## The 2020 OASDI Trustees Report

Office of the Chief Actuary

Actuarial Publications

- Table of Contents
- List of Tables
- List of Figures
- Index       LIST OF TABLESII. OVERVIEW  II.B1	Summary of 2019 Trust Fund Financial Operations  II.B2	Payroll Tax Contribution Rates for 2019  II.C1	Key Assumptions and Summary Measures for the Long-Range (75-year) Projection 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 AssumptionsIII. FINANCIAL OPERATIONS OF THE TRUST FUNDS AND LEGISLATIVE CHANGES IN THE LAST YEAR  III.A1	Operations of the OASI Trust Fund, Calendar Year 2019  III.A2	Operations of the DI Trust Fund, Calendar Year 2019  III.A3	Operations of the Combined OASI and DI Trust Funds, Calendar Year 2019  III.A4	Comparison of Actual Calendar Year 2019 Trust Fund Operations With Estimates Made in Prior Reports, Based on Intermediate Assumptions   III.A5	Distribution of Benefit Payments by Type of Beneficiary or Payment, Calendar Years 2018 and 2019  III.A6	Administrative Expenses as a Percentage of Total Income and of Total Cost, Calendar Years 2015-2019  III.A7	Trust Fund Investment Transactions, Calendar Year 2019IV. ACTUARIAL ESTIMATES  IV.A1	Operations of the OASI Trust Fund, Calendar Years 2015-2029  IV.A2	Operations of the DI Trust Fund, Calendar Years 2015-2029  IV.A3	Operations of the Combined OASI and DI Trust Funds, Calendar Years 2015-2029  IV.A4	Reasons for Change in Trust Fund (Unfunded Obligation) Ratios at the Beginning of the Tenth Year of Projection Under Intermediate Assumptions  IV.B1	Annual Income Rates, Cost Rates, and Balances, Calendar Years 1990-2095  IV.B2	Components of Annual Income Rates, Calendar Years 1990-2095  IV.B3	Covered Workers and Beneficiaries, Calendar Years 1945-2095   IV.B4	Trust Fund Ratios, Calendar Years 2020-2095  IV.B5	Components of Summarized Income Rates and Cost Rates, Calendar Years 2020-2094  IV.B6	Components of 75-Year Actuarial Balance and Unfunded Obligation Under Intermediate Assumptions  IV.B7	Reasons for Change in the 75-Year Actuarial Balance, Based on Intermediate AssumptionsV. ASSUMPTIONS AND METHODS UNDERLYING ACTUARIAL ESTIMATES  V.A1	Fertility and Mortality Assumptions, Calendar Years 1940-2095   V.A2	Immigration Assumptions, Calendar Years 1940-2095   V.A3	Social Security Area Population on July 1 and Dependency Ratios, Calendar Years 1945-2095  V.A4	Period Life Expectancy   V.A5	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 Retirement Earnings Test Exempt Amounts, 1975-2029  V.C2	Values for Selected Wage-Indexed Program Parameters, Calendar Years 1978-2029  V.C3	Legislated Changes in Normal Retirement Age and Delayed Retirement Credits for Persons Attaining Age 62 in Each Year 1986 and Later  V.C4	OASI Beneficiaries With Benefits in Current-Payment Status at the End of Calendar Years 1945-2095  V.C5	DI Beneficiaries With Benefits in Current-Payment Status at the End of Calendar Years 1960-2095  V.C6	Contribution and Benefit Base and Payroll Tax Contribution Rates  V.C7	Annual Scheduled Benefit Amounts for Retired Workers With Various Pre-Retirement Earnings Patterns Based on Intermediate Assumptions, Calendar Years 2020-2095VI. APPENDICESA. HISTORY OF OASI AND DI TRUST FUND OPERATIONS  VI.A1	Operations of the OASI Trust Fund, Calendar Years 1937-2019  VI.A2	Operations of the DI Trust Fund, Calendar Years 1957-2019  VI.A3	Operations of the Combined OASI and DI Trust Funds, Calendar Years 1957-2019  VI.A4	OASI Trust Fund Asset Reserves, End of Calendar Years 2018 and 2019  VI.A5	DI Trust Fund Asset Reserves, End of Calendar Years 2018 and 2019B. HISTORY OF ACTUARIAL STATUS ESTIMATES  VI.B1	Long-Range OASDI Actuarial Balances  and Trust Fund Reserve Depletion Dates as Shown in the Trustees Reports for 1982-2020 under Intermediate AssumptionsC. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2029  VI.C1	Operations of the OASI Trust Fund, Fiscal Year 2019  VI.C2	Operations of the DI Trust Fund, Fiscal Year 2019  VI.C3	Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2019  VI.C4	Operations of the OASI Trust Fund, Fiscal Years 2015-2029  VI.C5	Operations of the DI Trust Fund, Fiscal Years 2015-2029  VI.C6	Operations of the Combined OASI and DI Trust Funds, Fiscal Years 2015-2029D. LONG-RANGE SENSITIVITY ANALYSIS  VI.D1	Sensitivity of OASDI Measures to Fertility Assumptions  VI.D2	Sensitivity of OASDI Measures to Death-Rate Assumptions  VI.D3	Sensitivity of OASDI Measures to Total Net Immigration Assumptions  VI.D4	Sensitivity of OASDI Measures to Real-Wage Assumptions  VI.D5	Sensitivity of OASDI Measures to CPI-Increase Assumptions  VI.D6	Sensitivity of OASDI Measures to Real-Interest Assumptions  VI.D7	Sensitivity of OASDI Measures to Taxable Ratio Assumptions  VI.D8	Sensitivity of OASDI Measures to Disability Incidence Assumptions  VI.D9	Sensitivity of OASDI Measures to Disability Termination AssumptionsE. STOCHASTIC PROJECTIONS AND UNCERTAINTY  VI.E1	Long-Range Estimates Relating to the Actuarial Status of the Combined OASDI ProgramF. INFINITE HORIZON PROJECTIONS  VI.F1	Unfunded OASDI Obligations Through the Infinite Horizon and the 75-Year Projection Period, Based on Intermediate Assumptions  VI.F2	Present Values Through the Infinite Horizon for Various Categories of Program Participants, Based on Intermediate AssumptionsG. ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED  VI.G1	Payroll Tax Contribution Rates for the OASDI and HI Programs  VI.G2	OASDI and HI Annual Income Rates, Cost Rates, and Balances, Calendar Years 2020-2095  VI.G3	Summarized OASDI and HI Income Rates and Cost Rates for Valuation Periods, Calendar Years 2020-2094  VI.G4	OASDI and HI Annual and Summarized Income, Cost, and Balance as a Percentage of GDP, Calendar Years 2020-2095>  VI.G5	Ratio of OASDI Taxable Payroll to GDP, Calendar Years 2020-2095   VI.G6	Selected Economic Variables, Calendar Years 2019-2095  VI.G7	Operations of the Combined OASI and DI Trust Funds, in CPI-indexed 2020 Dollars, Calendar Years 2020-2095  VI.G8	Operations of the Combined OASI and DI Trust Funds, in Current Dollars, Calendar Years 2020-2095  VI.G9	OASDI and HI Annual Non-interest Income, Cost, and Balance in CPI-Indexed 2020 Dollars, Calendar Years 2020-2095  VI.G10	OASDI and HI Annual Non-interest Income, Cost, and Balance in Current Dollars, Calendar Years 2020-2095H. ANALYSIS OF BENEFIT PAYMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES  VI.H1	Scheduled Benefit Payments From the OASI Trust Fund With Respect to Disabled Beneficiaries  VI.H2	Scheduled Benefit Payments Under the OASDI Program With Respect to Disabled Beneficiaries       Footer menu