2007 OASDI Trustees Report
III. FINANCIAL OPERATIONS OF THE TRUST FUNDS AND LEGISLATIVE CHANGES IN THE LAST YEAR
Since the 2006 Annual Report was transmitted to Congress on May 1, 2006, one law was enacted that had a direct financial effect on the OASDI program.
The Social Security Trust Funds Restoration Act of 2006, Public Law 109-465, required the General Fund of the Treasury to reimburse the combined OASI and DI Trust Funds to fully correct the effects of a clerical error that resulted in excess transfers to the Internal Revenue Service for years 1999 through 2005 for voluntary income tax withholding by Social Security beneficiaries. This reimbursement occurred in December 2006, and is reflected in the reported OASI and DI Trust Fund balances as of December 31, 2006. See section III.A.1. for more details.