Short-Range Actuarial Projections
of the Old-Age, Survivors, and
Disability Insurance Program, 2005

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ACTUARIAL STUDY NO. 119
by Chris Motsiopoulos
and Richard B. Tucker

V.B12.—Operations of the Combined OASI and DI Trust Funds
(High cost alternative, calendar quarters 2005-14)
[In millions]
Calendar
period
Income
Disbursements
Interfund
borrowing
transfers 
Net
increase
in funds
Funds
at end
of period
Net
contri-
butions 
Income
from
taxation
of benefits
Military service  1
Payments
to unin-sured
persons2
Net
interest 3
Total
Benefit
payments 4
Administrative
expenses
Transfers
to Railroad
Retirement
program
Total
2005-I
$147,396.1
$3,937.1
...
...
$114.3
$151,447.4
$128,731.2
$1,445.3
...
$130,176.5
...
$21,270.9
$1,708,110.4
2005-II
162,856.8
3,707.9
...
...
46,425.6
212,990.4
129,782.9
1,148.9
$3,791.6
134,723.4
...
78,267.0
1,786,377.4
2005-III
135,869.9
3,722.0
...
...
130.5
139,723.3
130,401.2
1,402.2
...
131,803.4
...
7,919.9
1,794,297.3
2005-IV
126,923.4
3,756.1
...
$0.1
45,533.0
176,211.2
131,715.6
1,275.6
...
132,991.2
...
43,220.0
1,837,517.3
2006-I
153,244.3
4,098.8
...
...
404.2
157,747.0
135,416.3
1,502.7
...
136,918.9
...
20,828.0
1,858,345.3
2006-II
165,799.0
4,128.6
...
...
47,462.4
217,391.1
136,514.5
1,201.3
3,777.6
141,493.3
...
75,897.7
1,934,243.1
2006-III
143,572.8
4,147.2
...
...
286.3
148,008.5
137,253.7
1,462.5
...
138,716.3
...
9,292.2
1,943,535.3
2006-IV
135,011.7
4,190.9
...
...
50,417.8
189,619.6
138,769.3
1,248.1
...
140,017.4
...
49,602.2
1,993,137.6
2007-I
164,296.5
4,527.0
...
...
464.2
169,289.1
143,018.6
1,470.5
...
144,489.0
...
24,800.0
2,017,937.6
2007-II
176,749.2
4,563.6
...
...
52,544.7
233,857.3
144,274.8
1,174.1
4,051.4
149,500.2
...
84,357.1
2,102,294.7
2007-III
151,065.3
4,586.7
...
...
436.4
156,087.9
145,118.4
1,430.2
...
146,548.6
...
9,539.3
2,111,834.0
2007-IV
141,593.6
4,639.4
...
...
54,992.7
201,225.0
146,836.8
1,259.0
...
148,095.8
...
53,129.2
2,164,963.2
2008-I
173,001.3
5,354.2
...
...
516.5
178,871.4
151,749.7
1,480.6
...
153,230.4
...
25,641.1
2,190,604.3
2008-II
184,838.1
5,401.2
...
...
57,832.4
248,071.6
153,160.2
1,195.1
4,107.5
158,462.8
...
89,608.8
2,280,213.1
2008-III
156,099.8
5,431.3
...
...
360.9
161,891.1
154,109.0
1,448.7
...
155,557.8
...
6,333.3
2,286,546.4
2008-IV
147,020.2
5,499.3
...
...
60,601.0
213,121.3
156,058.5
1,316.3
...
157,374.8
...
55,746.4
2,342,292.9
2009-I
178,254.0
5,517.6
...
...
525.8
184,296.4
164,547.9
1,545.5
...
166,093.3
...
18,203.1
2,360,495.9
2009-II
193,637.8
5,572.2
...
...
63,360.8
262,571.9
166,203.0
1,258.3
4,191.5
171,652.9
...
90,919.0
2,451,415.0
2009-III
166,236.5
5,609.0
...
...
520.7
172,365.5
167,355.2
1,519.7
...
168,874.9
...
3,490.7
2,454,905.7
2009-IV
162,065.0
5,687.2
...
...
70,067.5
237,818.5
169,651.1
1,394.2
...
171,045.4
...
66,773.2
2,521,678.8
2010-I
191,665.1
6,300.3
...
...
823.8
198,791.1
179,801.9
1,634.9
...
181,436.8
...
17,354.3
2,539,033.1
2010-II
210,812.0
6,361.9
...
...
75,469.3
292,643.3
181,567.6
1,340.7
4,346.3
187,254.6
...
105,388.7
2,644,421.8
2010-III
181,014.5
6,405.6
...
...
570.0
187,988.6
182,845.3
1,614.1
...
184,459.4
...
3,529.1
2,647,951.0
2010-IV
170,751.5
6,499.8
...
...
80,914.4
258,166.3
185,465.4
1,459.0
...
186,924.5
...
71,241.8
2,719,192.8
2011-I
206,217.2
7,638.9
...
...
287.0
214,143.1
196,247.0
1,709.0
...
197,956.0
...
16,187.0
2,735,379.8
2011-II
225,417.8
7,715.7
...
...
85,737.5
318,871.0
198,196.3
1,410.3
4,468.1
204,074.7
...
114,796.3
2,850,176.1
2011-III
193,087.5
7,769.1
...
...
604.3
201,461.3
199,575.3
1,693.3
...
201,268.5
...
192.8
2,850,368.9
2011-IV
178,069.1
7,885.8
...
...
88,444.6
274,399.4
202,466.8
1,518.4
...
203,985.1
...
70,414.3
2,920,783.2
2012-I
219,929.6
8,674.2
...
...
269.6
228,873.9
213,068.6
1,776.7
...
214,845.3
...
14,028.6
2,934,811.9
2012-II
236,889.7
8,765.3
...
...
92,208.0
337,862.4
215,224.2
1,474.5
4,939.4
221,638.0
...
116,224.4
3,051,036.3
2012-III
201,210.7
8,830.3
...
...
636.8
210,676.0
216,778.4
1,766.0
...
218,544.3
...
-7,868.4
3,043,167.9
2012-IV
188,227.8
8,969.5
...
...
94,130.4
291,327.9
220,025.1
1,579.0
...
221,604.2
...
69,723.8
3,112,891.7
2013-I
229,887.6
9,709.8
...
...
682.0
240,279.7
229,639.8
1,845.9
...
231,485.6
...
8,794.0
3,121,685.7
2013-II
249,085.4
9,811.0
...
...
97,090.8
355,987.8
231,923.1
1,539.9
5,227.5
238,690.6
...
117,297.3
3,238,983.0
2013-III
210,898.6
9,884.2
...
...
675.0
221,456.2
233,587.4
1,840.2
...
235,427.6
...
-13,971.4
3,225,011.6
2013-IV
198,028.4
10,044.1
...
...
99,908.3
307,980.4
237,161.1
1,642.6
...
238,803.7
...
69,176.7
3,294,188.3
2014-I
241,152.2
10,535.0
...
...
769.5
252,457.4
247,553.5
1,918.5
...
249,472.1
...
2,985.3
3,297,173.6
2014-II
259,991.2
10,642.9
...
...
102,603.7
373,238.5
249,976.5
1,608.4
5,498.5
257,083.4
...
116,155.1
3,413,328.7
2014-III
220,534.7
10,721.7
...
...
761.2
232,016.9
251,761.2
1,917.9
...
253,679.1
...
-21,662.2
3,391,666.6
2014-IV
208,887.5
10,898.3
...
...
104,994.9
324,781.0
255,677.3
1,709.9
...
257,387.2
...
67,393.9
3,459,060.4

1Paid from the general fund of the Treasury. Includes payments for costs of noncontributory wage credits for military service performed after 1956.

2Paid from the general fund of the Treasury. Includes costs of benefits to certain uninsured persons who attained age 72 before 1968.

3Net interest includes net profits or losses on marketable investments. 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.

4Includes payments for vocational rehabilitation services furnished to disabled persons receiving benefits because of their disabilities. Relatively small reductions are made for the amount of reimbursement for unnegotiated benefit checks.

Source: All columns projected by methods described in text and in earlier tables describing projections for the intermediate set of assumptions.

Note: Estimates based on 2005 Trustees Report high cost set of assumptions.


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