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Trustees Reports- 1996

 

Table II.F11. - Operations of the OASI and DI Trust Funds, Combined, During Selected Fiscal Years 1960-95 and Estimated Future Operations During Fiscal Years 1996-2005, on the Basis of the Intermediate Set of Assumptions
[In millions]

-------------------------------------------------------------------------------
                                               Income
                 --------------------------------------------------------------
                                                          Payments
                                               Income     from the
                                           from taxa- general fund
  Fiscal                     Net contri-      tion of       of the          Net
  year 1/             Total    butions2/     benefits   Treasury3/   interest4/
-------------------------------------------------------------------------------
Historical data:
  1960........      $11,394      $10,830           --           --         $564
  1965........       17,681       17,032           --           --          648
  1970........       36,127       34,096           --         $458        1,572
  1975........       66,677       63,374           --          499        2,804
  1980........      117,427      114,413           --          675        2,339
  1985........      197,865      192,181       $3,368          105        2,211

  1986........      215,461      205,146        3,558        3,310        3,447
  1987........      226,893      218,878        3,307           69        4,638
  1988........      258,090      248,145        3,390           55        6,500
  1989........      284,936      270,811        3,772           43       10,310
  1990........      306,822      288,797        3,081           34       14,909

  1991........      322,611      299,794        5,921       -2,864       19,759
  1992........      338,270      308,377        6,237           19       23,637
  1993........      351,354      318,391        6,161           14       26,788
  1994........      376,307      341,438        5,656           10       29,203
  1995........      396,276      357,516        5,449            7       33,304

Estimates:
  1996........      416,220      373,897        6,159         -327       36,491
  1997........      437,852      390,169        7,195            3       40,485
  1998........      460,545      408,185        7,694            2       44,664
  1999........      486,582      429,177        8,242            2       49,162
  2000........      513,841      451,064        8,837            1       53,939

  2001........      540,892      472,145        9,500          170       59,078
  2002........      571,743      496,973       10,228          (5)       64,541
  2003........      604,793      523,434       11,019          (5)       70,340
  2004........      639,417      551,086       11,887          (5)       76,444
  2005........      683,612      587,871       12,836          (5)       82,905
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1/ Under the Congressional Budget Act of 1974 (Public Law 93-344), fiscal years
1977 and later consist of the 12 months ending on September 30 of each year.
Fiscal years prior to 1977 consisted of the 12 months ending on June 30 of each
year.
2/ Beginning in 1983, includes transfers from general fund of Treasury repre-
senting contributions that would have been paid on deemed wage credits for
military service in 1957 and later, if such credits were considered to be
covered wages.
3/ Includes payments (1) in 1947-52 and in 1967 and later, for costs of non-
contributory wage credits for military service performed before 1957; (2) in
1972-83, for costs of deemed wage credits for military service performed after
1956; and (3) in 1969 and later, for costs of benefits to certain uninsured
persons who attained age 72 before 1968.
4/ Net interest includes net profits or losses on marketable investments.
Beginning in 1967, administrative expenses are charged currently to the trust
funds 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. For years prior to 1967, a description of the method
of accounting for administrative expenses is contained in the 1970 Annual
Report. Beginning in October 1973, the figures shown include relatively small
amounts of gifts to the funds. Net interest for 1983-86 reflects payments from
a borrowing trust fund to a lending trust fund for interest on amounts owed
under the interfund borrowing provisions. During 1983-91, interest paid from
the trust funds to the general fund on advance tax transfers is reflected. The
amounts shown for 1985 and 1986 include interest adjustments of $91.3 million
and $11.5 million, respectively, on unnegotiated checks issued before April
1985.
5/ Less than $500,000.
      

Table II.F11. - Operations of the OASI and DI Trust Funds, Combined, During Selected Fiscal Years 1960-95 and Estimated Future Operations During Fiscal Years 1996-2005, on the Basis of the Intermediate Set of Assumptions (Cont.)
[In millions]

-------------------------------------------------------------------------------
                              Expenditures                       Assets
                ---------------------------------------  ----------------------
                                              Transfers
                                                     to          Net
                                    Adminis-   Railroad     increase     Amount
  Fiscal                  Benefit    trative Retirement       during  at end of
   year          Total payments1/   expenses    program         year     period
-------------------------------------------------------------------------------
Historical data:
  1960.....    $11,606    $10,798       $234       $574        -$212    $22,996
  1965.....     17,456     16,618        379        459          224     22,187
  1970.....     30,275     29,063        623        589        5,851     37,720
  1975.....     64,658     62,547      1,101      1,010        2,018     48,138
  1980.....    118,548    115,624      1,494      1,430       -1,121     32,246
  1985.....    188,504    183,959      2,192      2,353     2/ 7,538     39,750

  1986.....    198,730    193,869      2,209      2,653     2/ 6,117     45,867
  1987.....    207,323    202,430      2,279      2,614       19,570     65,437
  1988.....    219,290    213,907      2,532      2,851       38,800    104,237
  1989.....    232,491    227,150      2,407      2,934       52,445    156,682
  1990.....    248,605    243,275      2,280      3,049       58,217    214,900

  1991.....    269,096    263,104      2,535      3,457       53,515    268,415
  1992.....    287,524    281,650      2,668      3,206       50,746    319,161
  1993.....    304,566    298,176      2,955      3,435       46,788    365,949
  1994.....    319,551    313,129      2,896      3,526       56,757    422,706
  1995.....    335,830    328,841      2,870      4,120       60,446    483,152

Estimates:
  1996.....    350,453    343,778      3,119      3,556       65,766    548,918
  1997.....    368,446    361,123      3,484      3,838       69,407    618,325
  1998.....    386,552    379,488      3,180      3,884       73,993    692,318
  1999.....    406,623    399,288      3,373      3,962       79,959    772,277
  2000.....    428,449    420,885      3,506      4,057       85,393    857,670

  2001.....    452,110    444,329      3,636      4,145       88,782    946,452
  2002.....    477,922    469,910      3,778      4,234       93,821  1,040,273
  2003.....    505,812    497,531      3,934      4,347       98,981  1,139,254
  2004.....    536,128    527,554      4,102      4,472      103,289  1,242,543
  2005.....    568,700    559,820      4,280      4,600      114,912  1,357,455
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1/ Beginning in 1967, includes payments for vocational rehabilitation services
furnished to disabled persons receiving benefits because of their disabilities.
Beginning in 1983, amounts are reduced by amount of reimbursement for unnegoti-
ated benefit checks.
2/ Reflects offset for repayment from the OASI Trust Fund of amounts borrowed
from the HI Trust Fund in 1982. The amount repaid in 1985 was $1,824 million;
in 1986, the amount was $10,613 million.
Note: Totals do not necessarily equal the sums of rounded components.
      


 
 
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