TABLE II.F11.--OPERATIONS OF THE OASI AND DI TRUST FUNDS, COMBINED, DURING SELECTED FISCAL YEARS 1960-94 AND ESTIMATED FUTURE OPERATIONS DURING FISCAL YEARS 1995-2004, 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 Estimates: 1995........ 398,518 359,615 5,451 7 33,445 1996........ 425,127 381,207 6,721 -1,165 38,364 1997........ 450,029 399,154 7,170 3 43,702 1998........ 475,926 418,632 7,683 3 49,609 1999........ 501,866 438,033 8,242 2 55,589 2000........ 530,301 459,670 8,865 1 61,765 2001........ 561,844 484,073 9,539 1 68,231 2002........ 595,447 510,128 10,271 1 75,048 2003........ 631,727 538,568 11,068 (5) 82,090 2004........ 670,352 569,080 11,928 (5) 89,344 ------------------------------------------------------------------------------- 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 1960-94 AND ESTIMATED FUTURE OPERATIONS DURING FISCAL YEARS 1995-2004, 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 payments6/ 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 7/ 7,538 39,750 1986..... 198,730 193,869 2,209 2,653 7/ 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 Estimates: 1995..... 335,529 329,090 2,723 3,716 62,989 485,695 1996..... 353,214 346,050 3,419 3,745 71,913 557,609 1997..... 371,364 364,120 3,489 3,755 78,665 636,274 1998..... 390,692 383,449 3,403 3,840 85,234 721,508 1999..... 411,673 404,281 3,480 3,912 90,193 811,701 2000..... 434,581 426,975 3,603 4,004 95,720 907,420 2001..... 459,198 451,374 3,746 4,078 102,646 1,010,066 2002..... 485,948 477,839 3,901 4,207 109,500 1,119,565 2003..... 514,861 506,467 4,068 4,326 116,866 1,236,431 2004..... 545,818 537,127 4,247 4,444 124,534 1,360,966 ------------------------------------------------------------------------------- 6/ 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. 7/ 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.