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Table II.F12. - Operations of the OASI and DI Trust Funds, Combined, During Selected Calendar Years 1960-95 and Estimated Future Operations During Calendar 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
Calendar Net contri- tion of of the Net
year Total butions1/ benefits Treasury2/ interest3/
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Historical data:
1960........ $12,445 $11,876 -- -- $569
1965........ 17,857 17,205 -- -- 651
1970........ 36,993 34,737 -- $465 1,791
1975........ 67,640 64,259 -- 515 2,866
1980........ 119,712 116,711 -- 670 2,330
1985........ 203,540 194,149 $3,430 3,220 2,741
1986........ 216,833 209,140 3,662 160 3,871
1987........ 231,039 222,425 3,221 55 5,338
1988........ 263,469 251,814 3,445 43 8,168
1989........ 289,448 274,189 2,534 34 12,692
1990........ 315,443 296,070 4,992 -2,864 17,245
1991........ 329,676 301,711 6,054 19 21,892
1992........ 342,591 311,128 6,084 14 25,365
1993........ 355,578 322,090 5,616 10 27,862
1994........ 381,111 344,695 5,306 7 31,103
1995........ 399,497 359,021 5,831 -332 34,977
Estimates:
1996........ 424,917 379,630 6,869 7 38,411
1997........ 444,348 394,501 7,307 2 42,538
1998........ 468,084 413,392 7,824 2 46,866
1999........ 492,599 432,710 8,383 1 51,505
2000........ 519,656 453,997 8,991 170 56,499
2001........ 548,770 477,316 9,673 (4) 61,781
2002........ 580,228 502,411 10,414 (4) 67,402
2003........ 614,714 530,129 11,222 (4) 73,362
2004........ 651,010 559,279 12,112 (4) 79,619
2005........ 691,277 591,908 13,082 (4) 86,287
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1/ 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.
2/ Includes payments (1) in 1947-51 and in 1966 and later, for costs of non-
contributory wage credits for military service performed before 1957; (2) in
1971-82, for costs of deemed wage credits for military service performed after
1956; and (3) in 1968 and later, for costs of benefits to certain uninsured
persons who attained age 72 before 1968.
3/ 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 1983-90, interest paid from
the trust funds to the general fund on advance tax transfers is reflected. The
amount shown for 1985 includes an interest adjustment of $102.8 million on
unnegotiated checks issued before April 1985.
4/ Less than $500,000.
Table II.F12. - Operations of the OASI and DI Trust Funds, Combined, During Selected Calendar Years 1960-95 and Estimated Future Operations During Calendar 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
Calendar Benefit trative Retirement during at end of
year Total payments1/ expenses program year period
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Historical data:
1960..... $11,798 $11,245 $240 $314 $647 $22,613
1965..... 19,187 18,311 418 459 -1,331 19,841
1970..... 33,108 31,884 635 589 3,886 38,068
1975..... 69,184 67,022 1,152 1,010 -1,544 44,342
1980..... 123,550 120,598 1,522 1,430 -3,838 26,453
1985..... 190,628 186,075 2,200 2,353 2/ 11,088 42,163
1986..... 201,522 196,667 2,202 2,653 2/ 4,698 46,861
1987..... 209,093 204,106 2,373 2,614 21,946 68,807
1988..... 222,514 217,149 2,513 2,851 40,955 109,762
1989..... 236,242 230,882 2,427 2,934 53,206 162,968
1990..... 253,135 247,816 2,270 3,049 62,309 225,277
1991..... 274,205 268,162 2,587 3,457 55,471 280,747
1992..... 291,865 285,995 2,664 3,206 50,726 331,473
1993..... 308,766 302,368 2,963 3,435 46,812 378,285
1994..... 323,011 316,812 2,674 3,526 58,100 436,385
1995..... 339,815 332,554 3,141 4,120 59,683 496,068
Estimates:
1996..... 354,615 347,949 3,110 3,556 70,301 566,369
1997..... 372,709 365,451 3,420 3,838 71,639 638,008
1998..... 391,321 384,216 3,221 3,884 76,762 714,770
1999..... 411,751 404,387 3,401 3,962 80,848 795,618
2000..... 434,055 426,464 3,533 4,057 85,601 881,220
2001..... 458,211 450,400 3,666 4,145 90,559 971,779
2002..... 484,458 476,413 3,811 4,234 95,769 1,067,548
2003..... 512,981 504,665 3,969 4,347 101,732 1,169,281
2004..... 543,923 535,311 4,139 4,472 107,087 1,276,368
2005..... 577,048 568,130 4,319 4,600 114,229 1,390,597
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1/ Beginning in 1966, 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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