2016 OASDI Trustees Report

C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2025

Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2015 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 2015 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 2015

[In millions]

Total asset reserves, September 30, 2014					$2,712,699
Receipts:
	Net payroll tax contributions:
		Payroll tax contributionsa		$674,639
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refunda		-2,393
			Net payroll tax contributionsa		672,246
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		205
		Reimbursements directed by P.L. 110-246		7
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		211
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		189
		All other, not subject to withholdinga		29,438
			Total income from taxation of benefitsa		29,627
	Investment income and interest adjustments:
		Interest on investments		93,234
		Interest adjustments c		1
			Total investment income and interest adjustments		93,235
	Gifts				—
Total receipts					795,319
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		733,742
		Reimbursement from the General Fund for unnegotiated checks		-34
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		2
			Net benefit paymentsd		733,711
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,258
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	3,003
			Department of the Treasury	502
		Offsetting miscellaneous receipts		-5
		Miscellaneous reimbursements from the General Fund e		-5
			Net administrative expenses		3,496
Total disbursements					741,464
Net increase in asset reserves					53,855
	Total invested assets			2,766,649
	Undisbursed balancesf			-95
Total asset reserves, September 30, 2015					2,766,554

---

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 2015 

[In millions]

Total asset reserves, September 30, 2014					$69,925
Receipts:
	Net payroll tax contributions:
		Payroll tax contributionsa		$114,562
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refunda		-406
			Net payroll tax contributionsa		114,156
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		38
		Reimbursements directed by P.L. 110-246		1
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		39
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		4
		All other, not subject to withholdinga		1,032
			Total income from taxation of benefitsa		1,036
	Investment income and interest adjustments:
		Interest on investments		2,732
		Interest adjustmentsc		1
			Total investment income and interest adjustments		2,733
Total receipts					117,965
Disbursements:
	Benefit payments:
		Monthly benefitsd		142,835
		Reimbursement from the General Fund for unnegotiated checks		-19
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		108
			Net benefit paymentsd		142,923
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				419
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,793
			Department of the Treasury	88
		Demonstration projects		15
		Miscellaneous reimbursements from the General Fund e		-3
			Net administrative expenses		2,892
Total disbursements					146,234
Net increase in asset reserves					-28,269
	Total invested assets			41,638
	Undisbursed balancesf			18
Total asset reserves, September 30, 2015					41,656

---

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 positive balance represents a situation where more of the invested securities of the DI Trust Fund were redeemed than was needed to cover actual program cash expenditures.

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 2015 

[In millions]

Total asset reserves, September 30, 2014					$2,782,624
Receipts:
	Net payroll tax contributions:
		Payroll tax contributionsa		$789,201
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refunda		-2,800
			Net payroll tax contributionsa		786,402
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		243
		Reimbursements directed by P.L. 110-246		8
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		251
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		193
		All other, not subject to withholdinga		30,470
			Total income from taxation of benefitsa		30,663
	Investment income and interest adjustments:
		Interest on investments		95,966
		Interest adjustmentsc		2
			Total investment income and interest adjustments		95,968
	Gifts				—
Total receipts					913,284
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		876,577
		Reimbursement from the General Fund for unnegotiated checks		-53
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		110
			Net benefit paymentsd		876,634
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,677
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	5,796
			Department of the Treasury	590
		Offsetting miscellaneous receipts		-5
		Demonstration projects		15
		Miscellaneous reimbursements from the General Funde		-8
			Net administrative expenses		6,388
Total disbursements					887,698
Net increase in asset reserves					25,586
	Total invested assets			2,808,287
	Undisbursed balances7			-78
Total asset reserves, September 30, 2015					2,808,210

---

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 2011 through 2025.

Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2011-2025

[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:
	2011	$692.5	$495.0	$68.9	$21.2	$107.4		$599.2	$591.5	$3.6	$4.1		$93.3	$2,491.7	400
	2012	729.0	500.7	95.9	27.2	105.2		634.7	627.2	3.4	4.1		94.3	2,585.9	393
	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
Intermediate:
	2016	789.4	669.1	.1	31.2	89.1		770.9	763.4	3.2	4.2		18.6	2,785.1	359
	2017	815.8	692.9	d	36.4	86.5		804.0	796.5	3.3	4.1		11.8	2,796.9	346
	2018	862.7	737.4	d	39.9	85.4		857.8	849.9	3.3	4.5		4.9	2,801.9	326
	2019	942.3	811.0	d	43.7	87.6		919.7	911.6	3.5	4.6		22.6	2,824.5	305
	2020	999.9	863.6	d	47.6	88.6		985.0	976.7	3.6	4.7		14.9	2,839.4	287
	2021	1,058.5	915.6	d	51.8	91.1		1,051.0	1,042.5	3.7	4.7		7.5	2,846.9	270
	2022	1,113.6	964.4	d	56.4	92.9		1,123.2	1,114.4	3.9	5.0		-9.7	2,837.2	253
	2023	1,161.5	1,006.5	d	61.3	93.7		1,201.8	1,192.7	4.0	5.1		-40.3	2,796.9	236
	2024	1,216.4	1,054.3	d	66.7	95.4		1,285.8	1,276.5	4.1	5.2		-69.4	2,727.4	218
	2025	1,269.2	1,100.9	d	72.4	95.8		1,372.7	1,363.2	4.2	5.2		-103.5	2,623.9	199
Low-cost:
	2016	791.8	671.2	.1	31.2	89.3		770.6	763.1	3.2	4.2		21.2	2,787.8	359
	2017	836.0	710.9	d	36.5	88.6		805.9	798.5	3.3	4.1		30.1	2,817.9	346
	2018	902.6	769.7	d	40.2	92.7		864.9	857.1	3.3	4.5		37.7	2,855.6	326
	2019	1,002.0	860.4	d	44.3	97.3		932.0	923.8	3.5	4.6		70.0	2,925.6	306
	2020	1,082.5	929.4	d	48.5	104.6		1,002.6	994.1	3.7	4.7		79.9	3,005.5	292
	2021	1,162.4	997.9	d	52.9	111.6		1,074.5	1,065.9	3.9	4.7		88.0	3,093.5	280
	2022	1,241.4	1,064.3	d	57.9	119.3		1,153.4	1,144.3	4.1	5.0		88.0	3,181.5	268
	2023	1,319.9	1,127.0	d	63.3	129.6		1,239.6	1,230.2	4.3	5.2		80.2	3,261.7	257
	2024	1,408.2	1,197.9	d	69.1	141.1		1,332.5	1,322.8	4.4	5.3		75.7	3,337.4	245
	2025	1,497.6	1,269.1	d	75.4	153.0		1,429.7	1,419.7	4.6	5.3		67.9	3,405.3	233
High-cost:
	2016	785.9	665.6	.1	31.2	89.0		771.2	763.7	3.2	4.2		14.8	2,781.3	359
	2017	779.2	659.2	d	36.4	83.6		803.8	796.3	3.3	4.2		-24.6	2,756.7	346
	2018	805.5	686.5	d	39.6	79.4		851.7	843.8	3.3	4.6		-46.2	2,710.5	324
	2019	869.3	748.9	d	43.2	77.3		908.7	900.5	3.4	4.7		-39.3	2,671.2	298
	2020	908.6	786.7	d	46.9	75.1		968.8	960.6	3.5	4.8		-60.2	2,611.0	276
	2021	946.6	823.8	d	50.7	72.2		1,029.0	1,020.7	3.6	4.7		-82.3	2,528.6	254
	2022	981.0	857.8	d	54.9	68.3		1,094.6	1,085.9	3.7	5.0		-113.6	2,415.0	231
	2023	1,008.8	886.6	d	59.5	62.7		1,165.5	1,156.6	3.8	5.1		-156.7	2,258.3	207
	2024	1,041.1	919.0	d	64.4	57.8		1,240.5	1,231.5	3.9	5.2		-199.4	2,058.9	182
	2025	1,070.4	948.7	d	69.5	52.2		1,317.1	1,308.1	3.9	5.1		-246.7	1,812.2	156

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a

Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (3) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (4) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (5) 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 2011-2025^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:
	2011	$106.2	$84.0	$11.7	$1.9	$8.6		$131.5	$128.0	$3.0	$0.5		-$25.3	$161.7	142
	2012	108.8	85.1	16.2	.4	7.2		138.5	135.1	2.9	.5		-29.7	132.0	117
	2013	111.3	100.2	4.5	1.1	5.5		142.8	139.4	2.8	.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
Intermediate:
	2016	148.4	145.7	e	1.2	1.5		148.9	145.5	3.1	.3		-.5	41.2	28
	2017	167.4	163.7	e	2.1	1.6		151.9	148.6	3.1	.2		15.5	56.7	27
	2018	178.9	174.2	e	2.2	2.4		157.5	154.3	3.1	.1		21.3	78.0	36
	2019	156.9	151.3	e	2.4	3.2		164.4	160.9	3.5	e		-7.5	70.5	47
	2020	152.0	146.7	e	2.6	2.7		171.1	167.2	3.8	.1		-19.1	51.3	41
	2021	160.2	155.5	e	2.8	1.9		178.5	174.3	4.1	.1		-18.3	33.0	29
	2022	168.0	163.8	e	3.0	1.2		186.5	182.1	4.4	.1		-18.6	14.4	18
	2023	6	170.9	e	3.3	f		194.8	190.1	4.7	e		f	f	7
	2024	f	179.0	e	3.5	f		203.0	198.1	4.9	e		f	f	f
	2025	f	186.9	e	3.8	f		212.0	206.8	5.2	e		f	f	f
Low-cost:
	2016	148.9	146.2	e	1.2	1.6		147.5	144.1	3.1	.3		1.5	43.1	28
	2017	172.0	168.0	e	2.0	2.0		149.1	145.8	3.1	.2		22.9	66.0	29
	2018	187.4	181.9	e	2.2	3.3		153.6	150.4	3.1	.1		33.8	99.8	43
	2019	167.6	160.3	e	2.4	4.9		159.2	155.6	3.5	e		8.4	108.2	63
	2020	165.6	157.8	e	2.5	5.2		164.7	160.7	3.9	.1		.9	109.1	66
	2021	177.6	169.5	e	2.7	5.4		170.9	166.5	4.3	.1		6.7	115.8	64
	2022	189.5	180.7	e	2.9	5.9		177.8	173.1	4.6	e		11.8	127.5	65
	2023	201.5	191.4	e	3.1	7.0		185.0	180.1	5.0	e		16.4	144.0	69
	2024	215.0	203.4	e	3.3	8.2		192.4	187.1	5.3	e		22.6	166.5	75
	2025	228.9	215.5	e	3.5	9.8		200.6	194.9	5.7	e		28.3	194.8	83
High-cost:
	2016	147.6	144.8	e	1.2	1.5		150.2	146.8	3.1	.3		-2.6	39.0	28
	2017	159.2	155.8	e	2.1	1.4		155.4	152.1	3.1	.2		3.8	42.9	25
	2018	166.1	162.2	e	2.3	1.5		162.8	159.5	3.1	.1		3.3	46.1	26
	2019	144.0	139.9	e	2.5	1.6		171.2	167.7	3.4	.1		-27.3	18.9	27
	2020	f	133.6	e	2.8	f		178.6	174.8	3.7	.1		f	f	11
	2021	f	139.9	e	3.0	f		186.2	182.1	3.9	.1		f	f	f
	2022	f	145.7	e	3.2	f		194.4	190.1	4.2	.1		f	f	f
	2023	f	150.6	e	3.4	f		202.9	198.4	4.4	.1		f	f	f
	2024	f	156.1	e	3.6	f		211.3	206.7	4.6	e		f	f	f
	2025	f	161.1	e	3.9	f		220.4	215.6	4.8	e		f	f	f

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a

The DI Trust Fund becomes depleted in fiscal years 2023 and 2020 under the intermediate and high-cost assumptions, respectively. 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 noncontributory wage credits for military service before 1957; (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.

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 2011-2025 

[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:
	2011	$798.7	$579.1	$80.6	$23.1	$116.0		$730.7	$719.5	$6.7	$4.6		$68.0	$2,653.3	354
	2012	837.8	585.7	112.2	27.5	112.4		773.2	762.3	6.3	4.7		64.6	2,717.9	343
	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
Intermediate:
	2016	937.9	814.7	.1	32.4	90.6		919.8	908.9	6.3	4.6		18.1	2,826.3	305
	2017	983.2	856.6	d	38.5	88.1		955.9	945.2	6.4	4.3		27.3	2,853.6	296
	2018	1,041.5	911.6	d	42.1	87.8		1,015.3	1,004.2	6.4	4.6		26.2	2,879.9	281
	2019	1,099.2	962.3	d	46.1	90.8		1,084.1	1,072.5	7.0	4.7		15.1	2,894.9	266
	2020	1,151.9	1,010.3	d	50.3	91.3		1,156.1	1,143.9	7.4	4.8		-4.3	2,890.7	250
	2021	1,218.7	1,071.1	d	54.6	93.0		1,229.5	1,216.9	7.9	4.8		-10.8	2,879.9	235
	2022	1,281.5	1,128.1	d	59.4	94.0		1,309.8	1,296.5	8.3	5.1		-28.2	2,851.6	220
	2023	1,335.7	1,177.4	d	64.6	93.7		1,396.6	1,382.8	8.7	5.1		-60.9	2,790.7	204
	2024	1,398.0	1,233.3	d	70.2	94.5		1,488.8	1,474.6	9.1	5.2		-90.8	2,699.9	187
	2025	1,457.9	1,287.9	d	76.2	93.9		1,584.7	1,570.0	9.4	5.2		-126.7	2,573.2	170
Low-cost:
	2016	940.7	817.3	.1	32.4	90.9		918.0	907.2	6.3	4.6		22.7	2,830.9	306
	2017	1,008.0	878.9	d	38.5	90.5		955.0	944.3	6.4	4.3		53.0	2,883.9	296
	2018	1,090.0	951.6	d	42.4	96.0		1,018.5	1,007.5	6.4	4.6		71.5	2,955.4	283
	2019	1,169.6	1,020.8	d	46.6	102.2		1,091.2	1,079.5	7.1	4.7		78.4	3,033.8	271
	2020	1,248.1	1,087.2	d	51.0	109.8		1,167.3	1,154.8	7.6	4.8		80.8	3,114.6	260
	2021	1,340.0	1,167.4	d	55.6	117.0		1,245.4	1,232.4	8.2	4.8		94.6	3,209.3	250
	2022	1,430.9	1,245.0	d	60.7	125.2		1,331.2	1,317.4	8.7	5.1		99.8	3,309.1	241
	2023	1,521.3	1,318.4	d	66.3	136.6		1,424.7	1,410.3	9.2	5.2		96.6	3,405.7	232
	2024	1,623.1	1,401.4	d	72.4	149.3		1,524.9	1,509.9	9.8	5.3		98.2	3,503.9	223
	2025	1,726.5	1,484.6	d	79.0	162.8		1,630.2	1,614.6	10.3	5.3		96.2	3,600.1	215
High-cost:
	2016	933.5	810.5	.1	32.4	90.5		921.4	910.5	6.3	4.6		12.1	2,820.3	305
	2017	938.4	814.9	d	38.5	84.9		959.1	948.4	6.4	4.3		-20.8	2,799.6	294
	2018	971.6	848.8	d	41.9	80.9		1,014.5	1,003.3	6.4	4.7		-42.9	2,756.7	276
	2019	1,013.3	888.7	d	45.7	78.8		1,079.9	1,068.3	6.9	4.8		-66.6	2,690.1	255
	2020	1,045.1	920.3	d	49.6	75.2		1,147.5	1,135.4	7.2	4.9		-102.4	2,587.7	234
	2021	1,088.0	963.7	d	53.6	70.7		1,215.2	1,202.8	7.5	4.8		-127.1	2,460.6	213
	2022	1,126.6	1,003.4	d	58.1	65.1		1,289.0	1,276.1	7.8	5.1		-162.5	2,298.1	191
	2023	1,157.3	1,037.2	d	62.9	57.3		1,368.4	1,355.1	8.1	5.1		-211.0	2,087.1	168
	2024	1,193.0	1,075.0	d	68.0	50.0		1,451.8	1,438.2	8.4	5.2		-258.8	1,828.3	144
	2025	1,225.0	1,109.8	d	73.4	41.8		1,537.5	1,523.6	8.7	5.2		-312.4	1,515.8	119

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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 noncontributory wage credits for military service before 1957; (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (3) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (4) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (5) 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.