Short-Range Actuarial Projections of the Old-Age, Survivors, and Disability Insurance Program, 2001
Actuarial Study No. 115
Chris Motsiopoulos and Tim Zayatz, A.S.A.
Contents Glossary




 

IV. TRUST FUND INCOME AND OUTGO

Table IV.13.—Operations of the OASI Trust Fund
(Calendar years 1975-2000, and calendar quarters 2001-10)
[In millions]
Calendar
period
Income
Disbursements
Interfund
borrowing
transfers 1
Net
increase
in fund
Fund
at end
of period
Net
contri-
butions
Income
from
taxation
of benefits 2
Military
service 3
Payments
to unin-
sured
persons4
Net
interest 5
Total
Benefit
payments 6
Adminis-
trative
expenses
Transfers to
Railroad
Retirement
program
Total
1975
$56,815.3
...
$157.0
$268.3
$2,364.1
$59,605.1
$58,517.9
$896.0
$981.8
$60,395.1
...
-$790.0
$36,987.2
1976
63,361.3
...
378.0
235.9
2,300.7
66,276.3
65,705.0
959.0
1,212.3
67,876.0
...
-1,599.6
35,387.6
1977
69,571.0
...
384.7
228.2
2,227.3
72,412.2
73,121.1
981.0
1,207.8
75,309.1
...
-2,896.9
32,490.8
1978
75,470.5
...
384.5
230.5
2,008.3
78,093.8
80,361.3
1,115.0
1,588.7
83,064.5
...
-4,970.7
27,520.1
1979
87,919.7
...
393.0
164.1
1,797.6
90,274.1
90,573.7
1,113.0
1,447.5
93,133.6
...
-2,859.6
24,660.5
1980
103,455.1
...
390.1
149.8
1,845.3
105,841.6
105,082.4
1,154.0
1,442.0
107,678.6
...
-1,837.0
22,823.5
1981
122,627.1
...
534.3
140.4
2,059.9
125,361.2
123,803.4
1,307.0
1,584.9
126,694.9
...
-1,333.7
21,489.8
1982
123,673.1
...
541.5
138.7
845.6
125,198.5
138,805.8
1,519.0
1,793.3
142,119.2
$17,518.5
597.8
22,087.6
1983
132,715.7
...
11,037.0
124.5
6,706.5
150,584.0
149,220.4
1,528.0
2,250.8
152,999.5
...
-2,415.5
19,672.1
1984
163,341.2
$2,834.9
782.0
105.0
2,266.0
169,327.8
157,841.0
1,638.0
2,404.0
161,883.0
...
7,444.8
27,116.9
1985
176,631.8
3,207.8
2,529.0
...
1,871.0
184,239.3
167,247.8
1,592.0
2,310.2
171,150.1
-4,364.0
8,725.2
35,842.1
1986
190,416.7
3,423.6
325.0
159.7
3,068.6
197,393.4
176,812.8
1,601.4
2,585.1
180,999.9
-13,154.5
3,238.9
39,081.0
1987
202,386.1
3,256.9
348.4
54.6
4,689.7
210,735.8
183,586.5
1,524.1
2,557.3
187,667.8
...
23,067.9
62,148.9
1988
229,490.9
3,384.5
284.0
42.6
7,568.1
240,770.1
195,454.0
1,776.2
2,790.0
200,020.3
...
40,749.8
102,898.7
1989
249,890.4
2,439.3
304.8
34.0
11,984.9
264,653.4
207,971.1
1,673.7
2,845.3
212,489.0
...
52,164.4
155,063.1
1990
267,079.2
4,848.4
-1,663.0
25.5
16,362.5
286,652.6
222,986.8
1,562.6
2,969.3
227,518.6
...
59,134.0
214,197.2
1991
272,217.6
5,864.3
356.3
18.9
20,829.1
299,286.1
240,467.4
1,792.2
3,374.6
245,634.2
...
53,652.0
267,849.1
1992
280,664.5
5,852.3
327.4
14.1
24,303.3
311,161.7
254,882.8
1,829.8
3,148.4
259,860.9
...
51,300.8
319,149.9
1993
290,598.4
5,334.6
306.6
10.1
27,027.2
323,276.7
267,755.2
1,996.5
3,352.5
273,104.2
...
50,172.5
369,322.5
1994
293,035.8
4,994.7
286.8
7.0
29,946.3
328,270.6
279,067.9
1,645.3
3,419.6
284,132.9
...
44,137.7
413,460.2
1995
304,378.1
5,490.2
113.1
...
32,819.7
342,801.1
291,630.5
2,076.8
4,052.3
297,759.7
...
45,041.5
458,501.6
1996
321,293.8
6,470.9
262.9
7.4
35,706.2
363,741.1
302,861.2
1,801.9
3,554.1
308,217.1
...
55,524.0
514,025.6
1997
349,679.0
7,425.9
267.5
1.8
39,794.8
397,168.9
316,257.0
2,128.4
3,688.1
322,073.4
...
75,095.5
589,121.1
1998
370,964.4
9,149.0
243.0
.7
44,490.7
424,847.8
326,761.8
1,899.5
3,662.2
332,323.5
...
92,524.3
681,645.4
1999
396,124.7
10,898.6
227.6
.4
49,788.9
457,040.3
334,383.4
1,808.9
3,681.4
339,873.7
...
117,166.6
798,811.9
2000
421,383.4
11,593.5
7.2
...
57,528.9
490,513.0
352,651.5
2,149.0
3,538.2
358,338.7
...
132,174.3
930,986.2
2001-I
114,833.6
3,000.0
...
...
163.6
117,997.6
92,318.4
613.2
...
92,931.5
...
25,066.1
956,052.3
2001-II
123,501.8
3,037.8
...
...
31,392.1
157,932.0
92,832.0
498.3
3,226.8
96,557.0
...
61,374.9
1,017,427.3
2001-III
104,774.2
3,071.9
450.0
...
129.0
108,426.0
93,008.7
487.3
...
94,361.0
...
14,065.0
1,031,492.2
2001-IV
99,428.9
3,062.3
415.3
-.7
32,889.4
135,795.0
93,578.3
687.3
...
94,265.5
...
41,529.4
1,073,021.7
2002-I
120,766.9
3,269.3
...
...
348.1
124,384.4
96,442.5
661.5
...
97,104.0
...
27,280.4
1,100,302.1
2002-II
130,373.8
3,290.2
...
...
34,939.7
168,603.8
97,058.1
537.6
3,593.5
101,189.2
...
67,414.6
1,167,716.7
2002-III
110,377.1
3,298.0
273.5
...
262.4
114,211.4
97,287.5
525.7
...
97,813.2
...
16,398.2
1,184,114.9
2002-IV
105,081.5
3,318.7
...
...
37,045.3
145,445.9
97,897.6
673.0
...
98,570.6
...
46,875.3
1,230,990.2
2003-I
127,200.3
3,550.2
...
...
331.9
131,082.1
100,995.5
647.8
...
101,643.3
...
29,438.9
1,260,429.0
2003-II
136,237.0
3,573.3
...
...
39,485.6
179,294.9
101,650.9
526.5
3,587.7
105,765.0
...
73,529.9
1,333,959.0
2003-III
115,522.6
3,582.0
259.8
...
295.8
119,659.8
101,896.8
514.8
...
102,411.6
...
17,248.2
1,351,207.1
2003-IV
110,878.1
3,604.2
...
.1
41,724.0
156,207.2
102,531.9
674.7
...
103,206.6
...
53,000.6
1,404,207.7
2004-I
131,862.3
3,842.9
...
...
314.9
136,019.9
105,932.9
649.4
...
106,582.2
...
29,437.7
1,433,645.4
2004-II
142,630.4
3,870.9
...
...
44,446.8
190,948.8
106,704.9
527.7
3,579.4
110,812.0
...
80,136.8
1,513,782.2
2004-III
120,977.8
3,882.3
247.8
...
304.9
125,413.1
107,016.0
516.0
...
107,532.1
...
17,881.0
1,531,663.2
2004-IV
118,396.4
3,907.4
...
...
47,061.3
169,365.8
107,710.7
682.3
...
108,393.0
...
60,972.8
1,592,636.0
2005-I
138,682.9
4,124.8
...
...
226.5
143,033.3
111,440.5
656.8
...
112,097.3
...
30,936.0
1,623,572.0
2005-II
150,714.8
4,157.0
...
...
50,229.0
205,099.9
112,310.3
533.7
3,576.3
116,420.3
...
88,679.6
1,712,251.6
2005-III
129,323.5
4,170.6
250.7
...
289.2
134,034.8
112,678.5
521.9
...
113,200.4
...
20,834.5
1,733,086.0
2005-IV
121,522.4
4,198.8
...
...
53,176.0
178,897.8
113,439.0
692.3
...
114,131.3
...
64,766.5
1,797,852.6
2006-I
146,845.2
4,422.2
...
...
295.5
151,562.6
117,511.5
666.3
...
118,177.9
...
33,384.7
1,831,237.3
2006-II
158,316.3
4,456.7
...
...
56,510.8
219,283.6
118,430.5
541.5
3,422.2
122,394.2
...
96,889.4
1,928,126.7
2006-III
134,249.9
4,471.9
253.0
...
273.2
139,248.1
118,832.8
529.5
...
119,362.3
...
19,885.8
1,948,012.5
2006-IV
127,358.6
4,503.7
...
...
59,786.5
191,648.2
119,680.5
701.9
...
120,382.4
...
71,265.8
2,019,278.3
2007-I
154,580.4
4,750.3
...
...
278.4
159,608.9
124,161.2
675.6
...
124,836.9
...
34,772.0
2,054,050.3
2007-II
166,171.1
4,788.2
...
...
63,364.2
234,323.4
125,151.1
549.1
3,628.0
129,328.2
...
104,995.2
2,159,045.5
2007-III
141,043.9
4,805.8
255.7
...
254.9
146,360.7
125,610.9
536.9
...
126,147.8
...
20,212.9
2,179,258.4
2007-IV
133,687.0
4,843.9
...
...
66,957.0
205,488.9
126,606.1
711.4
...
127,317.5
...
78,171.4
2,257,429.9
2008-I
161,807.7
5,123.5
...
...
259.2
167,190.6
131,523.8
684.8
...
132,208.5
...
34,982.1
2,292,411.9
2008-II
173,993.1
5,169.8
...
...
70,773.9
249,937.8
132,712.7
556.5
3,669.5
136,938.7
...
112,999.1
2,405,411.1
2008-III
147,311.7
5,193.2
258.4
...
236.0
152,998.2
133,312.8
544.2
...
133,857.0
...
19,141.2
2,424,552.3
2008-IV
141,122.9
5,240.4
...
...
74,693.8
221,057.2
134,525.3
720.9
...
135,246.1
...
85,811.1
2,510,363.4
2009-I
169,233.7
5,568.6
...
...
240.3
175,043.0
140,000.6
693.9
...
140,694.4
...
34,348.6
2,544,712.0
2009-II
181,904.1
5,626.6
...
...
78,731.8
266,263.4
141,459.0
563.9
3,754.2
145,777.1
...
120,486.3
2,665,198.3
2009-III
153,771.0
5,658.5
261.2
...
218.2
159,908.7
142,260.2
551.4
...
142,811.6
...
17,097.2
2,682,295.4
2009-IV
150,290.5
5,718.8
...
...
82,713.0
238,721.8
143,777.6
729.9
...
144,507.4
...
94,214.5
2,776,509.9
2010-I
175,200.1
6,093.1
...
...
221.6
181,514.7
149,690.6
702.5
...
150,393.2
...
31,121.5
2,807,631.4
2010-II
191,795.1
6,149.1
...
...
86,934.8
284,878.9
151,067.3
570.9
3,848.9
155,487.1
...
129,391.8
2,937,023.2
2010-III
163,584.5
6,181.5
264.3
...
199.3
170,229.7
151,861.9
558.3
...
152,420.2
...
17,809.5
2,954,832.7
2010-IV
156,657.0
6,252.5
...
...
91,251.7
254,161.2
153,607.6
738.7
...
154,346.2
...
99,815.0
3,054,647.7

1 Positive figure represents amounts lent to the OASI Trust Fund from the DI and HI Trust Funds. Negative figures represent amounts repaid from the OASI Trust Fund to the DI and HI Trust Funds. Transfers were not available until November 1982.

2 Income from taxation of benefits was not available until 1984.

3 Paid from the general fund of the Treasury. Includes transfers representing contributions that would have been paid on deemed wage credits for military service performed-traditionally split into "pre-1957" and "post-1956"-if such credits were considered covered wages. In 1983, a change in the financing basis for pre-1957 service resulted in a one-time transfer for past credits-adjustments to the initial 1983 transfer were made in 1985, 1990, and 1995. Scheduled adjustments for 2000 will be made in 2001. Additional adjustments are expected quinquennially thereafter.

4 Paid from the general fund of the Treasury. Includes costs of benefits to certain uninsured persons who attained age 72 before 1968.

5 Net interest includes net profits or losses on marketable investments. 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. Calendar years 1982-86 reflect interest on interfund borrowing. Calendar years 1983-90 reflect interest on advance tax transfers. The amount shown for 1985 includes an interest adjustment of $88 million on unnegotiated checks issued before April 1985.

6 Includes payments for vocational rehabilitation services furnished to disabled persons receiving benefits because of their disabilities. Beginning in 1983, relatively small reductions are made for the amount of reimbursement for unnegotiated benefit checks.

Sources:

All detail columns shown earlier. Totals may not match sum of components due to rounding.

Net increase in fund computed as total income minus total disbursements plus interfund borrowing transfers.

Historical fund at end of period based on administrative records from the Department of the Treasury; projected fund at end of period computed by adding net increase in fund to fund at end of previous period.

Note: Future estimates based on 2001 Trustees Report intermediate set of assumptions. See tables V.A9 and V.B9 for low-cost and high-cost alternatives, respectively.


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December 26, 2001