2023 OASDI Trustees Report

C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2032

Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2022 operations of the OASI, DI, and the combined OASI and DI Trust Funds, respectively. The fiscal year for the U.S. Government is the 12-month period ending September 30. Fiscal year 2022 is the most recent fiscal year for which complete information is available. The descriptions of the values in these tables are similar to the corresponding descriptions and values in the calendar year operations tables in section III.A. Please see that section for a description of the various items of income and cost.

Table VI.C1.—Operations of the OASI Trust Fund, Fiscal Year 2022

[In millions]

Total asset reserves, September 30, 2021					$2,755,799
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$933,445
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-4,403
			Net payroll tax contributionsa		929,042
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		b
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		b
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		259
		All other, not subject to withholding		46,711
			Total income from taxation of benefits		46,970
	Investment income and interest adjustments:
		Interest on investments		65,081
		Interest adjustments c		b
			Total investment income and interest adjustments		65,081
	Gifts				b
Total income					1,041,093
Cost:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		1,063,929
		Reimbursement from the General Fund for unnegotiated checks		-52
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		19
			Net benefit paymentsd		1,063,896
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				5,316
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	3,452
			Department of the Treasury	603
		Offsetting miscellaneous receipts		-1
		Miscellaneous reimbursements from the General Fund e		-5
			Net administrative expenses		4,050
Total cost					1,073,262
Net increase in asset reserves					-32,169
	Total invested assets			2,723,601
	Undisbursed balancesf			29
Total asset reserves, September 30, 2022					2,723,629

---

a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the General Fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust fund.

d

Includes net reductions for the recovery of overpayments.

e

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

f

A positive balance represents a situation where the invested securities of the OASI Trust Fund that were redeemed to make cash payments exceeded actual program cash payments. In this situation, this excess amount will be used to partially offset future redemption of additional invested securities.

Note: Components may not sum to totals because of rounding.

Table VI.C2.—Operations of the DI Trust Fund, Fiscal Year 2022 

[In millions]

Total asset reserves, September 30, 2021					$98,063
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$158,563
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-746
			Net payroll tax contributionsa		157,816
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		b
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		b
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		4
		All other, not subject to withholdinga		1,529
			Total income from taxation of benefitsa		1,533
	Investment income and interest adjustments:
		Interest on investments		2,657
		Interest adjustmentsc		2
			Total investment income and interest adjustments		2,658
	Gifts				b
Total income					162,007
Cost:
	Benefit payments:
		Monthly benefitsd		142,386
		Reimbursement from the General Fund for unnegotiated checks		-28
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		101
			Net benefit paymentsd		142,459
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				156
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,655
			Department of the Treasury	105
		Demonstration projects		7
		Miscellaneous reimbursements from the General Fund e		-2
			Net administrative expenses		2,764
Total cost					145,379
Net increase in asset reserves					16,628
	Total invested assets			114,679
	Undisbursed balancesf			12
Total asset reserves, September 30, 2022					114,691

---

a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the General Fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust fund.

d

Includes net reductions for the recovery of overpayments.

e

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

f

A positive balance represents a situation where the invested securities of the DI Trust Fund that were redeemed to make cash payments exceeded actual program cash payments. In this situation, this excess amount will be used to partially offset future redemption of additional invested securities.

Note: Components may not sum to totals because of rounding.

Table VI.C3.—Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2022 

[In millions]

Total asset reserves, September 30, 2021					$2,853,862
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$1,092,007
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-5,149
			Net payroll tax contributionsa		1,086,858
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		b
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		b
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		262
		All other, not subject to withholdinga		48,240
			Total income from taxation of benefitsa		48,502
	Investment income and interest adjustments:
		Interest on investments		67,738
		Interest adjustmentsc		2
			Total investment income and interest adjustments		67,740
	Gifts				b
Total income					1,203,100
Cost:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		1,206,315
		Reimbursement from the General Fund for unnegotiated checks		-80
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		120
			Net benefit paymentsd		1,206,355
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				5,471
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	6,108
			Department of the Treasury	708
		Offsetting miscellaneous receipts		-1
		Demonstration projects		7
		Miscellaneous reimbursements from the General Funde		-7
			Net administrative expenses		6,814
Total cost					1,218,641
Net increase in asset reserves					-15,541
	Total invested assets			2,838,279
	Undisbursed balancesf			41
Total asset reserves, September 30, 2022					2,838,320

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a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust funds and the General Fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust funds.

d

Includes net reductions for the recovery of overpayments.

e

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

f

A positive balance represents a situation where the invested securities of the combined OASI and DI Trust Funds that were redeemed to make cash payments exceeded actual program cash payments. In this situation, this excess amount will be used to partially offset future redemption of additional invested securities.

Note: Components may not sum to totals because of rounding.

Tables VI.C4, VI.C5, and VI.C6 show estimates of the operations and status of the OASI, DI, and the hypothetical combined OASI and DI Trust Funds, respectively, during fiscal years 2018 through 2032.

Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2018-2032^a

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves		Trust fund ratio at start of year b
		Total	Net pay- roll tax contri- butionsc	GF reim- burse- mentsd	Taxa- tion of bene-fitsc e	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year
Historical data:
	2018	$822.4	$706.1	f	$34.7	$81.6		$841.5	$833.0	$3.7	$4.8		-$19.0	$2,801.1	335
	2019	900.1	785.6	f	34.9	79.6		896.8	888.1	3.9	4.9		3.2	2,804.3	312
	2020	955.6	841.7	f	37.9	76.0		948.7	940.2	3.7	4.8		6.9	2,811.2	296
	2021	936.0	831.1	f	34.3	70.5		991.4	982.7	3.9	4.8		-55.4	2,755.8	284
	2022	1,041.1	929.0	f	47.0	65.1		1,073.3	1,063.9	4.0	5.3		-32.2	2,723.6	257
Intermediate:
	2023	1,149.1	1,035.3	$0.2	50.4	63.2		1,200.4	1,190.9	4.1	5.4		-51.3	2,672.3	227
	2024	1,153.0	1,037.1	f	55.6	60.3		1,301.7	1,291.4	4.3	6.1		-148.7	2,523.6	205
	2025	1,211.1	1,093.7	f	59.2	58.2		1,383.1	1,372.6	4.3	6.1		-171.9	2,351.7	182
	2026	1,272.9	1,147.6	f	70.9	54.4		1,465.2	1,454.4	4.5	6.3		-192.3	2,159.4	161
	2027	1,327.3	1,195.5	.2	79.1	52.5		1,549.6	1,538.5	4.6	6.4		-222.3	1,937.1	139
	2028	1,390.0	1,255.5	f	85.4	49.2		1,638.9	1,627.6	4.8	6.5		-248.9	1,688.3	118
	2029	1,440.3	1,304.4	f	92.1	43.9		1,731.2	1,719.7	5.0	6.6		-290.9	1,397.4	98
	2030	1,495.3	1,358.4	f	99.6	37.3		1,825.7	1,813.9	5.1	6.7		-330.4	1,067.0	77
	2031	1,549.2	1,412.6	f	107.6	29.0		1,921.2	1,909.2	5.3	6.8		-372.0	695.0	56
	2032	1,599.3	1,464.8	f	116.2	18.3		2,017.6	2,005.2	5.4	6.9		-418.2	276.7	34
Low-cost:
	2023	1,152.1	1,038.1	.2	50.4	63.4		1,199.9	1,190.4	4.1	5.4		-47.8	2,675.8	227
	2024	1,191.2	1,072.0	f	55.4	63.8		1,298.0	1,287.7	4.3	6.0		-106.8	2,569.0	206
	2025	1,276.5	1,153.7	f	59.2	63.6		1,382.8	1,372.4	4.3	6.1		-106.3	2,462.7	186
	2026	1,370.2	1,234.0	f	71.2	65.0		1,471.3	1,460.5	4.6	6.2		-101.1	2,361.6	167
	2027	1,454.3	1,305.5	.2	79.8	68.8		1,562.8	1,551.7	4.8	6.3		-108.6	2,253.1	151
	2028	1,551.9	1,393.6	f	86.5	71.9		1,660.2	1,648.7	5.1	6.4		-108.3	2,144.8	136
	2029	1,639.0	1,471.7	f	93.7	73.6		1,761.8	1,749.9	5.3	6.6		-122.8	2,022.0	122
	2030	1,733.8	1,556.9	f	101.8	75.1		1,866.8	1,854.5	5.5	6.7		-133.0	1,889.0	108
	2031	1,831.6	1,644.7	f	110.6	76.4		1,974.5	1,961.9	5.8	6.8		-142.9	1,746.1	96
	2032	1,928.3	1,732.0	f	120.1	76.2		2,084.8	2,071.8	6.0	7.0		-156.5	1,589.6	84
High-cost:
	2023	1,140.3	1,027.0	.2	50.5	62.6		1,200.9	1,191.3	4.1	5.4		-60.6	2,663.1	227
	2024	1,107.0	990.9	f	55.9	60.2		1,310.3	1,299.9	4.3	6.1		-203.3	2,459.8	203
	2025	1,159.6	1,046.1	f	59.9	53.6		1,398.4	1,387.8	4.3	6.3		-238.7	2,221.1	176
	2026	1,207.3	1,088.0	f	71.5	47.7		1,477.7	1,466.8	4.4	6.5		-270.5	1,950.6	150
	2027	1,246.5	1,124.0	.2	79.4	42.9		1,556.2	1,545.1	4.6	6.5		-309.6	1,641.0	125
	2028	1,286.9	1,165.5	f	85.4	36.1		1,639.2	1,627.9	4.7	6.6		-352.2	1,288.7	100
	2029	1,312.1	1,193.0	f	91.7	27.4		1,724.2	1,712.8	4.7	6.7		-412.1	876.6	75
	2030	1,341.0	1,223.7	f	98.8	18.6		1,810.4	1,798.8	4.8	6.8		-469.4	407.3	48
	2031	g	1,252.9	f	106.2	g		1,896.6	1,884.9	4.9	6.8		g	g	21
	2032	g	1,278.7	f	114.2	g		1,982.8	1,970.9	5.0	6.9		g	g	g

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a

The OASI Trust Fund reserves become depleted in fiscal year 2031 under the high-cost assumptions. For any period during which reserves would be depleted, scheduled benefits could not be paid in full on a timely basis, income from taxing benefits would be less than would apply to scheduled benefits, and interest on trust fund reserves would be negligible.

b

Represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

c

Includes adjustments for prior years.

d

Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (and (2) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96. Also includes transfers of a portion of proceeds from repayments of loans authorized under Public Law 116-136.

e

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in law.

f

Between -$50 million and $50 million.

g

When the fund reserves are depleted, values under current law would reflect permissible expenditures only, which would be less than the full cost of paying scheduled benefits shown in this table.

Note: Components may not sum to totals because of rounding.

Table VI.C5.—Operations of the DI Trust Fund, Fiscal Years 2018-2032

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves			Trust fund ratio at start of year a
		Total	Net pay- roll tax contri- butionsb	GF reim- burse- mentsc	Taxa- tion of bene-fitsb d	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year
Historical data:
	2018	$170.3	$167.0	e	$1.0	$2.2		$146.6	$143.6	$2.8	$0.2		$23.7	$93.1		47
	2019	151.0	146.8	e	1.2	2.9		147.7	144.9	2.8	.1		3.3	96.4		63
	2020	147.4	142.9	e	1.7	2.8		146.7	144.1	2.5	.1		.7	97.1		66
	2021	144.4	141.2	e	.5	2.7		143.4	140.7	2.5	.1		1.0	98.1		68
	2022	162.0	157.8	e	1.5	2.7		145.4	142.5	2.8	.2		16.6	114.7		67
Intermediate:
	2023	180.1	175.8	e	1.1	3.2		151.0	148.0	2.9	e		29.1	143.8		76
	2024	182.0	176.1	e	1.7	4.2		158.5	155.5	3.0	e		23.5	167.3		91
	2025	192.7	185.7	e	1.8	5.1		168.4	165.3	3.1	e		24.3	191.5		99
	2026	203.1	194.9	e	2.2	6.0		178.5	175.3	3.2	e		24.6	216.1		107
	2027	212.5	203.0	e	2.4	7.1		187.1	183.7	3.4	e		25.4	241.5		115
	2028	224.1	213.2	e	2.6	8.3		193.5	189.9	3.6	e		30.6	272.1		125
	2029	234.0	221.5	e	2.7	9.8		199.2	195.5	3.7	e		34.8	306.9		137
	2030	245.2	230.7	e	2.9	11.6		205.2	201.2	3.9	e		40.0	346.9		150
	2031	256.7	239.9	e	3.1	13.7		212.2	208.1	4.1	.1		44.5	391.3		163
	2032	268.1	248.7	e	3.3	16.0		220.3	216.0	4.3	.1		47.8	439.1		178
Low-cost:
	2023	180.6	176.3	e	1.1	3.3		150.1	147.2	2.9	e		30.5	145.2		76
	2024	188.5	182.0	e	1.7	4.8		155.5	152.4	3.0	e		33.0	178.2		93
	2025	204.2	195.9	e	1.8	6.5		163.0	160.0	3.1	e		41.1	219.3		109
	2026	220.5	209.6	e	2.1	8.8		170.9	167.7	3.3	e		49.6	268.9		128
	2027	235.8	221.7	e	2.3	11.8		177.0	173.6	3.5	e		58.7	327.7		152
	2028	254.6	236.6	e	2.4	15.6		180.7	177.0	3.7	e		74.0	401.6		181
	2029	272.5	249.9	e	2.5	20.1		184.1	180.2	3.9	e		88.4	490.1		218
	2030	292.5	264.4	e	2.7	25.5		188.1	184.0	4.1	e		104.4	594.5		261
	2031	313.9	279.3	e	2.8	31.8		193.3	188.9	4.3	e		120.6	715.0		308
	2032	336.4	294.1	e	3.0	39.3		199.8	195.2	4.5	e		136.6	851.7		358
High-cost:
	2023	178.7	174.4	e	1.1	3.2		151.8	148.9	2.9	e		26.8	141.5		76
	2024	174.0	168.3	e	1.7	4.0		162.3	159.3	3.0	e		11.6	153.2		87
	2025	183.8	177.6	e	1.9	4.2		176.0	172.9	3.1	e		7.8	161.0		87
	2026	191.5	184.8	e	2.3	4.4		188.5	185.2	3.2	e		3.0	164.0		85
	2027	198.0	190.9	e	2.6	4.5		199.2	195.8	3.4	e		-1.2	162.8		82
	2028	205.2	197.9	e	2.8	4.5		207.6	204.1	3.5	e		-2.4	160.4		78
	2029	210.0	202.6	e	3.0	4.4		214.7	211.1	3.6	e		-4.8	155.6		75
	2030	215.3	207.8	e	3.2	4.3		222.1	218.3	3.8	.1		-6.8	148.8		70
	2031	220.3	212.7	e	3.4	4.2		230.7	226.7	3.9	.1		-10.4	138.4		64
	2032	224.6	217.1	e	3.6	3.9		240.2	236.1	4.0	.1		-15.6	122.8		58

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a

Represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

b

Includes adjustments for prior years.

c

Includes reimbursements from the General Fund of the Treasury to the DI Trust Fund for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; and (2) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112‑78, and 112-96.

d

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in law.

e

Between -$50 million and $50 million.

Note: Components may not sum to totals because of rounding.

Table VI.C6.—Operations of the Combined OASI and DI Trust Funds,
Fiscal Years 2018-2032^a 

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves		Trust fund ratio at start of year b
		Total	Net pay-roll tax contri- butionsc	GF reim- burse- mentsd	Taxa- tion of bene‑ fitsc e	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year
Historical data:
	2018	$992.7	$873.2	f	$35.7	$83.8		$988.0	$976.7	$6.4	$4.9		$4.7	$2,894.2	292
	2019	1,051.1	932.4	f	36.1	82.5		1,044.5	1,033.0	6.6	4.9		6.5	2,900.7	277
	2020	1,103.0	984.6	f	39.6	78.8		1,095.4	1,084.3	6.2	5.0		7.5	2,908.2	265
	2021	1,080.4	972.3	f	34.8	73.3		1,134.8	1,123.4	6.4	4.9		-54.4	2,853.9	256
	2022	1,203.1	1,086.9	f	48.5	67.7		1,218.6	1,206.4	6.8	5.5		-15.5	2,838.3	234
Intermediate:
	2023	1,329.2	1,211.1	$0.2	51.5	66.4		1,351.4	1,338.9	7.0	5.4		-22.2	2,816.2	210
	2024	1,335.0	1,213.3	f	57.3	64.4		1,460.2	1,446.9	7.3	6.1		-125.3	2,690.9	193
	2025	1,403.8	1,279.5	f	61.1	63.3		1,551.5	1,537.9	7.4	6.2		-147.7	2,543.2	173
	2026	1,476.1	1,342.5	f	73.1	60.4		1,643.8	1,629.7	7.7	6.3		-167.7	2,375.5	155
	2027	1,539.8	1,398.5	.2	81.6	59.6		1,736.7	1,722.3	8.0	6.4		-196.9	2,178.7	137
	2028	1,614.1	1,468.7	f	88.0	57.5		1,832.4	1,817.5	8.4	6.5		-218.3	1,960.4	119
	2029	1,674.4	1,525.9	f	94.8	53.7		1,930.5	1,915.1	8.7	6.6		-256.1	1,704.3	102
	2030	1,740.5	1,589.1	f	102.5	48.9		2,030.9	2,015.1	9.0	6.8		-290.4	1,413.9	84
	2031	1,805.9	1,652.5	f	110.7	42.7		2,133.4	2,117.2	9.4	6.9		-327.6	1,086.3	66
	2032	1,867.4	1,713.6	f	119.6	34.3		2,237.9	2,221.2	9.7	7.0		-370.5	715.8	49
Low-cost:
	2023	1,332.8	1,214.4	.2	51.5	66.7		1,350.1	1,337.6	7.0	5.4		-17.3	2,821.0	210
	2024	1,379.7	1,254.1	f	57.1	68.6		1,453.5	1,440.1	7.3	6.1		-73.8	2,747.2	194
	2025	1,480.7	1,349.6	f	61.0	70.1		1,545.8	1,532.4	7.4	6.1		-65.2	2,682.1	178
	2026	1,590.7	1,443.6	f	73.3	73.8		1,642.3	1,628.2	7.8	6.2		-51.5	2,630.5	163
	2027	1,690.1	1,527.2	.2	82.1	80.6		1,739.9	1,725.3	8.3	6.3		-49.8	2,580.7	151
	2028	1,806.6	1,630.2	f	88.9	87.5		1,840.9	1,825.8	8.7	6.4		-34.3	2,546.4	140
	2029	1,911.5	1,721.6	f	96.2	93.7		1,945.8	1,930.1	9.2	6.6		-34.3	2,512.0	131
	2030	2,026.3	1,821.3	f	104.5	100.6		2,054.9	2,038.5	9.6	6.7		-28.6	2,483.5	122
	2031	2,145.5	1,924.0	f	113.4	108.1		2,167.8	2,150.8	10.1	6.8		-22.3	2,461.2	115
	2032	2,264.7	2,026.1	f	123.1	115.5		2,284.6	2,267.0	10.6	7.0		-19.9	2,441.3	108
High-cost:
	2023	1,319.0	1,201.4	.2	51.5	65.8		1,352.7	1,340.2	7.0	5.4		-33.7	2,804.6	210
	2024	1,281.0	1,159.2	f	57.7	64.2		1,472.6	1,459.2	7.3	6.1		-191.6	2,613.0	190
	2025	1,343.4	1,223.7	f	61.8	57.9		1,574.4	1,560.7	7.4	6.3		-230.9	2,382.0	166
	2026	1,398.8	1,272.8	f	73.8	52.1		1,666.2	1,652.1	7.7	6.5		-267.4	2,114.6	143
	2027	1,444.5	1,314.8	.2	82.1	47.4		1,755.3	1,740.9	7.9	6.5		-310.8	1,803.8	120
	2028	1,492.1	1,363.4	f	88.2	40.6		1,846.8	1,832.0	8.2	6.6		-354.7	1,449.1	98
	2029	1,522.1	1,395.6	f	94.7	31.8		1,939.0	1,923.9	8.4	6.7		-416.9	1,032.2	75
	2030	1,556.3	1,431.5	f	101.9	22.9		2,032.5	2,017.1	8.6	6.8		-476.2	556.0	51
	2031	1,585.9	1,465.6	f	109.6	10.7		2,127.3	2,111.6	8.8	6.9		-541.4	14.6	26
	2032	g	1,495.8	f	117.9	g		2,223.0	2,207.0	9.0	7.0		g	g	1

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a

The OASDI Trust Fund reserves become depleted in fiscal year 2032 under the high-cost assumptions. For any period during which reserves would be depleted, scheduled benefits could not be paid in full on a timely basis, income from taxing benefits would be less than would apply to scheduled benefits, and interest on trust fund reserves would be negligible.

b

Represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

c

Includes adjustments for prior years.

d

Includes reimbursements from the General Fund of the Treasury to the OASI and DI Trust Funds for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; and (2) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96. Also includes transfers of a portion of proceeds from repayments of loans authorized under Public Law 116-136.

e

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in law.

f

Between -$50 million and $50 million.

g

When the fund reserves are depleted, values under current law would reflect permissible expenditures only, which would be less than the full cost of paying scheduled benefits shown in this table.

Note: Components may not sum to totals because of rounding.