2018 OASDI Trustees Report

C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2027

Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2017 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 2017 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 outgo.

Table VI.C1.—Operations of the OASI Trust Fund, Fiscal Year 2017

[In millions]

Total asset reserves, September 30, 2016					$2,796,620
Receipts:
	Net payroll tax contributions:
		Payroll tax contributionsa		$704,865
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund a		-2,741
			Net payroll tax contributions a		702,123
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96 a		9
		Reimbursements directed by P.L. 110-246		6
		Payroll tax credits due to P.L. 98-21 a		b
			Net General Fund reimbursements a		15
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		206
		All other, not subject to withholding a		35,210
			Total income from taxation of benefits a		35,416
	Investment income and interest adjustments:
		Interest on investments		84,887
		Interest adjustments c		1
			Total investment income and interest adjustments		84,888
	Gifts				b
Total receipts					822,442
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		791,126
		Reimbursement from the General Fund for unnegotiated checks		-35
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		4
			Net benefit payments d		791,094
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,316
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	3,046
			Department of the Treasury	520
		Offsetting miscellaneous receipts		-10
		Miscellaneous reimbursements from the General Fund e		-5
			Net administrative expenses		3,551
Total disbursements					798,961
Net increase in asset reserves					23,481
	Total invested assets			2,820,200
	Undisbursed balancesf			-99
Total asset reserves, September 30, 2017					2,820,101

---

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 expenditures exceeded the amount of invested securities of the OASI Trust Fund that were redeemed to pay for such expenditures. In this situation, future redemption of additional invested securities will be required to pay for this shortfall.

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

Table VI.C2.—Operations of the DI Trust Fund, Fiscal Year 2017 

[In millions]

Total asset reserves, September 30, 2016					$45,740
Receipts:
	Net payroll tax contributions:
		Payroll tax contributionsa		$166,543
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund a		-642
			Net payroll tax contributions a		165,901
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96 a		2
		Reimbursements directed by P.L. 110-246		1
		Payroll tax credits due to P.L. 98-21 a		b
			Net General Fund reimbursements a		3
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		4
		All other, not subject to withholding a		1,947
			Total income from taxation of benefits a		1,951
	Investment income and interest adjustments:
		Interest on investments		1,624
		Interest adjustmentsc		2
			Total investment income and interest adjustments		1,625
	Gifts				—
Total receipts					169,480
Disbursements:
	Benefit payments:
		Monthly benefitsd		142,823
		Reimbursement from the General Fund for unnegotiated checks		-19
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		79
			Net benefit payments d		142,883
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				207
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,580
			Department of the Treasury	100
		Offsetting miscellaneous receipts		b
		Demonstration projects		10
		Miscellaneous reimbursements from the General Fund e		-3
			Net administrative expenses		2,686
Total disbursements					145,776
Net increase in asset reserves					23,704
	Total invested assets			69,669
	Undisbursed balancesf			-225
Total asset reserves, September 30, 2017					69,444

---

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 expenditures exceeded the amount of invested securities of the DI Trust Fund that were redeemed to pay for such expenditures. In this situation, future redemption of additional invested securities will be required to pay for this shortfall.

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 2017 

[In millions]

Total asset reserves, September 30, 2016					$2,842,360
Receipts:
	Net payroll tax contributions:
		Payroll tax contributionsa		$871,408
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund a		-3,384
			Net payroll tax contributions a		868,024
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96 a		11
		Reimbursements directed by P.L. 110-246		7
		Payroll tax credits due to P.L. 98-21 a		b
			Net General Fund reimbursements a		18
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		210
		All other, not subject to withholding a		37,157
			Total income from taxation of benefits a		37,367
	Investment income and interest adjustments:
		Interest on investments		86,510
		Interest adjustmentsc		3
			Total investment income and interest adjustments		86,513
	Gifts				b
Total receipts					991,922
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		933,948
		Reimbursement from the General Fund for unnegotiated checks		-54
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		83
			Net benefit payments d		933,977
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,522
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	5,626
			Department of the Treasury	620
		Offsetting miscellaneous receipts		-10
		Demonstration projects		10
		Miscellaneous reimbursements from the General Funde		-8
			Net administrative expenses		6,237
Total disbursements					944,737
Net increase in asset reserves					47,185
	Total invested assets			2,889,869
	Undisbursed balancesf			-325
Total asset reserves, September 30, 2017					2,889,545

---

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 expenditures exceeded the amount of invested securities of the OASI and DI Trust Funds that were redeemed to pay for such expenditures. In this situation, future net redemption of additional invested securities will be required to pay for this shortfall.

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

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 2013 through 2027.

Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2013-2027

[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	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio c
Historical data:
	2013	$739.7	$590.0	$26.4	$23.1	$100.1		$670.6	$663.2	$3.4	$3.9		$69.1	$2,655.0	386
	2014	763.3	642.3	.1	24.6	96.3		705.6	698.2	3.2	4.3		57.6	2,712.7	376
	2015	795.3	672.2	.2	29.6	93.2		741.5	733.7	3.5	4.3		53.9	2,766.6	366
	2016	799.9	679.6	.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
Intermediate:
	2018	819.6	704.1	d	34.0	81.5		841.6	833.4	3.5	4.7		-22.0	2,798.1	335
	2019	899.6	784.7	d	35.1	79.7		894.5	886.3	3.3	4.8		5.1	2,803.2	313
	2020	950.6	832.1	d	39.4	79.1		955.5	947.4	3.2	4.9		-4.9	2,798.2	293
	2021	1,002.6	880.4	d	43.4	78.9		1,020.5	1,012.2	3.4	4.9		-17.9	2,780.4	274
	2022	1,053.4	927.3	d	47.5	78.6		1,089.0	1,080.3	3.6	5.2		-35.6	2,744.7	255
	2023	1,099.8	970.8	d	51.7	77.4		1,161.7	1,152.7	3.7	5.2		-61.8	2,682.9	236
	2024	1,153.5	1,019.4	d	56.2	77.9		1,238.3	1,229.1	3.9	5.3		-84.8	2,598.1	217
	2025	1,206.2	1,067.3	d	61.1	77.8		1,317.0	1,307.6	4.0	5.3		-110.7	2,487.4	197
	2026	1,271.7	1,120.6	d	74.0	77.1		1,398.8	1,389.2	4.2	5.5		-127.2	2,360.2	178
	2027	1,328.4	1,168.4	d	82.8	77.2		1,484.1	1,474.3	4.3	5.5		-155.7	2,204.6	159
Low-cost:
	2018	822.7	706.9	d	34.0	81.8		841.2	833.0	3.5	4.7		-18.5	2,801.6	335
	2019	927.6	809.8	d	35.2	82.6		897.0	888.8	3.3	4.8		30.7	2,832.3	312
	2020	1,003.3	876.9	d	39.7	86.6		963.8	955.7	3.2	4.9		39.5	2,871.7	294
	2021	1,079.1	944.5	d	44.0	90.5		1,034.2	1,025.9	3.5	4.9		44.8	2,916.6	278
	2022	1,154.1	1,010.6	d	48.3	95.1		1,108.4	1,099.6	3.7	5.1		45.6	2,962.2	263
	2023	1,228.5	1,073.8	d	52.8	101.9		1,187.6	1,178.4	3.9	5.2		40.9	3,003.1	249
	2024	1,311.9	1,144.0	d	57.7	110.1		1,271.7	1,262.3	4.1	5.3		40.1	3,043.2	236
	2025	1,397.0	1,214.9	d	63.0	119.1		1,359.1	1,349.4	4.3	5.4		37.9	3,081.1	224
	2026	1,499.4	1,293.5	d	76.8	129.2		1,450.9	1,440.8	4.5	5.5		48.6	3,129.7	212
	2027	1,596.3	1,368.2	d	86.3	141.8		1,547.6	1,537.3	4.7	5.5		48.7	3,178.4	202
High-cost:
	2018	817.8	702.3	d	34.0	81.5		842.0	833.8	3.5	4.7		-24.1	2,796.0	335
	2019	868.1	755.0	d	35.0	78.1		890.6	882.4	3.3	4.9		-22.5	2,773.5	314
	2020	888.1	776.3	d	38.9	72.9		944.1	935.9	3.2	5.0		-56.0	2,717.5	294
	2021	921.8	810.0	d	42.7	69.1		1,003.1	994.9	3.3	4.9		-81.4	2,636.1	271
	2022	950.2	839.9	d	46.5	63.8		1,066.0	1,057.4	3.4	5.2		-115.8	2,520.3	247
	2023	976.8	867.1	d	50.4	59.4		1,132.2	1,123.4	3.5	5.2		-155.3	2,364.9	223
	2024	1,006.2	898.1	d	54.6	53.6		1,201.6	1,192.6	3.6	5.3		-195.3	2,169.6	197
	2025	1,035.4	928.4	d	59.0	48.0		1,272.1	1,263.1	3.7	5.3		-236.8	1,932.9	171
	2026	1,077.1	963.0	d	71.1	43.0		1,344.7	1,335.5	3.8	5.4		-267.6	1,665.3	144
	2027	1,108.9	991.2	d	79.2	38.5		1,419.1	1,409.8	3.9	5.4		-310.2	1,355.1	117

---

a

Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (2) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (3) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (4) 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: Totals do not necessarily equal the sums of rounded components.

Table VI.C5.—Operations of the DI Trust Fund, Fiscal Years 2013-2027^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 bene-fitsc	Net interest		Total	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio d
Historical data:
	2013	$111.3	$100.2	$4.5	$1.1	$5.5		$142.8	$139.4	$2.8	$0.6		-$31.5	$100.5	92
	2014	114.1	109.1	e	1.0	4.0		144.7	141.3	2.9	.4		-30.6	69.9	69
	2015	118.0	114.2	e	1.0	2.7		146.2	142.9	2.9	.4		-28.3	41.7	48
	2016	150.3	147.6	e	1.2	1.5		146.2	143.1	2.8	.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
Intermediate:
	2018	170.4	166.5	e	1.7	2.2		148.0	145.0	2.9	.2		22.4	91.8	47
	2019	151.0	146.5	e	1.6	2.9		152.0	149.1	2.8	.1		-1.0	90.8	60
	2020	146.0	141.3	e	1.8	2.9		156.1	153.2	2.8	.2		-10.1	80.7	58
	2021	154.1	149.5	e	1.9	2.7		161.5	158.3	3.0	.2		-7.4	73.3	50
	2022	161.9	157.5	e	2.1	2.4		167.5	164.1	3.3	.1		-5.6	67.7	44
	2023	169.3	164.9	e	2.2	2.2		174.6	170.8	3.6	.1		-5.3	62.4	39
	2024	177.6	173.1	e	2.4	2.1		182.2	178.2	3.9	.1		-4.6	57.8	34
	2025	185.7	181.2	e	2.6	1.9		191.0	186.8	4.1	.1		-5.3	52.5	30
	2026	195.2	190.3	e	3.2	1.7		200.3	195.8	4.4	.1		-5.1	47.4	26
	2027	203.5	198.4	e	3.5	1.6		209.8	205.1	4.7	.1		-6.3	41.1	23
Low-cost:
	2018	171.1	167.2	e	1.7	2.3		146.5	143.5	2.9	.2		24.6	94.1	47
	2019	156.0	151.0	e	1.6	3.4		149.1	146.2	2.8	.1		6.9	100.9	63
	2020	154.7	148.9	e	1.8	4.0		152.4	149.5	2.8	.2		2.3	103.2	66
	2021	166.8	160.4	e	1.9	4.5		156.8	153.5	3.1	.1		10.0	113.3	66
	2022	178.9	171.6	e	2.0	5.3		161.8	158.3	3.4	.1		17.1	130.4	70
	2023	191.1	182.3	e	2.1	6.6		167.8	164.0	3.7	.1		23.3	153.6	78
	2024	204.8	194.3	e	2.3	8.2		174.5	170.4	4.0	.1		30.3	183.9	88
	2025	219.0	206.3	e	2.5	10.3		182.6	178.2	4.3	.1		36.5	220.4	101
	2026	235.5	219.7	e	3.0	12.8		191.1	186.4	4.7	.1		44.4	264.7	115
	2027	251.6	232.3	e	3.4	15.9		200.2	195.1	5.0	.1		51.4	316.2	132
High-cost:
	2018	169.9	166.1	e	1.7	2.1		149.6	146.5	2.9	.2		20.4	89.8	46
	2019	145.4	141.3	e	1.7	2.5		154.8	151.8	2.8	.1		-9.3	80.5	58
	2020	135.8	131.8	e	1.8	2.1		159.4	156.5	2.8	.2		-23.7	56.8	50
	2021	141.1	137.5	e	2.0	1.6		165.6	162.4	3.0	.2		-24.5	32.4	34
	2022	145.6	142.6	e	2.1	.8		172.4	169.0	3.3	.2		-26.8	5.6	19
	2023	f	147.2	e	2.3	f		179.9	176.3	3.5	.1		f	f	3
	2024	f	152.5	e	2.5	f		188.0	184.1	3.7	.1		f	f	f
	2025	f	157.6	e	2.7	f		197.1	193.0	3.9	.1		f	f	f
	2026	f	163.5	e	3.3	f		206.5	202.2	4.1	.1		f	f	f
	2027	f	168.3	e	3.7	f		216.0	211.5	4.3	.1		f	f	f

---

a

The DI Trust Fund becomes depleted in fiscal year 2023 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: Totals do not necessarily equal the sums of rounded components.

Table VI.C6.—Operations of the Combined OASI and DI Trust Funds,
Fiscal Years 2013-2027 

[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	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio c
Historical data:
	2013	$850.9	$690.1	$30.9	$24.2	$105.7		$813.3	$802.6	$6.2	$4.5		$37.6	$2,755.5	334
	2014	877.4	751.3	.2	25.7	100.3		850.3	839.6	6.0	4.7		27.1	2,782.6	324
	2015	913.3	786.4	.3	30.7	96.0		887.7	876.6	6.4	4.7		25.6	2,808.2	313
	2016	950.2	827.1	.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
Intermediate:
	2018	990.0	870.6	d	35.7	83.7		989.6	978.4	6.4	4.9		.4	2,889.9	292
	2019	1,050.6	931.2	d	36.8	82.6		1,046.5	1,035.4	6.1	5.0		4.1	2,894.0	276
	2020	1,096.6	973.4	d	41.2	82.0		1,111.7	1,100.6	6.0	5.1		-15.1	2,878.9	260
	2021	1,156.8	1,029.8	d	45.4	81.5		1,182.0	1,170.5	6.4	5.1		-25.3	2,853.7	244
	2022	1,215.3	1,084.8	d	49.5	81.0		1,256.6	1,244.4	6.9	5.3		-41.3	2,812.4	227
	2023	1,269.1	1,135.6	d	53.9	79.6		1,336.2	1,323.5	7.3	5.4		-67.1	2,745.3	210
	2024	1,331.0	1,192.5	d	58.6	79.9		1,420.5	1,407.3	7.7	5.4		-89.4	2,655.9	193
	2025	1,392.0	1,248.6	d	63.7	79.7		1,508.0	1,494.4	8.2	5.4		-116.0	2,539.9	176
	2026	1,466.9	1,310.9	d	77.2	78.9		1,599.1	1,585.0	8.6	5.6		-132.2	2,407.7	159
	2027	1,531.9	1,366.8	d	86.4	78.8		1,693.9	1,679.3	9.0	5.6		-162.0	2,245.7	142
Low-cost:
	2018	993.9	874.1	d	35.7	84.1		987.8	976.5	6.4	4.9		6.1	2,895.7	293
	2019	1,083.7	960.8	d	36.8	86.1		1,046.1	1,035.0	6.1	4.9		37.6	2,933.2	277
	2020	1,157.9	1,025.8	d	41.5	90.6		1,116.2	1,105.2	6.0	5.0		41.7	2,975.0	263
	2021	1,245.9	1,104.9	d	45.9	95.0		1,191.0	1,179.4	6.5	5.0		54.9	3,029.8	250
	2022	1,333.0	1,182.2	d	50.3	100.4		1,270.2	1,257.9	7.1	5.3		62.7	3,092.6	239
	2023	1,419.5	1,256.1	d	55.0	108.4		1,355.4	1,342.5	7.6	5.3		64.1	3,156.7	228
	2024	1,516.6	1,338.3	d	60.0	118.3		1,446.3	1,432.7	8.1	5.4		70.4	3,227.1	218
	2025	1,616.0	1,421.2	d	65.5	129.4		1,541.6	1,527.5	8.6	5.5		74.4	3,301.5	209
	2026	1,734.9	1,513.2	d	79.8	142.0		1,642.0	1,627.2	9.2	5.6		93.0	3,394.5	201
	2027	1,847.9	1,600.5	d	89.7	157.7		1,747.8	1,732.4	9.7	5.6		100.1	3,494.6	194
High-cost:
	2018	987.8	868.4	d	35.7	83.6		991.5	980.3	6.4	4.9		-3.8	2,885.8	291
	2019	1,013.5	896.2	d	36.6	80.6		1,045.4	1,034.3	6.1	5.0		-31.8	2,853.9	276
	2020	1,023.9	908.1	d	40.7	75.1		1,103.6	1,092.4	6.0	5.1		-79.7	2,774.3	259
	2021	1,062.9	947.6	d	44.7	70.7		1,168.7	1,157.2	6.3	5.1		-105.8	2,668.5	237
	2022	1,095.8	982.6	d	48.6	64.6		1,238.4	1,226.3	6.7	5.3		-142.6	2,525.9	215
	2023	1,126.1	1,014.4	d	52.7	59.1		1,312.1	1,299.7	7.0	5.4		-186.0	2,339.8	193
	2024	1,159.8	1,050.6	d	57.0	52.1		1,389.6	1,376.8	7.4	5.4		-229.8	2,110.0	168
	2025	1,192.8	1,086.0	d	61.7	45.1		1,469.2	1,456.1	7.7	5.4		-276.4	1,833.6	144
	2026	1,239.3	1,126.5	d	74.4	38.3		1,551.1	1,537.6	8.0	5.5		-311.9	1,521.8	118
	2027	1,274.3	1,159.5	d	82.8	32.0		1,635.1	1,621.3	8.3	5.5		-360.8	1,161.0	93

---

a

Includes reimbursements from the General Fund of the Treasury to the OASI and DI Trust Funds for: (1) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (2) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (3) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (4) 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.