2005 OASDI Trustees Report

Contents Previous Next List of Tables List of Figures Index

V. ASSUMPTIONS AND METHODS UNDERLYING
ACTUARIAL ESTIMATES

The future income and cost of the OASDI program will depend on many demographic, economic, and program-specific factors. Trust fund income will depend on how these factors affect the size and composition of the working population and the level and distribution of earnings. Similarly, program cost will depend on how these factors affect the size and composition of the beneficiary population and the general level of benefits.

Basic assumptions are developed for several of these factors based on analysis of historical trends and conditions, and on expected future conditions. These include fertility, mortality, immigration, marriage, divorce, productivity, inflation, average earnings, unemployment, retirement, and disability incidence and termination. Other factors are projected using methods that reflect historical and expected future relationships to the basic assumptions. These include total population, life expectancy, labor force, gross domestic product, interest rates, and a myriad of program-specific factors. It should be noted that all factors included in any consistent set of assumptions are interrelated directly or indirectly. It is also important to note that these interrelationships can and do change over time.

The assumptions and methods used in this report are reexamined each year in light of recent experience and new information about future conditions, and are revised if warranted.

Because projections of these factors and their interrelationships are inherently uncertain, a range of estimates is shown in this report on the basis of three sets of assumptions, designated as intermediate (alternative II), low cost (alternative I), and high cost (alternative III). The intermediate set represents the Board's best estimate of the future course of the population and the economy. In terms of the net effect on the status of the OASDI program, the low cost is the most optimistic, and the high cost is the most pessimistic.

Although these three sets of demographic and economic assumptions have been developed using the best available information, the resulting estimates should be interpreted with care. The estimates are not intended to be specific predictions of the future financial status of the OASDI program, but rather, they are intended to be indicators of the expected trend and a reasonable range of future income and cost, under a variety of plausible demographic and economic conditions.

The values for each of the demographic, economic, and program-specific factors are assumed to move from recently experienced levels or trends, toward long-range ultimate values generally over the next 5 to 25 years. Ultimate values or trends reached by the end of the 75-year long-range period are generally maintained at these levels or trends for extrapolations beyond 75 years. One exception is for real wage growth, as described in section IV.B.5.

The ultimate values assumed after the first 5 to 25 years (and through the end of the 75-year long-range period) for both the demographic and the economic factors are intended to represent average annual experience or growth rates. Actual future values will exhibit fluctuations or cyclical patterns, as in the past.

The following sections discuss in abbreviated form the various assumptions and methods required to make the estimates of trust fund financial status which are the heart of this report.1 There are, of course, many interrelationships among these factors that make a sequential presentation somewhat misleading. Nevertheless, the following sections roughly follow the order used in building the trust fund estimates presented in chapter IV.

A. DEMOGRAPHIC ASSUMPTIONS AND METHODS

The principal demographic assumptions relating to fertility, mortality, and net immigration for the three alternatives are shown in table V.A1. The rationales for selecting these assumptions are discussed in the following three sections.

1. Fertility Assumptions

Fertility (birth rate) assumptions are developed by single year of age, from 14 to 49. They are applied to the total number of women in the population at each age, for all marital statuses.

Historically, fertility rates in the United States have fluctuated widely. The total fertility rate2 decreased from 3.3 children per woman after World War I to 2.1 during the Great Depression, rose to 3.7 in 1957, and then fell to 1.7 in 1976. After 1976, the total fertility rate began to rise again, reaching a level of 2.07 for 1990. Since then, the total fertility rate has remained fairly stable, around 2.0 children per woman.

These variations in fertility rates have resulted from changes in many factors, including social attitudes, economic conditions, and the use of birth-control methods. Future fertility rates may be expected to remain close to recent levels. The recent historical and projected trends in certain population characteristics are consistent with a continued relatively low fertility rate. These trends include the rising percentages of women who have never married, of women who are divorced, and of young women who are in the labor force. Based on consideration of these factors, ultimate total fertility rates of 2.2, 1.95, and 1.7 children per woman were selected for the low cost, intermediate, and high cost assumptions, respectively. For each alternative, the total fertility rate is assumed to gradually trend from the estimated level of 2.02 for 2002, reaching the selected ultimate level for 2029 and later.

The ultimate total fertility rates are unchanged from those used in last year's report. However, total fertility rates for about the first 10 years of the projection period are higher than in last year's report due to incorporating additional birth data for 2002 and revised population data for 2000-02. These recent birth and population data result in slightly higher starting levels that remain at higher levels until around 2015.

2. Mortality Assumptions

Mortality (death rate) assumptions are developed by single year of age, sex, and cause of death.

Death rates in the United States since 1900 have declined substantially, but at varying rates. Historical rates (for years 1900-2001) used in preparing this report were calculated for ages below 65 (and for all ages prior to 1968) using data from the National Center for Health Statistics (NCHS).3 For ages 65 and over, Medicare final data were used for years 1968 through 2001. Also used are death rates by cause of death produced by the NCHS for years 1979-2001.

The total age-sex-adjusted death rate4 declined at an average rate5 of 1.06 percent per year between 1900 and 2001. Between 1979 and 2001, the period for which death rates are analyzed by cause, the total age-sex-adjusted death rate (for all causes combined) declined at an average rate of 0.72 percent per year.

Historical death rates have declined more slowly for older ages than for the rest of the population. The age-sex-adjusted death rate for ages 65 and over declined at an average rate of 0.72 percent per year between 1900 and 2001. Between 1979 and 2001 the age-sex-adjusted death rate for these ages declined at an average annual rate of 0.47 percent.

Reductions in death rates have resulted from many factors, including increased medical knowledge and availability of health-care services, and improvements in sanitation and nutrition. Based on consideration of the expected rate of future progress in these and other areas, three alternative sets of ultimate annual percentage reductions in central death rates by age, sex, and cause of death were selected for 2029 and later. The intermediate set, which is used for alternative II, is considered to be the most likely to occur. The average annual percentage reductions used for alternative I are generally smaller than those for alternative II, while those used for alternative III are generally greater. These three sets of ultimate annual percentage reductions are unchanged from those used in last year's report.

After 2001, the reductions in central death rates for alternative II are assumed to change rapidly from the average annual reductions by age, sex, and cause of death observed between 1981 and 2001, to the ultimate annual percentage reductions by age, sex, and cause of death assumed for 2029 and later. The reductions in death rates under alternatives I and III are also assumed to change rapidly to their ultimate levels, but start from levels which are, respectively, 50 or 150 percent of the average annual reductions observed between 1981 and 2001.

Projections of age-sex-adjusted death rates are presented in table V.A1 for the total (all ages), for under age 65, and for ages 65 and over. Under the intermediate assumptions, these projected age-sex-adjusted death rates are slightly lower than the death rates in last year's report. New data for 2001 and a revision in the method of calculating death rates for ages 65-69 result in age-sex-adjusted death rates throughout the projection period that are slightly lower than those in last year's report.

After adjustment for changes in the age-sex distribution of the population, the resulting total death rates are projected to decline at ultimate average annual rates of about 0.33 percent, 0.71 percent, and 1.23 percent between 2029 and 2079 for alternatives I, II, and III, respectively. In keeping with the patterns observed in the historical data, future rates of decline are assumed to be greater for younger ages than for older ages, but to a lesser degree than in the past. Accordingly, age-sex-adjusted death rates for ages 65 and over are projected to decline at average annual rates of about 0.29 percent, 0.67 percent, and 1.17 percent between 2029 and 2079 for alternatives I, II, and III, respectively.

There is a wide range of opinion among experts on the likely rate of future decline in death rates. For example, the 2003 Technical Panel on Assumptions and Methods appointed by the Social Security Advisory Board believed that ultimate rates of decline in mortality will be higher than the rates of decline assumed for the intermediate projections in this report. Others believe that biological and social factors may slow future rates of decline in mortality. Evolving mortality trends and developments in health care and life style will be closely monitored to determine what further modifications to the assumed ultimate rates of decline in mortality may be warranted for future reports.

3. Immigration Assumptions

Legal immigration6 increased after World War II to around 300,000 persons per year and remained around that level until shortly after 1960. With the Immigration Act of 1965 and other related changes, annual legal immigration increased to about 400,000 and remained fairly stable until 1977. Between 1977 and 1990, legal immigration once again increased, averaging about 580,0007 per year. The Immigration Act of 1990, which took effect in fiscal year 1992, restructured the immigration categories and increased significantly the number of immigrants who may legally enter the United States. Legal immigration averaged about 825,000 7 persons per year during the period 1992 through 2003. The number of legal immigrants in 2003 is estimated to be 706,000 persons.

For 2003, net legal immigration (after considering emigration) is estimated to be about 530,000 persons. Net other immigration is estimated to be 400,000 persons. For 2004, net legal immigration is estimated to be 600,000 persons for the intermediate, low cost, and high cost assumptions. Net other immigration for 2004 is estimated to be 400,000 persons for all three assumptions.

The ultimate annual net immigration assumptions are unchanged from those in last year's report. After 2004, the annual number of net legal immigrants is projected to reach the ultimate level around 2007. The ultimate level of annual net other immigrants is projected to be reached in 2025 under the intermediate and low cost assumptions and in 2015 under the high cost assumptions.

The total level of net immigration (legal and other, combined) under the intermediate projection is assumed to be 1,075,000 persons in 2005, and 900,000 persons8 in 2025 and for each year afterward. For the low cost assumptions, net immigration is assumed to increase slightly from a level of 1,270,000 persons in 2005 to an ultimate level of 1,300,000 persons9 for each year 2025 and later. Under the high cost assumptions, net immigration is assumed to be 880,000 persons in 2005, and 672,500 persons10 for each year after 2015.

There is a very wide range of opinion about the future course of immigration for the United States. Some, like the 2003 Technical Panel mentioned in the previous section, believe that immigration will increase substantially in the future. Others believe that potential immigrants may be attracted to other countries or that the U.S. borders could be tightened in the future.

Table V.A1.—Principal Demographic Assumptions, Calendar Years 1940-2080 
Calendar year
Total
fertility
rate1
 
Age-sex-adjusted death rate 2
per 100,000, by age
 
Net immigration
 
Total
Under 65
65 and over
Legal 3
Other 4
Historical data:
 
1940
2.23
 
1,779.1
673.0
9,569.0
 
 
 
 
1945
2.42
 
1,586.6
601.8
8,522.4
 
 
 
 
1950
3.03
 
1,435.6
499.4
8,028.3
 
170,594
 
 
1955
3.50
 
1,334.2
442.8
7,612.2
 
209,779
 
 
1960
3.61
 
1,330.9
436.9
7,626.7
 
201,276
 
 
1965
2.88
 
1,304.6
430.0
7,464.0
 
232,400
 
 
1970
2.43
 
1,224.3
422.6
6,870.7
 
278,928
 
 
1975
1.77
 
1,099.0
369.5
6,236.4
 
294,303
 
 
1980
1.82
 
1,035.9
331.9
5,993.6
 
410,348
 
 
1985
1.84
 
984.2
303.6
5,777.6
 
433,449
 
 
1990
2.07
 
931.2
289.4
5,451.1
 
501,065
 
 
 
 
 
 
 
 
 
 
 
 
1991
2.06
 
918.8
286.2
5,373.5
 
548,000
 
 
1992
2.04
 
906.2
280.2
5,315.3
 
620,986
 
 
1993
2.02
 
928.0
283.1
5,470.0
 
644,696
 
 
1994
2.00
 
916.2
280.5
5,392.7
 
583,390
 
 
1995
1.98
 
913.9
277.3
5,397.5
 
573,719
 
 
1996
1.98
 
900.4
266.1
5,367.2
 
662,284
 
 
1997
1.97
 
885.1
253.6
5,332.5
 
571,800
 
 
1998
2.00
 
878.3
246.9
5,325.2
 
489,360
 
 
1999
2.01
 
884.3
245.0
5,386.6
 
523,037
 
 
2000
2.06
 
875.6
243.3
5,328.3
 
677,579
550,000
 
2001
2.03
 
867.1
243.2
5,260.7
 
798,126
550,000
 
20025
2.02
 
866.2
236.2
5,302.9
 
730,689
550,000
 
20035
2.03
 
861.9
233.3
5,288.7
 
529,370
400,000
 
20045
2.02
 
857.9
230.5
5,276.3
 
600,000
400,000
Intermediate:
 
2005
2.02
 
854.2
227.8
5,265.5
 
675,000
400,000
 
2010
2.01
 
828.2
215.9
5,140.0
 
600,000
400,000
 
2015
1.99
 
796.7
205.5
4,960.1
 
600,000
350,000
 
2020
1.98
 
764.7
195.9
4,770.4
 
600,000
350,000
 
2025
1.96
 
734.0
187.0
4,586.1
 
600,000
300,000
 
2030
1.95
 
705.0
178.7
4,411.4
 
600,000
300,000
 
2035
1.95
 
677.7
170.9
4,247.1
 
600,000
300,000
 
2040
1.95
 
652.1
163.5
4,093.3
 
600,000
300,000
 
2045
1.95
 
628.2
156.6
3,949.2
 
600,000
300,000
 
2050
1.95
 
605.7
150.1
3,813.9
 
600,000
300,000
 
2055
1.95
 
584.5
144.0
3,686.8
 
600,000
300,000
 
2060
1.95
 
564.6
138.3
3,567.1
 
600,000
300,000
 
2065
1.95
 
545.8
132.8
3,454.4
 
600,000
300,000
 
2070
1.95
 
528.1
127.7
3,348.0
 
600,000
300,000
 
2075
1.95
 
511.3
122.8
3,247.5
 
600,000
300,000
 
2080
1.95
 
495.5
118.2
3,152.5
 
600,000
300,000
Low Cost:
 
2005
2.05
 
859.9
229.5
5,299.3
 
720,000
550,000
 
2010
2.08
 
858.5
224.1
5,325.6
 
850,000
550,000
 
2015
2.11
 
847.2
218.4
5,275.8
 
850,000
500,000
 
2020
2.14
 
832.9
212.6
5,201.2
 
850,000
500,000
 
2025
2.17
 
817.9
207.0
5,120.3
 
850,000
450,000
 
2030
2.20
 
803.1
201.6
5,038.9
 
850,000
450,000
 
2035
2.20
 
788.7
196.5
4,959.4
 
850,000
450,000
 
2040
2.20
 
774.8
191.5
4,882.8
 
850,000
450,000
 
2045
2.20
 
761.5
186.8
4,808.9
 
850,000
450,000
 
2050
2.20
 
748.7
182.3
4,737.6
 
850,000
450,000
 
2055
2.20
 
736.3
177.9
4,668.9
 
850,000
450,000
 
2060
2.20
 
724.4
173.7
4,602.5
 
850,000
450,000
 
2065
2.20
 
712.9
169.7
4,538.4
 
850,000
450,000
 
2070
2.20
 
701.8
165.9
4,476.6
 
850,000
450,000
 
2075
2.20
 
691.2
162.1
4,416.8
 
850,000
450,000
 
2080
2.20
 
680.9
158.6
4,359.0
 
850,000
450,000
High Cost:
 
2005
1.99
 
848.5
226.1
5,231.7
 
630,000
250,000
 
2010
1.93
 
796.9
206.7
4,953.4
 
472,500
250,000
 
2015
1.87
 
743.5
190.0
4,641.3
 
472,500
200,000
 
2020
1.81
 
692.5
175.1
4,336.7
 
472,500
200,000
 
2025
1.75
 
645.3
161.5
4,052.4
 
472,500
200,000
 
2030
1.70
 
601.9
149.2
3,790.7
 
472,500
200,000
 
2035
1.70
 
562.3
137.9
3,550.9
 
472,500
200,000
 
2040
1.70
 
526.0
127.6
3,331.6
 
472,500
200,000
 
2045
1.70
 
492.8
118.2
3,130.8
 
472,500
200,000
 
2050
1.70
 
462.4
109.7
2,946.6
 
472,500
200,000
 
2055
1.70
 
434.5
101.8
2,777.4
 
472,500
200,000
 
2060
1.70
 
408.8
94.6
2,621.8
 
472,500
200,000
 
2065
1.70
 
385.2
87.9
2,478.5
 
472,500
200,000
 
2070
1.70
 
363.4
81.8
2,346.3
 
472,500
200,000
 
2075
1.70
 
343.3
76.2
2,224.2
 
472,500
200,000
 
2080
1.70
 
324.7
71.0
2,111.2
 
472,500
200,000

1The total fertility rate for any year is the average number of children who would be born to a woman in her lifetime if she were to experience the birth rates by age observed in, or assumed for, the selected year, and if she were to survive the entire childbearing period. The ultimate total fertility rate is assumed to be reached in 2029.

2The age-sex-adjusted death rate is the crude rate that would occur in the enumerated total population as of April 1, 2000, if that population were to experience the death rates by age and sex observed in, or assumed for, the selected year.

3Historical estimates of net legal immigration assume a 25 percent reduction in legal immigration due to legal emigration. Estimates do not include persons legalized under the Immigration Reform and Control Act of 1986.

4Net other annual immigration is estimated to have averaged 375,000 persons over the period 1980-89 and 550,000 over the period 1990-99.

5Preliminary or estimated.

4. Total Population Estimates

Combining the above assumptions for future fertility, mortality, and net immigration with assumptions on marriage and divorce based on data from NCHS, projections were made of the population in the Social Security area by age, sex, and marital status as of January 1 of each year 2004 through 2080. The starting Social Security area population for January 1, 2003, uses as a basis the Census Bureau's estimate of the residents of the 50 States and D.C., and U.S. Armed Forces overseas. The base estimate is adjusted for net census undercount and increased for other U.S. citizens living abroad (including residents of U.S. territories) and for non-citizens living abroad who are insured for Social Security benefits. This starting population was then projected using assumed rates of birth, death, marriage and divorce, and assumed levels of net immigration.

Table V.A2 shows the projected population as of July 1 by broad age group, for the three alternatives. Also shown are tabulated aged and total dependency ratios (see table footnotes for definitions).

Table V.A2.—Social Security Area Population as of July 1 and Dependency Ratios,
Calendar Years 1950-2080  
Calendar year
Population (in thousands)
 
Dependency ratio
Under 20
20-64
65 and
over
Total
Aged 1
Total 2
Historical data:
 
1950
54,466
92,841
12,811
160,118
 
0.138
0.725
 
1960
73,076
99,818
17,278
190,172
 
.173
.905
 
1965
80,132
104,795
19,091
204,018
 
.182
.947
 
1970
80,684
113,158
20,923
214,765
 
.185
.898
 
1975
78,437
122,857
23,305
224,599
 
.190
.828
 
1980
74,568
134,428
26,237
235,233
 
.195
.750
 
1985
73,211
144,957
29,167
247,335
 
.201
.706
 
1990
75,060
153,368
32,029
260,458
 
.209
.698
 
1995
79,621
160,844
34,322
274,786
 
.213
.708
 
2000
82,557
170,274
35,423
288,255
 
.208
.693
Intermediate:
 
2005
83,859
181,017
36,798
301,673
 
.203
.667
 
2010
84,579
189,544
39,788
313,912
 
.210
.656
 
2015
85,101
195,071
45,912
326,084
 
.235
.672
 
2020
86,412
197,819
53,542
337,774
 
.271
.707
 
2025
87,319
199,091
62,318
348,728
 
.313
.752
 
2030
88,477
199,758
69,897
358,133
 
.350
.793
 
2035
89,203
202,410
74,464
366,077
 
.368
.809
 
2040
89,718
206,118
76,880
372,715
 
.373
.808
 
2045
90,236
209,519
78,680
378,435
 
.376
.806
 
2050
91,018
211,891
80,791
383,701
 
.381
.811
 
2055
91,909
213,749
83,244
388,902
 
.389
.819
 
2060
92,749
215,201
86,285
394,235
 
.401
.832
 
2065
93,477
217,322
88,881
399,680
 
.409
.839
 
2070
94,133
219,132
91,792
405,056
 
.419
.848
 
2075
94,809
221,426
94,006
410,242
 
.425
.853
 
2080
95,554
223,359
96,295
415,208
 
.431
.859
Low Cost:
 
2005
83,978
181,074
36,794
301,846
 
.203
.667
 
2010
85,768
190,709
39,665
316,143
 
.208
.658
 
2015
88,018
197,621
45,518
331,157
 
.230
.676
 
2020
91,664
201,823
52,736
346,223
 
.261
.715
 
2025
95,449
204,702
60,932
361,083
 
.298
.764
 
2030
99,723
207,470
67,770
374,962
 
.327
.807
 
2035
103,440
212,830
71,513
387,783
 
.336
.822
 
2040
106,815
219,809
73,161
399,785
 
.333
.819
 
2045
110,198
226,982
74,409
411,589
 
.328
.813
 
2050
113,856
233,651
76,258
423,765
 
.326
.814
 
2055
117,819
240,187
78,637
436,643
 
.327
.818
 
2060
121,883
246,772
81,612
450,268
 
.331
.825
 
2065
125,837
254,599
84,046
464,482
 
.330
.824
 
2070
129,675
262,704
86,712
479,091
 
.330
.824
 
2075
133,551
271,510
88,984
494,045
 
.328
.820
 
2080
137,588
280,006
91,798
509,391
 
.328
.819
High Cost:
 
2005
83,739
180,959
36,802
301,500
 
.203
.666
 
2010
83,496
188,634
39,934
312,064
 
.212
.654
 
2015
82,501
193,255
46,396
322,152
 
.240
.667
 
2020
81,745
195,063
54,560
331,368
 
.280
.699
 
2025
80,121
195,271
64,098
339,490
 
.328
.739
 
2030
78,688
194,532
72,676
345,896
 
.374
.778
 
2035
77,020
195,227
78,389
350,636
 
.402
.796
 
2040
75,366
196,465
81,966
353,797
 
.417
.801
 
2045
73,842
196,930
84,779
355,552
 
.431
.805
 
2050
72,702
195,904
87,646
356,251
 
.447
.819
 
2055
71,592
194,086
90,645
356,322
 
.467
.836
 
2060
70,371
191,532
94,187
356,090
 
.492
.859
 
2065
69,112
189,232
97,338
355,682
 
.514
.880
 
2070
67,905
186,190
100,889
354,984
 
.542
.907
 
2075
66,800
183,614
103,430
353,844
 
.563
.927
 
2080
65,787
180,812
105,571
352,170
 
.584
.948

1Population aged 65 and over, divided by population aged 20-64.

2Sum of population aged 65 and over, and population under age 20, divided by population aged 20-64.

Notes:
1. Historical data are subject to revision.
2. Totals do not necessarily equal the sums of rounded components.

5. Life Expectancy Estimates

Life expectancy, or average remaining number of years expected prior to death, is a useful analytical concept. Life expectancy is calculated in two different forms, for two separate purposes.

Period life expectancy is calculated for a given year using the actual or expected death rates at each age for that year. It is a useful summary statistic for illustrating the overall level of the death rates experienced in a single year. It is thus closely related to the age-sex-adjusted death rate that is discussed in section V.A.2. Period life expectancy for a particular year may be viewed as the expected remaining life at a selected age only if it is assumed that there is no change in death rates after that year.

Cohort life expectancy truly answers the question "What is the expected average remaining lifetime for an individual at a selected age in a given year?" Cohort life expectancies are calculated using death rates not from a single year, but from the series of years in which the individual will actually reach each succeeding age if he or she survives. Cohort life expectancies are shown in table V.A4 for those born on January 1 of each calendar year, and for those attaining age 65 on January 1 of each calendar year.

Tables V.A3 and V.A4 present historical and projected life expectancies calculated on both period and cohort bases. Cohort life expectancies are somewhat greater than period life expectancies for the same year. This is because death rates for any given age tend to decline as time passes and the cohort grows older.

Table V.A3.—Period Life Expectancies 1
Calendar
year
Low Cost
 
Intermediate
 
High Cost
At birth
 
At age 65
At birth
 
At age 65
At birth
 
At age 65
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
Historical data:
 
1940
 
 
 
 
 
 
61.4
65.7
 
11.9
13.4
 
 
 
 
 
 
 
1945
 
 
 
 
 
 
62.9
68.4
 
12.6
14.4
 
 
 
 
 
 
 
1950
 
 
 
 
 
 
65.6
71.1
 
12.8
15.1
 
 
 
 
 
 
 
1955
 
 
 
 
 
66.7
72.8
 
13.1
15.6
 
 
 
 
 
 
 
1960
 
 
 
 
 
 
66.7
73.2
 
12.9
15.9
 
 
 
 
 
 
 
1965
 
 
 
 
 
 
66.8
73.8
 
12.9
16.3
 
 
 
 
 
 
 
1970
 
 
 
 
 
 
67.2
74.9
 
13.1
17.1
 
 
 
 
 
 
 
1975
 
 
 
 
 
 
68.7
76.6
 
13.7
18.0
 
 
 
 
 
 
 
1980
 
 
 
 
 
 
69.9
77.5
 
14.0
18.4
 
 
 
 
 
 
 
1985
 
 
 
 
 
 
71.1
78.2
 
14.4
18.6
 
 
 
 
 
 
 
1990
 
 
 
 
 
 
71.8
78.9
 
15.1
19.1
 
 
 
 
 
 
 
 
1991
 
 
 
 
 
 
72.0
79.0
 
15.2
19.2
 
 
 
 
 
 
 
1992
 
 
 
 
 
 
72.3
79.2
 
15.3
19.3
 
 
 
 
 
 
 
1993
 
 
 
 
 
 
72.1
79.0
 
15.2
19.0
 
 
 
 
 
 
 
1994
 
 
 
 
 
 
72.3
79.1
 
15.3
19.1
 
 
 
 
 
 
 
1995
 
 
 
 
 
 
72.5
79.1
 
15.4
19.1
 
 
 
 
 
 
 
1996
 
 
 
 
 
 
73.0
79.2
 
15.5
19.1
 
 
 
 
 
 
 
1997
 
 
 
 
 
 
73.4
79.4
 
15.6
19.1
 
 
 
 
 
 
 
1998
 
 
 
 
 
 
73.7
79.4
 
15.7
19.1
 
 
 
 
 
 
 
1999
 
 
 
 
 
 
73.8
79.3
 
15.7
19.0
 
 
 
 
 
 
 
2000
 
 
 
 
 
 
74.0
79.4
 
15.9
19.0
 
 
 
 
 
 
 
2001
 
 
 
 
 
 
74.1
79.5
 
16.1
19.1
 
 
 
 
 
 
 
2002 2
 
 
 
 
 
 
74.4
79.5
 
16.0
19.0
 
 
 
 
 
 
 
2003 2
 
 
 
 
 
 
74.5
79.5
 
16.1
19.0
 
 
 
 
 
 
 
2004 2
 
 
 
 
 
 
74.6
79.6
 
16.2
19.0
 
 
 
 
 
 
Projected:
 
2005
74.7
79.6
 
16.2
19.0
 
74.8
79.6
 
16.2
19.0
 
74.9
79.7
 
16.3
19.1
 
2010
75.0
79.6
 
16.3
18.9
 
75.4
80.0
 
16.6
19.2
 
75.9
80.4
 
16.8
19.5
 
2015
75.2
79.7
 
16.4
19.0
 
76.0
80.4
 
16.9
19.4
 
76.8
81.1
 
17.4
19.9
 
2020
75.5
80.0
 
16.5
19.1
 
76.5
80.8
 
17.2
19.7
 
77.7
81.8
 
17.9
20.5
 
2025
75.8
80.2
 
16.6
19.2
 
77.0
81.2
 
17.5
20.0
 
78.6
82.6
 
18.5
21.0
 
2030
76.0
80.4
 
16.8
19.3
 
77.5
81.7
 
17.8
20.3
 
79.4
83.3
 
19.0
21.5
 
2035
76.3
80.6
 
16.9
19.4
 
78.0
82.1
 
18.1
20.6
 
80.2
84.0
 
19.5
22.0
 
2040
76.5
80.8
 
17.0
19.5
 
78.5
82.5
 
18.4
20.9
 
80.9
84.7
 
20.0
22.5
 
2045
76.8
81.0
 
17.1
19.7
 
78.9
82.9
 
18.7
21.2
 
81.7
85.3
 
20.5
23.0
 
2050
77.0
81.2
 
17.2
19.8
 
79.4
83.2
 
18.9
21.4
 
82.4
85.9
 
21.0
23.4
 
2055
77.3
81.3
 
17.3
19.9
 
79.8
83.6
 
19.2
21.7
 
83.1
86.5
 
21.5
23.9
 
2060
77.5
81.5
 
17.4
20.0
 
80.2
83.9
 
19.5
21.9
 
83.7
87.1
 
22.0
24.4
 
2065
77.7
81.7
 
17.6
20.1
 
80.6
84.3
 
19.7
22.2
 
84.4
87.7
 
22.4
24.8
 
2070
77.9
81.9
 
17.7
20.2
 
81.0
84.6
 
20.0
22.4
 
85.0
88.2
 
22.9
25.2
 
2075
78.1
82.0
 
17.8
20.3
 
81.3
84.9
 
20.2
22.7
 
85.6
88.7
 
23.3
25.6
 
2080
78.3
82.2
 
17.9
20.4
 
81.7
85.2
 
20.5
22.9
 
86.2
89.3
 
23.7
26.1

1The period life expectancy at a given age for a given year represents the average number of years of life remaining if a group of persons at that age were to experience the mortality rates for that year over the course of their remaining lives.

2Preliminary or estimated.

Table V.A4.—Cohort Life Expectancies 1
Calendar
year
Low Cost
 
Intermediate
 
High Cost
At birth2
 
At age 65  3
At birth2
 
At age 65 3
At birth2
 
At age 65  3
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
1940
69.2
75.2
 
12.7
14.7
 
69.6
75.8
 
12.7
14.7
 
70.0
76.3
 
12.7
14.7
1945
70.7
76.6
 
13.0
15.4
 
71.2
77.3
 
13.0
15.4
 
71.9
78.1
 
13.0
15.4
1950
71.7
77.6
 
13.1
16.2
 
72.5
78.5
 
13.1
16.2
 
73.4
79.5
 
13.1
16.2
1955
72.2
78.0
 
13.1
16.7
 
73.2
79.1
 
13.1
16.7
 
74.5
80.5
 
13.1
16.7
1960
72.7
78.3
 
13.2
17.4
 
73.9
79.6
 
13.2
17.4
 
75.5
81.2
 
13.2
17.4
1965
73.3
78.6
 
13.5
18.0
 
74.7
80.1
 
13.5
18.0
 
76.6
82.1
 
13.5
18.0
1970
74.1
79.2
 
13.8
18.5
 
75.8
80.9
 
13.8
18.5
 
78.0
83.2
 
13.8
18.5
1975
74.8
79.7
 
14.2
18.7
 
76.7
81.6
 
14.2
18.7
 
79.3
84.2
 
14.2
18.7
1980
75.4
80.2
 
14.7
18.7
 
77.6
82.3
 
14.7
18.7
 
80.5
85.1
 
14.7
18.8
1985
75.9
80.5
 
15.2
18.8
 
78.3
82.8
 
15.2
18.8
 
81.5
86.0
 
15.2
18.9
1990
76.3
80.8
 
15.6
18.8
 
78.9
83.3
 
15.7
19.0
 
82.5
86.7
 
15.8
19.2
 
1991
76.4
80.9
 
15.7
18.9
 
79.0
83.4
 
15.8
19.0
 
82.7
86.9
 
15.9
19.2
1992
76.4
80.9
 
15.7
18.9
 
79.2
83.5
 
15.9
19.1
 
82.9
87.0
 
16.0
19.3
1993
76.5
81.0
 
15.8
18.9
 
79.3
83.6
 
15.9
19.1
 
83.0
87.2
 
16.1
19.3
1994
76.6
81.0
 
15.9
18.9
 
79.4
83.7
 
16.0
19.1
 
83.2
87.3
 
16.2
19.4
1995
76.7
81.1
 
16.0
18.9
 
79.5
83.8
 
16.1
19.2
 
83.4
87.5
 
16.3
19.5
1996
76.8
81.1
 
16.0
18.9
 
79.6
83.9
 
16.2
19.2
 
83.6
87.7
 
16.5
19.5
1997
76.8
81.2
 
16.1
18.9
 
79.7
84.0
 
16.3
19.3
 
83.8
87.8
 
16.6
19.6
1998
76.9
81.2
 
16.2
18.9
 
79.8
84.0
 
16.4
19.3
 
83.9
87.9
 
16.7
19.7
1999
76.9
81.3
 
16.2
18.9
 
79.9
84.1
 
16.5
19.3
 
84.1
88.0
 
16.8
19.8
2000 
77.0
81.3
 
16.3
19.0
 
80.0
84.2
 
16.6
19.4
 
84.2
88.2
 
17.0
19.9
2001 
77.0
81.4
 
16.3
19.0
 
80.1
84.3
 
16.7
19.4
 
84.4
88.3
 
17.1
20.0
2002 
77.1
81.4
 
16.3
19.0
 
80.2
84.4
 
16.7
19.5
 
84.6
88.4
 
17.2
20.1
2003
77.1
81.4
 
16.4
19.0
 
80.3
84.4
 
16.8
19.6
 
84.7
88.6
 
17.3
20.2
2004
77.2
81.5
 
16.4
19.0
 
80.4
84.5
 
16.9
19.6
 
84.9
88.7
 
17.4
20.3
 
2005
77.2
81.5
 
16.4
19.0
 
80.5
84.6
 
17.0
19.7
 
85.0
88.8
 
17.6
20.4
2010
77.5
81.7
 
16.6
19.1
 
81.0
85.0
 
17.3
20.0
 
85.8
89.5
 
18.2
20.9
2015
77.7
81.9
 
16.7
19.3
 
81.4
85.3
 
17.6
20.3
 
86.5
90.1
 
18.8
21.5
2020
78.0
82.1
 
16.8
19.4
 
81.8
85.7
 
17.9
20.6
 
87.1
90.6
 
19.3
22.0
2025
78.2
82.3
 
16.9
19.5
 
82.2
86.0
 
18.2
20.9
 
87.8
91.2
 
19.9
22.6
2030
78.4
82.4
 
17.0
19.6
 
82.6
86.3
 
18.5
21.2
 
88.4
91.7
 
20.4
23.1
2035
78.6
82.6
 
17.2
19.7
 
82.9
86.6
 
18.8
21.4
 
89.0
92.2
 
21.0
23.6
2040
78.8
82.8
 
17.3
19.9
 
83.3
86.9
 
19.1
21.7
 
89.5
92.7
 
21.5
24.1
2045
79.0
82.9
 
17.4
20.0
 
83.6
87.2
 
19.4
22.0
 
90.1
93.2
 
22.0
24.6
2050
79.2
83.1
 
17.5
20.1
 
84.0
87.5
 
19.7
22.2
 
90.6
93.7
 
22.5
25.0
2055
79.4
83.2
 
17.6
20.2
 
84.3
87.7
 
19.9
22.5
 
91.2
94.1
 
23.0
25.5
2060
79.6
83.3
 
17.7
20.3
 
84.6
88.0
 
20.2
22.7
 
91.7
94.6
 
23.5
26.0
2065
79.7
83.5
 
17.8
20.4
 
84.9
88.3
 
20.4
23.0
 
92.1
95.0
 
23.9
26.4
2070
79.9
83.6
 
17.9
20.5
 
85.2
88.5
 
20.7
23.2
 
92.6
95.4
 
24.4
26.8
2075
80.1
83.7
 
18.0
20.6
 
85.5
88.8
 
20.9
23.4
 
93.1
95.8
 
24.8
27.3
2080
80.2
83.9
 
18.1
20.7
 
85.8
89.0
 
21.1
23.7
 
93.6
96.2
 
25.2
27.7

1The cohort life expectancy at a given age for a given year represents the average number of years of life remaining if a group of persons at that age were to experience the mortality rates for the series of years in which they reach each succeeding age.

2Cohort life expectancies at birth for those born on January 1 of the calendar year are based on a combination of actual and projected data for birth years prior to 2002. For birth years after 2001, these values are based on projected data.

3Age 65 cohort life expectancies for those attaining age 65 on January 1 of the calendar year are based on actual data prior to 1970. For 1970 through 2001, these values are based on a combination of actual and projected data. After 2001, these values are based on projected data.


1Further details about the assumptions, methods, and actuarial estimates are contained in Actuarial Studies published by the Office of the Chief Actuary, Social Security Administration. A complete list of available studies may be found on the Internet at www.socialsecurity.gov/OACT/NOTES/actstud.html. To obtain copies of such Studies, or of this report, submit a request via our Internet request form; or write to: Office of the Chief Actuary, 700 Altmeyer Building, 6401 Security Boulevard, Baltimore, MD 21235; or call (410) 965-3015. This entire report, along with supplemental year-by-year tables, may also be found at www.socialsecurity.gov/OACT/TR/TR05/index.html.

2Defined to be the average number of children that would be born to a woman in her lifetime if she were to experience the birth rates by age observed in, or assumed for, the selected year, and if she were to survive the entire childbearing period. A rate of 2.1 would ultimately result in a nearly constant population if net immigration were zero and if death rates were constant.

3These rates reflect NCHS data on deaths and Census estimates of population.

4Calculated here as the crude rate that would occur in the enumerated total population as of April 1, 2000, if that population were to experience the death rates by age and sex for the selected year.

5Average rate of decline is calculated as the annual geometric rate of reduction between the first and last years of the period.

6Consistent with the U.S. Citizenship and Immigration Services, legal immigrants are individuals admitted to the U.S. for legal permanent residence.

7Excludes those persons admitted under the Immigration Reform and Control Act of 1986.

8600,000 net legal immigrants plus 300,000 net other immigrants.

9850,000 net legal immigrants plus 450,000 net other immigrants.

10472,500 net legal immigrants plus 200,000 net other immigrants.


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