2007 OASDI Trustees Report

Contents Previous Next List of Tables List of Figures Index

0VI. APPENDICES

C. FISCAL YEAR HISTORICAL DATA AND
PROJECTIONS THROUGH 2016

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 2006, 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 2006 

[In millions]


Total assets, September 30, 2005
 
$1,615,623
Receipts:
 
Contributions:
   
   
Employment taxes
$531,899
 
   
Payments from the General Fund of the Treasury for contributions subject to refund
-1,892
 
     
Net contributions
 
530,006
 
Income based on taxation of benefit payments:
   
   
Withheld from benefit payments to nonresident aliens
144
 
   
All other, not subject to withholding
15,032
 
     
Total income from taxation of benefits
 
15,176
 
Reimbursement from the general fund for costs of noncontributory wage credits
for military service before 1957
 
-350
 
Reimbursement from the general fund for costs of payments to unin-
sured persons who attained age 72 before 1968
 
1/
 
Investment income and interest adjustments:
   
   
Interest on investments
86,810
   
Interest adjustments 2
514
 
     
Total investment income and interest adjustments
 
87,324
 
Gifts
 
1/
Total receipts
 
632,157
Disbursements:
   
 
Benefit payments:
   
   
Gross benefit payments
455,487
 
   
Offset for collected overpayments
-1,183
 
   
Reimbursement from general fund for excess amounts of voluntary
income tax withholding
-5,063
 
   
Reimbursement from the general fund for unnegotiated checks
-51
 
     
Net benefit payments
 
449,191
 
Transfer to the Railroad Retirement "Social Security Equivalent Benefit Account"
 
3,458
 
Payment for costs of vocational rehabilitation services for disabled beneficiaries
 
3
 
Administrative expenses:
   
   
Costs incurred by:
   
     
Social Security Administration
2,288
 
     
Department of the Treasury
625
 
   
Offsetting receipts from sales of supplies, materials, etc.
1/
 
   
Miscellaneous reimbursements from the general fund 3
-4
 
     
Net administrative expenses
 
2,908
Total disbursements
 
455,560
Net increase in assets
 
176,597
Total assets, September 30, 2006
 
1,792,220

1Between -$500,000 and $500,000.

2Includes (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.

3Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI program.

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

Table VI.C2.-Operations of the DI Trust Fund, Fiscal Year 2006 

[In millions]


Total assets, September 30, 2005
 
$193,298
Receipts:
   
 
Contributions:
   
   
Employment taxes
$90,322
 
   
Payments from the General Fund of the Treasury for contributions subject to refund
-321
 
     
Net contributions
 
90,001
 
Income based on taxation of benefit payments:
   
   
Withheld from benefit payments to nonresident aliens
4
 
   
All other, not subject to withholding
1,170
 
     
Total income from taxation of benefits
 
1,174
 
Investment income and interest adjustments:
   
   
Interest on investments
10,347
 
   
Interest adjustments1
49
 
     
Total investment income and interest adjustments
 
10,396
Total receipts
 
101,571
Disbursements:
   
 
Benefit payments:
   
   
Gross benefit payments
91,371
 
   
Offset for collected overpayments
-695
 
   
Reimbursement from general fund for excess amounts of voluntary
income tax withholding
-588
 
   
Reimbursement from the general fund for unnegotiated checks
-25
 
     
Net benefit payments
 
90,064
 
Transfer to the Railroad Retirement "Social Security Equivalent Benefit Account"
 
388
 
Payment for costs of vocational rehabilitation services for disabled beneficiaries
 
65
 
Administrative expenses:
   
   
Costs incurred by:
   
     
Social Security Administration
2,298
 
     
Department of the Treasury
110
 
   
Miscellaneous reimbursements from the general fund 2
6
 
     
Total administrative expenses
 
2,415
Total disbursements
 
92,932
Net increase in assets
 
8,640
Total assets, September 30, 2006
 
201,938

1Includes (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.

2Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the DI program.

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 2006 

[In millions]


Total assets, September 30, 2005
 
$1,808,922
Receipts:
   
 
Contributions:
   
   
Employment taxes
$622,221
 
   
Payments from the General Fund of the Treasury for contributions subject to refund
-2,213
 
     
Net contributions
 
620,007
 
Income based on taxation of benefit payments:
   
   
Withheld from benefit payments to nonresident aliens
149
 
   
All other, not subject to withholding
16,202
 
     
Total income from taxation of benefits
 
16,351
 
Reimbursement from the general fund for costs of noncontributory wage credits
for military service before 1957
 
-350
 
Reimbursement from the general fund for costs of payments to unin-
sured persons who attained age 72 before 1968
 
1/
 
Investment income and interest adjustments:
   
   
Interest on investments
97,157
 
   
Interest adjustments2
564
 
     
Total investment income and interest adjustments
 
97,720
 
Gifts
 
1/
Total receipts
 
733,728
Disbursements:
   
 
Benefit payments:
   
   
Gross benefit payments
546,859
 
   
Offset for collected overpayments
-1,878
 
   
Reimbursement from general fund for excess amounts of voluntary
income tax withholding
-5,651
 
   
Reimbursement from the general fund for unnegotiated checks
-76
 
     
Net benefit payments
 
539,254
 
Transfer to the Railroad Retirement "Social Security Equivalent Benefit Account"
 
3,846
 
Payment for costs of vocational rehabilitation services for disabled beneficiaries
 
68
 
Administrative expenses:
   
   
Costs incurred by:
   
     
Social Security Administration
4,586
 
     
Department of the Treasury
735
 
   
Offsetting receipts from sales of supplies, materials, etc.
1/
 
   
Miscellaneous reimbursements from the general fund3
2
 
     
Net administrative expenses
 
5,323
Total disbursements
 
548,492
Net increase in assets
 
185,237
Total assets, September 30, 2006
 
1,994,158

1Between -$500,000 and $500,000.

2Includes (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.

3Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI and DI programs.

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

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) 2002-16 are presented in tables VI.C4, VI.C5 and VI.C6, respectively.

Table VI.C4.-Operations of the OASI Trust Fund in Fiscal Years 2002-16

[Amounts in billions]

Fiscal year
Income 
 
Cost
 
Assets
Total1
Net
contri-
butions
Taxa-
tion of
benefits
Net
inter-
est 
Total
Benefit
pay-
ments 
Admin-
istra-
tive costs
RRB
inter-
change
Net
increase
during
year
Amount
at end
of year
Trust
fund
ratio 2
Historical data:
 
2002
$529.3
$448.1
$12.6
$68.1
 
$389.5
$383.9
$2.1
$3.5
 
$139.7
$1,173.6
265
 
2003
542.3
456.0
12.3
74.0
 
402.8
396.7
2.5
3.6
 
139.5
1,313.1
291
 
2004
556.5
466.8
13.3
76.4
 
417.1
411.2
2.3
3.6
 
139.5
1,452.6
315
 
2005
600.0
503.0
15.3
81.7
 
436.9
430.4
2.9
3.6
 
163.1
1,615.6
332
 
2006
632.2
530.0
15.2
87.3
 
455.6
449.2
2.9
3.5
 
176.6
1,792.2
355
Intermediate:
 
2007
665.0
552.7
16.8
95.5
 
484.9
478.4
3.0
3.5
 
180.1
1,972.3
370
 
2008
701.2
580.5
18.4
102.3
 
506.0
499.5
3.1
3.4
 
195.1
2,167.5
390
 
2009
747.1
614.2
20.2
112.7
 
532.0
525.4
3.1
3.5
 
215.1
2,382.6
407
 
2010
796.6
648.9
22.3
125.4
 
564.9
558.3
3.1
3.5
 
231.7
2,614.3
422
 
2011
847.8
683.2
25.0
139.6
 
601.3
594.6
3.1
3.6
 
246.5
2,860.7
435
                             
 
2012
895.9
713.8
27.8
154.2
 
641.3
634.4
3.1
3.8
 
254.6
3,115.4
446
 
2013
946.3
746.0
31.0
169.4
 
687.0
680.0
3.2
3.9
 
259.3
3,374.6
453
 
2014
996.5
777.7
33.7
185.1
 
737.5
730.3
3.2
4.0
 
259.0
3,633.6
458
 
2015
1,048.3
810.8
36.8
200.7
 
791.5
784.0
3.3
4.2
 
256.8
3,890.4
459
 
2016
1,110.2
854.1
40.1
216.0
 
849.4
841.8
3.4
4.3
 
260.8
4,151.2
458
Low Cost:
 
2007
666.0
553.6
16.8
95.6
 
484.8
478.3
3.0
3.5
 
181.2
1,973.5
370
 
2008
708.4
587.4
18.3
102.7
 
504.8
498.3
3.1
3.4
 
203.6
2,177.0
391
 
2009
751.2
618.4
20.1
112.7
 
528.3
521.7
3.1
3.4
 
222.9
2,400.0
412
 
2010
798.0
652.7
22.0
123.3
 
556.2
549.6
3.1
3.5
 
241.8
2,641.8
431
 
2011
846.1
686.0
24.4
135.8
 
586.0
579.4
3.1
3.5
 
260.2
2,901.9
451
                             
 
2012
891.7
715.5
26.8
149.4
 
618.4
611.7
3.1
3.6
 
273.4
3,175.3
469
 
2013
941.1
747.1
29.5
164.4
 
655.7
648.9
3.1
3.7
 
285.4
3,460.6
484
 
2014
990.9
778.5
31.9
180.5
 
696.9
690.0
3.2
3.8
 
294.0
3,754.7
497
 
2015
1,041.8
810.1
34.4
197.3
 
740.6
733.6
3.2
3.9
 
301.2
4,055.8
507
 
2016
1,101.9
851.2
37.2
213.5
 
787.3
780.2
3.2
3.9
 
314.6
4,370.4
515
High Cost:
 
2007
661.2
549.0
16.8
95.4
 
485.1
478.6
3.0
3.5
 
176.1
1,968.3
369
 
2008
681.5
562.9
18.5
100.1
 
509.4
502.8
3.1
3.4
 
172.0
2,140.4
386
 
2009
732.1
600.0
20.5
111.6
 
538.4
531.8
3.1
3.5
 
193.6
2,334.0
398
 
2010
778.4
632.0
22.7
123.8
 
573.9
567.2
3.1
3.6
 
204.5
2,538.5
407
 
2011
827.0
664.5
25.8
136.8
 
619.8
612.9
3.2
3.7
 
207.3
2,745.8
410
                             
 
2012
908.6
716.2
29.4
163.0
 
678.5
671.3
3.3
4.0
 
230.1
2,975.9
405
 
2013
980.6
759.6
33.6
187.4
 
746.2
738.5
3.4
4.2
 
234.4
3,210.3
399
 
2014
1,040.3
798.6
37.3
204.4
 
816.0
807.9
3.5
4.6
 
224.3
3,434.6
393
 
2015
1,096.2
838.0
41.1
217.0
 
885.0
876.6
3.5
4.9
 
211.1
3,645.7
388
 
2016
1,160.6
886.5
45.2
228.8
 
957.9
949.2
3.6
5.1
 
202.7
3,848.4
381

1"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. Transfers for the cost of pre-1957 military service noncontributory wage credits were: (1) $414 million from the General Fund of the Treasury to the OASI Trust Fund in February 2002, and (2) $350 million from the trust fund to the general fund in December 2005. After fiscal year 2006, such transfers are estimated to be less than $500,000 in each year.

2The "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.

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

Table VI.C5.-Operations of the DI Trust Fund in Fiscal Years 2002-16

[Amounts in billions]

Fiscal year
Income 
 
Cost
 
Assets
Total1
Net
contri-
butions
Taxa-
tion of
benefits
Net
inter-
est 
Total
Benefit
pay-
ments 
Admin-
istra-
tive costs
RRB
inter-
change
Net
increase
during
year
Amount
at end
of year
Trust
fund
ratio 2
Historical data:
 
2002
$85.7
$76.1
$0.9
$8.7
 
$66.4
$64.2
$2.0
$0.2
 
$19.4
$155.3
205
 
2003
87.9
77.4
.9
9.6
 
71.9
69.8
2.0
.2
 
16.0
171.3
216
 
2004
90.1
79.3
1.0
9.8
 
78.5
76.2
2.1
.2
 
11.6
182.9
218
 
2005
96.8
85.4
1.2
10.2
 
86.4
83.7
2.3
.3
 
10.4
193.3
212
 
2006
101.6
90.0
1.2
10.4
 
92.9
90.1
2.4
.4
 
8.6
201.9
208
Intermediate:
 
2007
105.9
93.8
1.4
10.7
 
100.1
97.4
2.4
.4
 
5.8
207.7
202
 
2008
110.8
98.6
1.5
10.7
 
105.2
102.4
2.5
.4
 
5.6
213.4
197
 
2009
117.0
104.3
1.7
11.0
 
111.3
108.3
2.6
.4
 
5.7
219.1
192
 
2010
123.5
110.2
2.0
11.3
 
118.7
115.5
2.8
.5
 
4.7
223.8
185
 
2011
129.8
116.0
2.2
11.5
 
125.2
121.8
2.9
.5
 
4.6
228.4
179
                             
 
2012
135.6
121.2
2.6
11.8
 
133.5
129.8
3.1
.5
 
2.1
230.4
171
 
2013
141.5
126.7
2.9
11.9
 
141.7
137.9
3.3
.5
 
-.2
230.2
163
 
2014
147.1
132.1
3.2
11.9
 
149.7
145.7
3.5
.5
 
-2.6
227.6
154
 
2015
152.9
137.7
3.4
11.7
 
158.3
154.1
3.7
.5
 
-5.4
222.2
144
 
2016
160.2
145.0
3.7
11.4
 
167.2
162.8
3.9
.5
 
-7.0
215.1
133
Low Cost:
 
2007
106.0
94.0
1.4
10.7
 
99.1
96.4
2.4
.4
 
6.9
208.9
204
 
2008
112.1
99.7
1.5
10.8
 
102.7
99.8
2.5
.4
 
9.4
218.3
203
 
2009
118.0
105.0
1.7
11.3
 
107.1
104.1
2.6
.4
 
10.9
229.2
204
 
2010
124.5
110.8
1.9
11.7
 
112.2
109.0
2.7
.5
 
12.3
241.5
204
 
2011
130.9
116.5
2.1
12.3
 
116.3
112.9
2.9
.5
 
14.6
256.1
208
                             
 
2012
136.9
121.5
2.3
13.0
 
121.8
118.2
3.1
.5
 
15.1
271.2
210
 
2013
143.3
126.9
2.6
13.8
 
127.2
123.4
3.2
.5
 
16.2
287.3
213
 
2014
149.7
132.2
2.8
14.7
 
132.3
128.4
3.4
.5
 
17.4
304.8
217
 
2015
156.3
137.6
3.0
15.7
 
137.8
133.8
3.6
.5
 
18.4
323.2
221
 
2016
164.4
144.5
3.2
16.7
 
143.6
139.4
3.7
.4
 
20.8
344.0
225
High Cost:
 
2007
105.3
93.2
1.4
10.7
 
102.3
99.6
2.4
.4
 
3.0
204.9
197
 
2008
107.5
95.6
1.6
10.3
 
110.6
107.8
2.5
.4
 
-3.1
201.8
185
 
2009
113.9
101.9
1.9
10.2
 
119.5
116.5
2.6
.4
 
-5.6
196.2
169
 
2010
119.3
107.3
2.2
9.8
 
130.1
126.9
2.7
.5
 
-10.8
185.4
151
 
2011
124.5
112.8
2.5
9.1
 
140.9
137.4
3.0
.6
 
-16.4
169.0
132
                             
 
2012
132.9
121.6
3.0
8.3
 
155.7
151.9
3.3
.5
 
-22.8
146.2
109
 
2013
139.5
129.0
3.5
7.0
 
170.7
166.6
3.5
.6
 
-31.2
115.0
86
 
2014
144.9
135.6
3.9
5.3
 
184.7
180.4
3.7
.6
 
-39.8
75.2
62
 
2015
150.2
142.3
4.3
3.5
 
198.6
194.0
3.9
.6
 
-48.4
26.8
38
 
2016
3/
150.5
4.7
3/
 
213.0
208.2
4.2
.6
 
3/
3/
13

1"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 is expected to be made in December 2007 in the amount of $7.7 million from the General Fund of the Treasury to the DI Trust Fund. Thereafter such transfers are estimated to be less than $500,000 in each year.

2The "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.

3Under the high cost assumptions, the DI Trust Fund is projected to be exhausted in 2016. Therefore, certain trust fund operation values for that year are not meaningful under present law and are not 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
in Fiscal Years 2002-16 

[Amounts in billions]

Fiscal year
Income 
 
Cost
 
Assets
Total1
Net
contri-
butions
Taxa-
tion of
benefits
Net
inter-
est 
Total
Benefit
pay-
ments 
Admin-
istra-
tive costs
RRB
inter-
change
Net
increase
during
year
Amount
at end
of year
Trust
fund
ratio 2
Historical data:
 
2002
$615.0
$524.2
$13.5
$76.8
 
$455.9
$448.1
$4.1
$3.6
 
$159.1
$1,328.8
257
 
2003
630.3
533.4
13.3
83.5
 
474.7
466.5
4.5
3.7
 
155.5
1,484.3
280
 
2004
646.6
546.1
14.3
86.2
 
495.5
487.3
4.3
3.8
 
151.1
1,635.4
300
 
2005
696.8
588.4
16.5
91.8
 
523.3
514.2
5.2
3.9
 
173.5
1,808.9
313
 
2006
733.7
620.0
16.4
97.7
 
548.5
539.3
5.3
3.8
 
185.2
1,994.2
330
Intermediate:
 
2007
770.9
646.6
18.2
106.2
 
585.0
575.8
5.4
3.9
 
185.9
2,180.1
341
 
2008
812.0
679.1
19.9
113.0
 
611.2
601.9
5.6
3.8
 
200.8
2,380.8
357
 
2009
864.1
718.5
22.0
123.7
 
643.3
633.7
5.7
3.9
 
220.8
2,601.7
370
 
2010
920.1
759.1
24.3
136.7
 
683.7
673.8
5.9
4.0
 
236.4
2,838.1
381
 
2011
977.6
799.2
27.3
151.1
 
726.5
716.4
6.1
4.1
 
251.0
3,089.1
391
                             
 
2012
1,031.4
835.1
30.4
166.0
 
774.8
764.2
6.3
4.3
 
256.7
3,345.8
399
 
2013
1,087.8
872.7
33.9
181.3
 
828.8
817.8
6.5
4.4
 
259.1
3,604.8
404
 
2014
1,143.6
909.7
36.9
197.0
 
887.3
876.0
6.7
4.6
 
256.4
3,861.2
406
 
2015
1,201.2
948.5
40.2
212.5
 
949.8
938.1
7.0
4.7
 
251.4
4,112.5
407
 
2016
1,270.4
999.1
43.8
227.5
 
1,016.6
1,004.6
7.2
4.8
 
253.8
4,366.3
405
Low Cost:
 
2007
772.1
647.6
18.1
106.3
 
583.9
574.6
5.4
3.9
 
188.2
2,182.3
342
 
2008
820.5
687.2
19.8
113.5
 
607.5
598.1
5.6
3.8
 
213.0
2,395.3
359
 
2009
869.2
723.4
21.8
124.0
 
635.3
625.8
5.7
3.9
 
233.8
2,629.2
377
 
2010
922.5
763.6
23.8
135.1
 
668.4
658.6
5.8
4.0
 
254.1
2,883.2
393
 
2011
977.0
802.4
26.5
148.1
 
702.3
692.3
6.0
4.0
 
274.8
3,158.0
411
                             
 
2012
1,028.6
837.0
29.1
162.5
 
740.2
729.9
6.2
4.1
 
288.5
3,446.5
427
 
2013
1,084.4
874.0
32.2
178.3
 
782.9
772.4
6.4
4.2
 
301.5
3,748.0
440
 
2014
1,140.6
910.7
34.7
195.2
 
829.2
818.4
6.6
4.2
 
311.5
4,059.4
452
 
2015
1,198.1
947.7
37.4
213.0
 
878.5
867.4
6.8
4.3
 
319.6
4,379.0
462
 
2016
1,266.3
995.7
40.4
230.2
 
930.9
919.6
7.0
4.3
 
335.4
4,714.4
470
High Cost:
 
2007
766.5
642.2
18.2
106.0
 
587.4
578.1
5.4
3.9
 
179.1
2,173.2
339
 
2008
789.0
658.5
20.1
110.4
 
620.0
610.6
5.6
3.8
 
169.0
2,342.2
351
 
2009
846.0
701.9
22.4
121.8
 
657.9
648.3
5.7
3.9
 
188.0
2,530.2
356
 
2010
897.7
739.3
24.8
133.6
 
703.9
694.0
5.8
4.1
 
193.7
2,724.0
359
 
2011
951.5
777.3
28.3
145.9
 
760.7
750.3
6.2
4.2
 
190.8
2,914.8
358
                             
 
2012
1,041.5
837.8
32.4
171.3
 
834.2
823.2
6.6
4.5
 
207.3
3,122.1
349
 
2013
1,120.1
888.5
37.2
194.3
 
916.9
905.2
6.9
4.8
 
203.2
3,325.3
341
 
2014
1,185.2
934.2
41.3
209.7
 
1,000.6
988.3
7.2
5.2
 
184.5
3,509.8
332
 
2015
1,246.3
980.3
45.4
220.5
 
1,083.6
1,070.6
7.5
5.5
 
162.7
3,672.5
324
 
2016
1,316.5
1,037.0
50.0
229.5
 
1,170.9
1,157.4
7.8
5.7
 
145.6
3,818.1
314

1"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.

2The "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.

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


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