Trustees Reports- 1996

Table I.F1. - Ultimate Economic and Demographic Assumptions

-----------------------------------------------------------------------------
        Ultimate assumptions           Intermediate     Low Cost    High Cost
-----------------------------------------------------------------------------
Annual percentage change in:
   Average wage in covered employment.          5.0          4.5          5.5
   Consumer Price Index (CPI).........          4.0          3.0          5.0
                                        -----------  -----------  -----------
  Real-wage differential (percent)....          1.0          1.5          0.5

Unemployment rate (percent)...........          6.0          5.0          7.0
Annual interest rate (percent)........          6.3          6.0          6.5
Total fertility rate (children per
  woman)..............................          1.9          2.2          1.6
Life expectancy at birth in 2070
  (combined average for men and
  women, in years)....................         81.2         78.3         85.1
Annual net immigration (in thousands).        900.0      1,150.0        750.0
-----------------------------------------------------------------------------