| Year         | Proposal | Theoretical Social Security with PAYGO Transfers |
|--------------|----------|--------------------------------------------------|
||
||
||
| 2004         | 1.4      | 65                                               | 63 | 65 | 1.4 | 65 | 63 | 65 |
| 2005         | 1.9      | 89                                               | 82 | 87 | 1.9 | 89 | 82 | 87 |
| 2006         | 2.0      | 99                                               | 87 | 96 | 1.9 | 97 | 85 | 94 |
| 2007         | 2.1      | 110                                              | 91 | 104 | 2.0 | 105 | 87 | 99 |
| 2008         | 2.1      | 118                                              | 93 | 108 | 2.0 | 109 | 86 | 100 |
| 2009         | 2.0      | 118                                              | 88 | 105 | 1.8 | 105 | 78 | 93 |
| 2010         | 2.4      | 147                                              | 104 | 128 | 1.7 | 103 | 73 | 89 |
| 2011         | 2.4      | 153                                              | 102 | 129 | 1.6 | 101 | 67 | 85 |
| 2012         | 2.2      | 152                                              | 96 | 125 | 1.4 | 91 | 58 | 75 |
| 2013         | 2.1      | 148                                              | 89 | 118 | 1.1 | 79 | 47 | 63 |
| 2014         | 1.9      | 143                                              | 81 | 111 | 0.9 | 65 | 37 | 50 |
| 2015         | 1.7      | 135                                              | 72 | 102 | 0.6 | 48 | 25 | 36 |
| 2016         | 1.5      | 124                                              | 63 | 91 | 0.3 | 27 | 14 | 20 |
| 2017         | 1.3      | 111                                              | 53 | 79 | 0.0 | 4 | 2 | 3 |
| 2018         | 1.1      | 95                                               | 43 | 66 | -0.3 | -22 | -10 | -15 |
| 2019         | 0.8      | 77                                               | 33 | 52 | -0.6 | -51 | -22 | -35 |
| 2020         | 0.6      | 55                                               | 22 | 36 | -0.9 | -84 | -34 | -55 |
| 2021         | 0.3      | 32                                               | 12 | 21 | -1.2 | -119 | -45 | -76 |
| 2022         | 0.1      | 8                                                | 3 | 5 | -1.5 | -155 | -56 | -97 |
| 2023         | 0.8      | 94                                               | 32 | 57 | -1.8 | -195 | -66 | -118 |
| 2024         | 0.6      | 72                                               | 23 | 42 | -2.1 | -236 | -76 | -139 |
| 2025         | 0.4      | 47                                               | 14 | 27 | -2.4 | -279 | -85 | -160 |
| 2026         | 0.2      | 22                                               | 6 | 12 | -2.7 | -324 | -93 | -181 |
| 2027         | 0.0      | -3                                               | -1 | -2 | -3.0 | -370 | -100 | -201 |
| 2028         | -0.2     | -28                                              | -7 | -15 | -3.2 | -416 | -106 | -220 |
| 2029         | -0.4     | -52                                              | -13 | -27 | -3.4 | -463 | -112 | -238 |
| 2030         | -0.5     | -76                                              | -17 | -38 | -3.6 | -510 | -116 | -255 |
| 2031         | -0.6     | -100                                             | -21 | -48 | -3.8 | -558 | -120 | -271 |
| 2032         | -0.7     | -122                                             | -25 | -58 | -4.0 | -606 | -123 | -287 |
| 2033         | -0.8     | -143                                             | -27 | -66 | -4.1 | -653 | -125 | -300 |
| 2034         | -0.9     | -161                                             | -29 | -72 | -4.2 | -699 | -127 | -313 |
| 2035         | -0.9     | -178                                             | -30 | -78 | -4.3 | -744 | -127 | -324 |
| 2036         | -1.0     | -193                                             | -31 | -82 | -4.4 | -788 | -127 | -334 |
| 2037         | -1.0     | -205                                             | -31 | -84 | -4.4 | -831 | -127 | -343 |
| 2038         | -1.0     | -214                                             | -31 | -86 | -4.5 | -873 | -126 | -350 |
| 2039         | -1.0     | -222                                             | -30 | -87 | -4.5 | -915 | -124 | -357 |
| 2040         | -1.0     | -232                                             | -30 | -88 | -4.5 | -956 | -123 | -363 |
| 2041         | -1.0     | -242                                             | -29 | -89 | -4.5 | -1,000 | -121 | -369 |
| 2042         | -1.0     | -252                                             | -29 | -91 | -4.5 | -1,045 | -120 | -375 |
| 2043         | -1.0     | -263                                             | -28 | -92 | -4.5 | -1,091 | -118 | -381 |
| 2044         | -1.0     | -279                                             | -28 | -95 | -4.5 | -1,139 | -116 | -387 |
| 2045         | -1.0     | -299                                             | -29 | -99 | -4.5 | -1,189 | -115 | -393 |
| 2046         | -1.0     | -321                                             | -29 | -103 | -4.6 | -1,241 | -113 | -399 |
| 2047         | -1.1     | -344                                             | -30 | -107 | -4.6 | -1,297 | -112 | -405 |
| 2048         | -1.1     | -368                                             | -30 | -112 | -4.6 | -1,355 | -110 | -412 |
| 2049         | -1.1     | -396                                             | -30 | -117 | -4.6 | -1,417 | -109 | -419 |
| 2050         | -1.2     | -429                                             | -31 | -124 | -4.6 | -1,483 | -108 | -427 |
| 2051         | -1.2     | -468                                             | -32 | -131 | -4.6 | -1,555 | -107 | -435 |
| 2052         | -1.3     | -510                                             | -33 | -139 | -4.7 | -1,634 | -106 | -445 |
| 2053         | -1.4     | -556                                             | -34 | -147 | -4.7 | -1,717 | -105 | -455 |
| 2054         | -1.4     | -605                                             | -35 | -156 | -4.8 | -1,805 | -104 | -465 |
| 2055         | -1.5     | -660                                             | -36 | -166 | -4.8 | -1,899 | -104 | -476 |
| 2056         | -1.6     | -720                                             | -37 | -176 | -4.9 | -1,999 | -103 | -487 |
| 2057         | -1.6     | -783                                             | -38 | -186 | -4.9 | -2,104 | -102 | -499 |
| 2058         | -1.7     | -848                                             | -39 | -196 | -5.0 | -2,214 | -102 | -511 |
| 2059         | -1.8     | -916                                             | -40 | -206 | -5.0 | -2,328 | -101 | -522 |
| 2060         | -1.8     | -988                                             | -40 | -216 | -5.1 | -2,447 | -100 | -534 |
| 2061         | -1.9     | -1,065                                           | -41 | -226 | -5.1 | -2,574 | -100 | -547 |
| 2062         | -2.0     | -1,149                                           | -42 | -237 | -5.2 | -2,709 | -99 | -560 |
| 2063         | -2.0     | -1,240                                           | -43 | -249 | -5.2 | -2,854 | -98 | -574 |
| 2064         | -2.1     | -1,333                                           | -43 | -261 | -5.3 | -3,003 | -98 | -587 |
| 2065         | -2.1     | -1,427                                           | -44 | -271 | -5.3 | -3,157 | -97 | -600 |
| 2066         | -2.2     | -1,528                                           | -44 | -283 | -5.4 | -3,319 | -96 | -614 |
| 2067         | -2.3     | -1,633                                           | -45 | -294 | -5.4 | -3,489 | -96 | -628 |
| 2068         | -2.3     | -1,741                                           | -45 | -305 | -5.5 | -3,665 | -95 | -641 |
| 2069         | -2.4     | -1,853                                           | -45 | -316 | -5.5 | -3,847 | -94 | -655 |
| 2070         | -2.4     | -1,968                                           | -46 | -326 | -5.6 | -4,037 | -93 | -669 |
| 2071         | -2.5     | -2,088                                           | -46 | -336 | -5.6 | -4,235 | -92 | -682 |
| 2072         | -2.5     | -2,214                                           | -46 | -347 | -5.7 | -4,442 | -92 | -696 |
| 2073         | -2.6     | -2,347                                           | -46 | -358 | -5.7 | -4,660 | -91 | -710 |
| 2074         | -2.6     | -2,488                                           | -46 | -369 | -5.7 | -4,888 | -90 | -725 |
| 2075         | -2.6     | -2,633                                           | -46 | -380 | -5.8 | -5,127 | -89 | -740 |
| 2076         | -2.7     | -2,786                                           | -46 | -391 | -5.8 | -5,377 | -88 | -755 |
| 2077         | -2.7     | -2,947                                           | -46 | -402 | -5.9 | -5,640 | -87 | -770 |
| 2078         | -2.8     | -3,117                                           | -46 | -414 | -5.9 | -5,915 | -87 | -785 |
| 2079         | -2.8     | -3,296                                           | -46 | -426 | -6.0 | -6,203 | -86 | -801 |
| Total2004-78 |     |                                             | -435 |   |   |   | -5,225 |   |
| 1Equals net investment in special Treasury Bonds by the Trust Funds less the Amount of General Fund transfers specified in the  theoretical plan (PAYGO Transfers).

2**Present Value discount at Treasury Bond yield** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Office of the Chief ActuarySocial Security AdministrationFebruary 13, 2005

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