| |
Table II.F7. - Operations of the OASI Trust Fund During Selected Fiscal Years 1940-95 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:
1940........ $592 $550 -- -- $42
1945........ 1,434 1,310 -- -- 124
1950........ 2,367 2,106 -- $4 257
1955........ 5,525 5,087 -- -- 438
1960........ 10,360 9,843 -- -- 517
1965........ 16,443 15,857 -- -- 586
1970........ 31,746 29,955 -- 442 1,350
1975........ 58,757 56,017 -- 447 2,292
1980........ 100,051 97,608 -- 557 1,886
1985........ 179,881 175,305 $3,151 105 1,321
1986........ 195,331 187,007 3,329 2,293 2,701
1987........ 206,846 199,554 3,323 69 3,900
1988........ 235,720 226,409 3,335 55 5,922
1989........ 260,457 247,116 3,638 43 9,660
1990........ 278,607 261,506 2,924 34 14,143
1991........ 293,288 270,841 5,790 -2,089 18,746
1992........ 307,102 278,506 6,019 19 22,557
1993........ 319,298 287,569 5,893 14 25,822
1994........ 342,263 308,397 5,351 10 28,505
1995........ 326,067 289,529 5,114 7 31,417
Estimates:
1996........ 356,891 317,201 5,789 -124 34,025
1997........ 379,077 335,185 6,794 3 37,095
1998........ 400,139 352,240 7,253 2 40,644
1999........ 422,701 370,344 7,757 2 44,599
2000........ 443,724 386,563 8,302 1 48,858
2001........ 466,048 403,602 8,909 172 53,366
2002........ 492,637 424,830 9,577 (5) 58,230
2003........ 521,255 447,456 10,299 (5) 63,499
2004........ 551,363 471,092 11,088 (5) 69,183
2005........ 589,856 502,535 11,951 (5) 75,370
-------------------------------------------------------------------------------
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
fund 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 fund. 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 fund to the general fund on advance tax transfers is reflected. The
amounts shown for 1985 and 1986 include interest adjustments of $76.5 million
and $11.5 million, respectively, on unnegotiated checks issued before April
1985.
5/ Less than $500,000.
Table II.F7. - Operations of the OASI Trust Fund During Selected Fiscal Years 1940-95 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:
1940..... $28 $16 $12 -- $564 $1,745
1945..... 267 240 27 -- 1,167 6,613
1950..... 784 727 57 -- 1,583 12,893
1955..... 4,427 4,333 103 -$10 1,098 21,141
1960..... 11,073 10,270 202 600 -713 20,829
1965..... 15,962 15,226 300 436 482 20,180
1970..... 27,321 26,268 474 579 4,425 32,616
1975..... 56,676 54,847 848 982 2,081 39,948
1980..... 103,228 100,626 1,160 1,442 -3,177 24,566
1985..... 169,210 165,310 1,589 2,310 2/ 6,308 33,877
1986..... 178,534 174,340 1,609 2,585 2/ 3,642 37,519
1987..... 186,101 182,003 1,541 2,557 20,745 58,265
1988..... 197,021 192,502 1,729 2,790 38,700 96,964
1989..... 209,102 204,600 1,657 2,845 51,355 148,319
1990..... 223,481 218,948 1,564 2,969 55,126 203,445
1991..... 241,316 236,195 1,746 3,375 51,972 255,417
1992..... 256,239 251,268 1,823 3,148 50,862 306,280
1993..... 269,934 264,561 2,021 3,353 49,364 355,644
1994..... 281,572 276,278 1,874 3,420 60,691 416,335
1995..... 294,456 288,607 1,797 4,052 31,611 447,946
Estimates:
1996..... 306,031 300,454 2,023 3,554 50,860 498,806
1997..... 320,105 314,092 2,231 3,781 58,972 557,778
1998..... 334,649 328,800 2,051 3,797 65,490 623,268
1999..... 350,632 344,660 2,118 3,853 72,070 695,338
2000..... 367,935 361,828 2,175 3,931 75,788 771,127
2001..... 386,707 380,464 2,231 4,012 79,341 850,468
2002..... 407,249 400,869 2,292 4,088 85,388 935,856
2003..... 429,275 422,734 2,359 4,182 91,980 1,027,836
2004..... 452,970 446,250 2,431 4,289 98,393 1,126,229
2005..... 478,404 471,502 2,505 4,397 111,452 1,237,682
-------------------------------------------------------------------------------
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 DI and HI Trust Funds in 1982. The amount repaid in 1985 was $4,364
million; in 1986, the amount was $13,155 million.
Note: Totals do not necessarily equal the sums of rounded components.
|
www.socialsecurity.gov
