	2023	1,116.2	1,010.2	d	47.4	58.6		1,272.3	1,259.8	6.9	5.6		-156.1	2,576.1	215
	2024	1,152.0	1,048.1	d	51.1	52.8		1,344.9	1,332.1	7.0	5.7		-192.9	2,383.2	192
	2025	1,186.4	1,083.0	d	55.3	48.0		1,420.5	1,407.6	7.2	5.7		-234.2	2,149.1	168
	2026	1,232.5	1,123.0	d	66.7	42.8		1,500.7	1,487.5	7.4	5.8		-268.2	1,880.8	143
	2027	1,270.5	1,157.0	d	74.4	39.1		1,584.3	1,570.8	7.7	5.8		-313.7	1,567.1	119
	2028	1,314.1	1,201.3	d	80.2	32.6		1,672.2	1,658.5	7.9	5.8		-358.1	1,209.0	94
	2029	1,340.3	1,230.5	d	86.1	23.6		1,762.0	1,748.0	8.1	5.9		-421.7	787.3	69
	2030	1,368.8	1,261.6	d	92.4	14.8		1,853.5	1,839.3	8.3	5.9		-484.7	302.6	42

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a

Includes reimbursements from the General Fund of the Treasury to the OASI and DI Trust Funds for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (2) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (3) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

b

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

c

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

d

Between -$50 million and $50 million.