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Table II.F8. - Operations of the OASI Trust Fund During Selected Calendar Years 1940-95 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:
1940........ $368 $325 -- -- $43
1945........ 1,420 1,285 -- -- 134
1950........ 2,928 2,667 -- $4 257
1955........ 6,167 5,713 -- -- 454
1960........ 11,382 10,866 -- -- 516
1965........ 16,610 16,017 -- -- 593
1970........ 32,220 30,256 -- 449 1,515
1975........ 59,605 56,619 -- 622 2,364
1980........ 105,841 103,355 -- 641 1,845
1985........ 184,239 176,958 $3,208 2,203 1,871
1986........ 197,393 190,741 3,424 160 3,069
1987........ 210,736 202,735 3,257 55 4,690
1988........ 240,770 229,775 3,384 43 7,568
1989........ 264,653 250,195 2,439 34 11,985
1990........ 286,653 267,530 4,848 -2,089 16,363
1991........ 299,286 272,574 5,864 19 20,829
1992........ 311,162 280,992 5,852 14 24,303
1993........ 323,277 290,905 5,335 10 27,027
1994........ 328,271 293,323 4,995 7 29,946
1995........ 342,801 304,620 5,490 -129 32,820
Estimates:
1996........ 363,989 322,028 6,493 7 35,461
1997........ 385,852 340,148 6,896 2 38,805
1998........ 406,674 356,729 7,373 2 42,571
1999........ 427,969 373,390 7,887 1 46,691
2000........ 448,002 388,283 8,442 172 51,105
2001........ 472,852 408,023 9,068 (4) 55,761
2002........ 500,044 429,480 9,747 (4) 60,818
2003........ 529,959 453,178 10,484 (4) 66,297
2004........ 561,595 478,094 11,293 (4) 72,208
2005........ 596,823 505,986 12,174 (4) 78,663
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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
fund 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 fund. 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 fund to the general fund on advance tax transfers is reflected. The
amount shown for 1985 includes an interest adjustment of $88 million on
unnegotiated checks issued before April 1985.
4/ Less than $500,000.
Table II.F8. - Operations of the OASI Trust Fund During Selected Calendar Years 1940-95 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:
1940..... $62 $35 $26 -- $306 $2,031
1945..... 304 274 30 -- 1,116 7,121
1950..... 1,022 961 61 -- 1,905 13,721
1955..... 5,079 4,968 119 -$7 1,087 21,663
1960..... 11,198 10,677 203 318 184 20,324
1965..... 17,501 16,737 328 436 -890 18,235
1970..... 29,848 28,798 471 579 2,371 32,454
1975..... 60,395 58,517 896 982 -789 36,987
1980..... 107,678 105,082 1,154 1,442 -1,837 22,824
1985..... 171,150 167,248 1,592 2,310 2/ 8,725 35,842
1986..... 181,000 176,813 1,601 2,585 2/ 3,239 39,081
1987..... 187,668 183,587 1,524 2,557 23,068 62,149
1988..... 200,020 195,454 1,776 2,790 40,750 102,899
1989..... 212,489 207,971 1,673 2,845 52,164 155,063
1990..... 227,519 222,987 1,563 2,969 59,134 214,197
1991..... 245,634 240,467 1,792 3,375 53,652 267,849
1992..... 259,861 254,883 1,830 3,148 51,301 319,150
1993..... 273,104 267,755 1,996 3,353 50,173 369,322
1994..... 284,133 279,068 1,645 3,420 44,138 413,460
1995..... 297,760 291,630 2,077 4,052 45,041 458,502
Estimates:
1996..... 309,204 303,680 1,969 3,554 54,786 513,287
1997..... 323,492 317,518 2,194 3,781 62,359 575,646
1998..... 338,449 332,586 2,065 3,797 68,226 643,872
1999..... 354,737 348,754 2,130 3,853 73,232 717,104
2000..... 372,373 366,255 2,187 3,931 75,628 792,732
2001..... 391,564 385,308 2,244 4,012 81,288 874,020
2002..... 412,441 406,047 2,306 4,088 87,604 961,624
2003..... 434,880 428,324 2,374 4,182 95,079 1,056,704
2004..... 459,070 452,335 2,446 4,289 102,525 1,159,229
2005..... 484,922 478,005 2,521 4,397 111,901 1,271,130
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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 DI and HI Trust Funds in 1982. The amount repaid in 1985 was $4,364
million; in 1986, the amount was $13,155 million.
Note: Totals do not necessarily equal the sums of rounded components.
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