2024 OASDI Trustees Report

skip to main content
Table of Contents Previous Next Tables Figures Index

C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2033
Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2023 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 2023 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.
Payroll tax contributionsa
Monthly benefits and lump-sum death paymentsd
Payment for costs of vocational rehabilitation services for disabled beneficiaries
Financial interchange with the Railroad Retirement “Social Security Equivalent
Benefit Account”
Miscellaneous reimbursements from the General Fund e
Undisbursed balancesf

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.
Payroll tax contributionsa
Interest adjustmentsc
Monthly benefitsd
Financial interchange with the Railroad Retirement “Social Security Equivalent
Benefit Account”
Miscellaneous reimbursements from the General Fund e
Undisbursed balancesf

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.
Payroll tax contributionsa
Interest adjustmentsc
Monthly benefits and lump-sum death paymentsd
Financial interchange with the Railroad Retirement “Social Security Equivalent
Benefit Account”
Miscellaneous reimbursements from the General Funde
Undisbursed balancesf

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 2019 through 2033.
Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2019-2033a
Trust
fund
ratio at start of year b
Net pay-
roll tax contri-
butionsc
GF
reim-
burse-
mentsd

a
The OASI 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 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.
Trust
fund
ratio at start of year a
Net pay-
roll tax contri-
butionsb
GF
reim-
burse-
mentsc

a
Represents asset reserves at the beginning of a year