2015 OASDI Trustees Report

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C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2024
Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2014 operations of the OASI, DI, and the theoretical combined OASI and DI Trust Funds, respectively. The fiscal year for the U.S. Government is the 12-month period ending September 30. Fiscal year 2014 is the most recent fiscal year for which complete information is available. The descriptions of the values in these tables are similar to the corresponding descriptions and values in the calendar year operations tables in section III.A. Please see that section for a description of the various items of income and outgo.
Payroll tax contributions1
Monthly benefits and lump-sum death payments4
Payment for costs of vocational rehabilitation services for disabled beneficiaries
Financial interchange with the Railroad Retirement “Social Security Equivalent
Benefit Account”
Miscellaneous reimbursements from the general fund 5

1
Includes adjustments for prior years

2
Between -$0.5 and $0.5 million.

3
Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust fund.

4
Includes net reductions for the recovery of overpayments.

5
Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI program.

Note: Totals do not necessarily equal the sums of rounded components.
Payroll tax contributions1
Interest adjustments3
Monthly benefits4
Financial interchange with the Railroad Retirement “Social Security Equivalent
Benefit Account”
Miscellaneous reimbursements from the general fund 5

1
Includes adjustments for prior years.

2
Between -$0.5 and $0.5 million.

3
Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust fund.

4
Includes net reductions for the recovery of overpayments.

5
Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the DI program.

Note: Totals do not necessarily equal the sums of rounded components.
Payroll tax contributions1
Interest adjustments3
Monthly benefits and lump-sum death payments4
Financial interchange with the Railroad Retirement “Social Security Equivalent
Benefit Account”
Miscellaneous reimbursements from the general fund5

1
Includes adjustments for prior years.

2
Between -$0.5 and $0.5 million.

3
Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust funds and the general fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust funds.

4
Includes net reductions for the recovery of overpayments.

5
Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI and DI programs.

Note: Totals do not necessarily equal the sums of rounded components.
Tables VI.C4, VI.C5, and VI.C6 show estimates of the operations and status of the OASI, DI, and the theoretical combined OASI and DI Trust Funds, respectively, during fiscal years 2010-24.
GF
reim-
burse-
ments1
Taxa-
tion of
bene-fits2
Trust
fund
ratio 3

1
Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (3) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (4) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (5) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

2
Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

3
The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

4
Between -$50 million and $50 million.

Note: Totals do not necessarily equal the sums of rounded components.
Table VI.C5.—Operations of the DI Trust Fund, Fiscal Years 2010-241
GF
reim-
burse-
ments2
Taxa-
tion of
bene-fits3
Trust
fund
ratio 4

1
The DI Trust Fund becomes depleted in fiscal years 2017 and 2016 and remains so through 2024 under the intermediate and high-cost assumptions, respectively. Under the low-cost assumptions, reserves would be depleted in 2018 through early 2023. For any period during which reserves would be depleted, scheduled benefits could not be paid in full on a timely basis, income from taxing benefits would be less than would apply to scheduled benefits, and interest on trust fund reserves would be negligible.

2
Includes reimbursements from the General Fund of the Treasury to the DI Trust Fund for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (3) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (4) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

3
Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

4
The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

5
Between -$50 million and $50 million.

6
While the fund is depleted, values under current law would reflect permissible expenditures only, which are inconsistent with the cost of scheduled benefits shown in this table.

Note: Totals do not necessarily equal the sums of rounded components.
GF
reim-
burse-
ments1
fits2
Trust
fund
ratio 3