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Table II.F11. - Operations of the OASI and DI Trust Funds, Combined, During Selected Fiscal Years 1960-95 and Estimated Future Operations During Fiscal Years 1996-2005, on the Basis of the Intermediate Set of Assumptions
[In millions]
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Income
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Payments
Income from the
from taxa- general fund
Fiscal Net contri- tion of of the Net
year 1/ Total butions2/ benefits Treasury3/ interest4/
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Historical data:
1960........ $11,394 $10,830 -- -- $564
1965........ 17,681 17,032 -- -- 648
1970........ 36,127 34,096 -- $458 1,572
1975........ 66,677 63,374 -- 499 2,804
1980........ 117,427 114,413 -- 675 2,339
1985........ 197,865 192,181 $3,368 105 2,211
1986........ 215,461 205,146 3,558 3,310 3,447
1987........ 226,893 218,878 3,307 69 4,638
1988........ 258,090 248,145 3,390 55 6,500
1989........ 284,936 270,811 3,772 43 10,310
1990........ 306,822 288,797 3,081 34 14,909
1991........ 322,611 299,794 5,921 -2,864 19,759
1992........ 338,270 308,377 6,237 19 23,637
1993........ 351,354 318,391 6,161 14 26,788
1994........ 376,307 341,438 5,656 10 29,203
1995........ 396,276 357,516 5,449 7 33,304
Estimates:
1996........ 416,220 373,897 6,159 -327 36,491
1997........ 437,852 390,169 7,195 3 40,485
1998........ 460,545 408,185 7,694 2 44,664
1999........ 486,582 429,177 8,242 2 49,162
2000........ 513,841 451,064 8,837 1 53,939
2001........ 540,892 472,145 9,500 170 59,078
2002........ 571,743 496,973 10,228 (5) 64,541
2003........ 604,793 523,434 11,019 (5) 70,340
2004........ 639,417 551,086 11,887 (5) 76,444
2005........ 683,612 587,871 12,836 (5) 82,905
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1/ Under the Congressional Budget Act of 1974 (Public Law 93-344), fiscal years
1977 and later consist of the 12 months ending on September 30 of each year.
Fiscal years prior to 1977 consisted of the 12 months ending on June 30 of each
year.
2/ Beginning in 1983, includes transfers from general fund of Treasury repre-
senting contributions that would have been paid on deemed wage credits for
military service in 1957 and later, if such credits were considered to be
covered wages.
3/ Includes payments (1) in 1947-52 and in 1967 and later, for costs of non-
contributory wage credits for military service performed before 1957; (2) in
1972-83, for costs of deemed wage credits for military service performed after
1956; and (3) in 1969 and later, for costs of benefits to certain uninsured
persons who attained age 72 before 1968.
4/ Net interest includes net profits or losses on marketable investments.
Beginning in 1967, administrative expenses are charged currently to the trust
funds on an estimated basis, with a final adjustment, including interest, made
in the following fiscal year. The amounts of these interest adjustments are
included in net interest. For years prior to 1967, a description of the method
of accounting for administrative expenses is contained in the 1970 Annual
Report. Beginning in October 1973, the figures shown include relatively small
amounts of gifts to the funds. Net interest for 1983-86 reflects payments from
a borrowing trust fund to a lending trust fund for interest on amounts owed
under the interfund borrowing provisions. During 1983-91, interest paid from
the trust funds to the general fund on advance tax transfers is reflected. The
amounts shown for 1985 and 1986 include interest adjustments of $91.3 million
and $11.5 million, respectively, on unnegotiated checks issued before April
1985.
5/ Less than $500,000.
Table II.F11. - Operations of the OASI and DI Trust Funds, Combined, During Selected Fiscal Years 1960-95 and Estimated Future Operations During Fiscal Years 1996-2005, on the Basis of the Intermediate Set of Assumptions (Cont.)
[In millions]
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Expenditures Assets
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Transfers
to Net
Adminis- Railroad increase Amount
Fiscal Benefit trative Retirement during at end of
year Total payments1/ expenses program year period
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Historical data:
1960..... $11,606 $10,798 $234 $574 -$212 $22,996
1965..... 17,456 16,618 379 459 224 22,187
1970..... 30,275 29,063 623 589 5,851 37,720
1975..... 64,658 62,547 1,101 1,010 2,018 48,138
1980..... 118,548 115,624 1,494 1,430 -1,121 32,246
1985..... 188,504 183,959 2,192 2,353 2/ 7,538 39,750
1986..... 198,730 193,869 2,209 2,653 2/ 6,117 45,867
1987..... 207,323 202,430 2,279 2,614 19,570 65,437
1988..... 219,290 213,907 2,532 2,851 38,800 104,237
1989..... 232,491 227,150 2,407 2,934 52,445 156,682
1990..... 248,605 243,275 2,280 3,049 58,217 214,900
1991..... 269,096 263,104 2,535 3,457 53,515 268,415
1992..... 287,524 281,650 2,668 3,206 50,746 319,161
1993..... 304,566 298,176 2,955 3,435 46,788 365,949
1994..... 319,551 313,129 2,896 3,526 56,757 422,706
1995..... 335,830 328,841 2,870 4,120 60,446 483,152
Estimates:
1996..... 350,453 343,778 3,119 3,556 65,766 548,918
1997..... 368,446 361,123 3,484 3,838 69,407 618,325
1998..... 386,552 379,488 3,180 3,884 73,993 692,318
1999..... 406,623 399,288 3,373 3,962 79,959 772,277
2000..... 428,449 420,885 3,506 4,057 85,393 857,670
2001..... 452,110 444,329 3,636 4,145 88,782 946,452
2002..... 477,922 469,910 3,778 4,234 93,821 1,040,273
2003..... 505,812 497,531 3,934 4,347 98,981 1,139,254
2004..... 536,128 527,554 4,102 4,472 103,289 1,242,543
2005..... 568,700 559,820 4,280 4,600 114,912 1,357,455
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1/ Beginning in 1967, includes payments for vocational rehabilitation services
furnished to disabled persons receiving benefits because of their disabilities.
Beginning in 1983, amounts are reduced by amount of reimbursement for unnegoti-
ated benefit checks.
2/ Reflects offset for repayment from the OASI Trust Fund of amounts borrowed
from the HI Trust Fund in 1982. The amount repaid in 1985 was $1,824 million;
in 1986, the amount was $10,613 million.
Note: Totals do not necessarily equal the sums of rounded components.
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