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## 2014 OASDI Trustees Report

Office of the Chief Actuary
Actuarial Publications
2014 Trustees Report
ContentsTablesFigures

LIST OF TABLES

	II. OVERVIEW

II.B1	Summary of 2013 Trust Fund Financial Operations

II.B2	Payroll Tax Contribution Rates for 2013

II.C1	Long-Range Values of Key Assumptions for the 75-yearProjection Period

II.D1	Projected Maximum Trust Fund Ratios During the Long-Range Period and Trust Fund Reserve Depletion Dates

II.D2	Reasons for Change in the 75-Year Actuarial Balance,Based on Intermediate Assumptions

	III. FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR

III.A1	Operations of the OASI Trust Fund, Calendar Year 2013

III.A2	Operations of the DI Trust Fund, Calendar Year 2013

III.A3	Operations of the Combined OASI and DI Trust Funds, Calendar Year 2013

III.A4	Comparison of Actual Calendar Year 2013 Trust FundOperations With Estimates Made in Prior Reports, Based on Intermediate Assumptions 

III.A5	Distribution of Benefit Payments by Type of Beneficiary or Payment, Calendar Years 2012 and 2013

III.A6	Administrative Expenses as a Percentage of Non-interest Income and of Total Expenditures, Calendar Years 2009-13

III.A7	Trust Fund Investment Transactions, Calendar Year 2013

	IV. ACTUARIAL ESTIMATES

IV.A1	Operations of the OASI Trust Fund,Calendar Years 2009-23 

IV.A2	Operations of the DI Trust Fund, Calendar Years 2009-23

IV.A3	Operations of the Combined OASI and DI Trust Funds,Calendar Years 2009-23

IV.A4	Reasons for Change in Trust Fund (Unfunded Obligation) Ratios at the Beginning of the Tenth Year of Projection UnderIntermediate Assumptions

IV.B1	Annual Income Rates, Cost Rates, and Balances,Calendar Years 1990-2090

IV.B2	Covered Workers and Beneficiaries,Calendar Years 1945-2090

IV.B3	Trust Fund Ratios, Calendar Years 2014-90

IV.B4	Components of Summarized Income Rates and Cost Rates, Calendar Years 2014-88

IV.B5	Components of 75-Year Actuarial BalanceUnder Intermediate Assumptions

IV.B6	Reasons for Change in the 75-Year Actuarial Balance,Based on Intermediate Assumptions

	V. ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES

V.A1	Principal Demographic Assumptions,Calendar Years 1940-2090

V.A2	Social Security Area Population on July 1 andDependency Ratios, Calendar Years 1945-2090 

V.A3	Period Life Expectancy 

V.A4	Cohort Life Expectancy 

V.B1	Principal Economic Assumptions

V.B2	Additional Economic Factors

V.C1	Cost-of-Living Benefit Increases, Average Wage Index, Contribution and Benefit Bases, and RetirementEarnings Test Exempt Amounts, 1975-2023

V.C2	Values for Selected Wage-Indexed Program Parameters, Calendar Years 1978-2023

V.C3	Legislated Changes in Normal Retirement Age and Delayed Retirement Credits for Persons Reaching Age 62 inEach Year 1986 and Later

V.C4	OASI Beneficiaries With Benefits in Current-Payment Statusat the End of Calendar Years 1945-2090

V.C5	DI Beneficiaries With Benefits in Current-Payment Statusat the End of Calendar Years 1960-2090

V.C6	Contribution and Benefit Base andPayroll Tax Contribution Rates

V.C7	Annual Scheduled Benefit Amounts for Retired Workers With Various Pre-Retirement Earnings Patterns Based on Intermediate Assumptions,Calendar Years 2014-90

	VI. APPENDICES

	A. HISTORY OF OASI AND DI TRUST FUND OPERATIONS

VI.A1	Operations of the OASI Trust Fund,Calendar Years 1937-2013

VI.A2	Operations of the DI Trust Fund, Calendar Years 1957-2013

VI.A3	Operations of the Combined OASI and DI Trust Funds,Calendar Years 1957-2013

VI.A4	OASI Trust Fund Asset Reserves, End of Calendar Years 2012 and 2013

VI.A5	DI Trust Fund Asset Reserves, End of Calendar Years 2012 and 2013

	B. HISTORY OFACTUARIAL STATUS

VI.B1	Long-Range OASDI Actuarial Balances  and Trust Fund Reserve Depletion Dates as Shown in theTrustees Reports for 1982-2014

	C. FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2023

VI.C1	Operations of the OASI Trust Fund, Fiscal Year 2013

VI.C2	Operations of the DI Trust Fund, Fiscal Year 2013

VI.C3	Operations of the Combined OASI and DI Trust Funds,Fiscal Year 2013

VI.C4	Operations of the OASI Trust Fund, Fiscal Years 2009-23

VI.C5	Operations of the DI Trust Fund, Fiscal Years 2009-23

VI.C6	Operations of the Combined OASI and DI Trust Funds,Fiscal Years 2009-23

	D. LONG-RANGE SENSITIVITY ANALYSIS

VI.D1	Sensitivity of OASDI Measures to VaryingFertility Assumptions

VI.D2	Sensitivity of OASDI Measures to VaryingDeath-Rate Assumptions

VI.D3	Sensitivity of OASDI Measures to VaryingNet-Immigration Assumptions

VI.D4	Sensitivity of OASDI Measures to VaryingReal-Wage Assumptions

VI.D5	Sensitivity of OASDI Measures to VaryingCPI-Increase Assumptions

VI.D6	Sensitivity of OASDI Measures to VaryingReal-Interest Assumptions

VI.D7	Sensitivity of OASDI Measures to VaryingDisability Incidence Assumptions

VI.D8	Sensitivity of OASDI Measures to VaryingDisability Termination Assumptions

	E. STOCHASTIC PROJECTIONS AND UNCERTAINTY

VI.E1	Long-Range Estimates Relating to the Actuarial Status ofthe Combined OASDI Program

	F. INFINITE HORIZON PROJECTIONS

VI.F1	Unfunded OASDI Obligations Through the Infinite Horizon,Based on Intermediate Assumptions

VI.F2	Present Values of OASDI Cost Less Non-interest Incomeand Unfunded Obligations for Program Participants,Based on Intermediate Assumptions

	G. ESTIMATES FOR OASDI AND HI,SEPARATE AND COMBINED

VI.G1	Payroll Tax Contribution Rates for the OASDI andHI Programs

VI.G2	OASDI and HI Annual Income Rates, Cost Rates,  and Balances, Calendar Years 2014-90

VI.G3	Summarized OASDI and HI Income Rates and Cost Rates for Valuation Periods, Calendar Years 2014-88

VI.G4	OASDI and HI Annual and Summarized Income, Cost, andBalance as a Percentage of GDP, Calendar Years 2014-90

VI.G5	Ratio of OASDI Taxable Payroll to GDP,Calendar Years 2014-90 

VI.G6	Selected Economic Variables, Calendar Years 2013-90

VI.G7	Operations of the Combined OASI and DI Trust Funds,in CPI-indexed 2014 Dollars, Calendar Years 2014-90

VI.G8	Operations of the Combined OASI and DI Trust Funds, in Current Dollars, Calendar Years 2014-90

VI.G9	OASDI and HI Annual Non-interest Income, Cost, andBalance in Current Dollars, Calendar Years 2014-90

	H. ANALYSIS OF BENEFIT DISBURSEMENTSFROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES

VI.H1	Benefit Disbursements From the OASI Trust FundWith Respect to Disabled Beneficiaries

VI.H2	Benefit Disbursements Under the OASDI ProgramWith Respect to Disabled Beneficiaries

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