| Average IA Contribution = 5.1% Benefit Offset 100.0% UltimateWith Ultimate Real Trust Fund Interest Rate  3.0With Ultimate Real IA Net Yield Rate of: 5.025With Offset Annuity Net Yield Rate of: 5.025 |
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| 2004                                                                                                                                                                                                    | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| 2005                                                                                                                                                                                                    | 206.7 | 198.7 | 0.0 | 0.0 | -198.7 | 204.7 | -204.7 |
| 2006                                                                                                                                                                                                    | 442.4 | 216.2 | 0.0 | 0.0 | -216.2 | 434.0 | -235.1 |
| 2007                                                                                                                                                                                                    | 699.7 | 225.3 | 0.0 | 0.0 | -225.3 | 679.8 | -258.5 |
| 2008                                                                                                                                                                                                    | 979.5 | 234.1 | 0.0 | 0.0 | -234.1 | 942.4 | -282.4 |
| 2009                                                                                                                                                                                                    | 1,282.3 | 242.5 | 0.0 | 0.0 | -242.5 | 1,221.7 | -306.8 |
| 2010                                                                                                                                                                                                    | 1,609.0 | 250.6 | 0.0 | 0.0 | -250.6 | 1,518.0 | -331.7 |
| 2011                                                                                                                                                                                                    | 1,959.1 | 257.6 | 0.2 | 0.0 | -257.4 | 1,830.1 | -356.3 |
| 2012                                                                                                                                                                                                    | 2,331.0 | 264.0 | 2.5 | 0.0 | -261.6 | 2,155.7 | -379.0 |
| 2013                                                                                                                                                                                                    | 2,725.4 | 270.4 | 5.2 | 0.0 | -265.2 | 2,494.8 | -401.9 |
| 2014                                                                                                                                                                                                    | 3,142.2 | 276.4 | 8.5 | 0.0 | -267.9 | 2,846.7 | -424.6 |
| 2015                                                                                                                                                                                                    | 3,581.7 | 282.2 | 12.4 | 0.0 | -269.8 | 3,210.9 | -447.1 |
| 2016                                                                                                                                                                                                    | 4,043.4 | 287.2 | 16.8 | 0.0 | -270.4 | 3,586.2 | -468.8 |
| 2017                                                                                                                                                                                                    | 4,527.5 | 292.1 | 22.0 | 0.0 | -270.1 | 3,972.0 | -490.3 |
| 2018                                                                                                                                                                                                    | 5,034.8 | 296.8 | 27.8 | 0.0 | -269.0 | 4,368.2 | -511.9 |
| 2019                                                                                                                                                                                                    | 5,565.7 | 301.5 | 34.3 | 0.0 | -267.2 | 4,774.4 | -533.4 |
| 2020                                                                                                                                                                                                    | 6,120.4 | 306.2 | 41.7 | 0.0 | -264.5 | 5,190.0 | -554.7 |
| 2021                                                                                                                                                                                                    | 6,699.3 | 310.8 | 49.9 | 0.0 | -260.9 | 5,614.4 | -575.6 |
| 2022                                                                                                                                                                                                    | 7,302.5 | 315.4 | 59.1 | 0.0 | -256.3 | 6,046.9 | -596.0 |
| 2023                                                                                                                                                                                                    | 7,930.4 | 320.1 | 69.2 | 0.0 | -250.9 | 6,486.7 | -615.9 |
| 2024                                                                                                                                                                                                    | 8,583.1 | 324.7 | 80.3 | 0.0 | -244.4 | 6,933.0 | -635.2 |
| 2025                                                                                                                                                                                                    | 9,260.6 | 329.3 | 92.3 | 0.0 | -237.1 | 7,385.2 | -654.1 |
| 2026                                                                                                                                                                                                    | 9,963.2 | 334.0 | 105.3 | 0.0 | -228.7 | 7,842.3 | -672.2 |
| 2027                                                                                                                                                                                                    | 10,690.8 | 338.7 | 119.5 | 0.0 | -219.3 | 8,303.4 | -689.5 |
| 2028                                                                                                                                                                                                    | 11,443.4 | 343.6 | 134.9 | 0.0 | -208.7 | 8,767.5 | -705.9 |
| 2029                                                                                                                                                                                                    | 12,221.0 | 348.5 | 151.6 | 0.0 | -196.9 | 9,233.3 | -721.2 |
| 2030                                                                                                                                                                                                    | 13,023.5 | 353.5 | 169.5 | 0.0 | -183.9 | 9,699.8 | -735.4 |
| 2031                                                                                                                                                                                                    | 13,850.8 | 358.6 | 188.9 | 0.0 | -169.7 | 10,165.6 | -748.3 |
| 2032                                                                                                                                                                                                    | 14,702.4 | 363.8 | 209.7 | 0.0 | -154.1 | 10,629.3 | -759.8 |
| 2033                                                                                                                                                                                                    | 15,578.2 | 369.1 | 231.9 | 0.0 | -137.2 | 11,089.5 | -769.7 |
| 2034                                                                                                                                                                                                    | 16,477.6 | 374.5 | 255.7 | 0.0 | -118.7 | 11,544.4 | -777.9 |
| 2035                                                                                                                                                                                                    | 17,400.0 | 379.9 | 279.1 | 0.0 | -100.7 | 11,994.5 | -786.3 |
| 2036                                                                                                                                                                                                    | 18,344.8 | 385.3 | 303.9 | 0.0 | -81.4 | 12,438.2 | -793.1 |
| 2037                                                                                                                                                                                                    | 19,311.2 | 390.8 | 330.0 | 0.0 | -60.9 | 12,874.0 | -798.1 |
| 2038                                                                                                                                                                                                    | 20,298.3 | 396.4 | 357.4 | 0.0 | -39.0 | 13,300.4 | -801.3 |
| 2039                                                                                                                                                                                                    | 21,305.1 | 402.0 | 386.4 | 0.0 | -15.7 | 13,715.5 | -802.5 |
| 2040                                                                                                                                                                                                    | 22,330.4 | 407.7 | 416.7 | 0.0 | 9.1 | 14,117.7 | -801.6 |
| 2041                                                                                                                                                                                                    | 23,372.8 | 413.3 | 448.6 | 0.0 | 35.3 | 14,504.9 | -798.4 |
| 2042                                                                                                                                                                                                    | 24,430.9 | 419.1 | 482.0 | 0.0 | 62.9 | 14,875.2 | -792.8 |
| 2043                                                                                                                                                                                                    | 25,502.9 | 424.8 | 517.0 | 0.0 | 92.2 | 15,226.5 | -784.6 |
| 2044                                                                                                                                                                                                    | 26,587.0 | 430.6 | 553.6 | 0.0 | 123.0 | 15,556.7 | -773.6 |
| 2045                                                                                                                                                                                                    | 27,681.2 | 436.5 | 590.0 | 0.0 | 153.5 | 15,865.3 | -761.7 |
| 2046                                                                                                                                                                                                    | 28,785.0 | 442.3 | 625.9 | 0.0 | 183.6 | 16,152.1 | -748.9 |
| 2047                                                                                                                                                                                                    | 29,896.3 | 448.2 | 663.2 | 0.0 | 215.0 | 16,415.3 | -733.6 |
| 2048                                                                                                                                                                                                    | 31,012.4 | 454.1 | 701.8 | 0.0 | 247.7 | 16,652.6 | -715.4 |
| 2049                                                                                                                                                                                                    | 32,126.1 | 460.1 | 745.4 | 0.0 | 285.3 | 16,858.3 | -690.8 |
| 2050                                                                                                                                                                                                    | 33,235.8 | 466.2 | 789.0 | 0.0 | 322.8 | 17,031.6 | -664.3 |
| 2051                                                                                                                                                                                                    | 34,341.6 | 472.2 | 830.8 | 0.0 | 358.6 | 17,173.2 | -637.7 |
| 2052                                                                                                                                                                                                    | 35,442.1 | 478.4 | 872.4 | 0.0 | 394.0 | 17,282.6 | -609.6 |
| 2053                                                                                                                                                                                                    | 36,546.5 | 484.7 | 905.3 | 0.0 | 420.6 | 17,367.8 | -588.6 |
| 2054                                                                                                                                                                                                    | 37,654.4 | 491.0 | 937.4 | 0.0 | 446.4 | 17,429.0 | -567.1 |
| 2055                                                                                                                                                                                                    | 38,765.9 | 497.4 | 974.1 | 0.0 | 476.7 | 17,460.9 | -539.5 |
| 2056                                                                                                                                                                                                    | 39,881.0 | 504.0 | 1,010.2 | 0.0 | 506.2 | 17,463.4 | -511.0 |
| 2057                                                                                                                                                                                                    | 40,999.7 | 510.6 | 1,045.6 | 0.0 | 535.0 | 17,436.3 | -481.5 |
| 2058                                                                                                                                                                                                    | 42,122.5 | 517.4 | 1,080.2 | 0.0 | 562.8 | 17,379.6 | -451.2 |
| 2059                                                                                                                                                                                                    | 43,249.5 | 524.2 | 1,113.9 | 0.0 | 589.7 | 17,293.6 | -420.2 |
| 2060                                                                                                                                                                                                    | 44,381.5 | 531.1 | 1,146.7 | 0.0 | 615.6 | 17,178.4 | -388.5 |
| 2061                                                                                                                                                                                                    | 45,518.9 | 538.1 | 1,178.4 | 0.0 | 640.3 | 17,034.3 | -356.2 |
| 2062                                                                                                                                                                                                    | 46,662.6 | 545.2 | 1,209.0 | 0.0 | 663.8 | 16,861.5 | -323.4 |
| 2063                                                                                                                                                                                                    | 47,813.5 | 552.3 | 1,238.4 | 0.0 | 686.1 | 16,660.7 | -290.3 |
| 2064                                                                                                                                                                                                    | 48,972.8 | 559.6 | 1,266.6 | 0.0 | 707.0 | 16,432.3 | -256.8 |
| 2065                                                                                                                                                                                                    | 50,141.7 | 566.9 | 1,301.8 | 0.0 | 734.9 | 16,168.3 | -214.6 |
| 2066                                                                                                                                                                                                    | 51,321.6 | 574.3 | 1,336.2 | 0.0 | 761.9 | 15,868.6 | -171.2 |
| 2067                                                                                                                                                                                                    | 52,514.0 | 581.7 | 1,369.6 | 0.0 | 787.8 | 15,533.2 | -126.8 |
| 2068                                                                                                                                                                                                    | 53,720.8 | 589.3 | 1,402.0 | 0.0 | 812.7 | 15,162.1 | -81.3 |
| 2069                                                                                                                                                                                                    | 54,943.8 | 596.9 | 1,433.5 | 0.0 | 836.6 | 14,755.2 | -34.8 |
| 2070                                                                                                                                                                                                    | 56,184.9 | 604.6 | 1,464.0 | 0.0 | 859.4 | 14,312.7 | 12.7 |
| 2071                                                                                                                                                                                                    | 57,446.2 | 612.4 | 1,493.5 | 0.0 | 881.1 | 13,834.6 | 61.3 |
| 2072                                                                                                                                                                                                    | 58,729.9 | 620.2 | 1,522.0 | 0.0 | 901.7 | 13,320.8 | 110.8 |
| 2073                                                                                                                                                                                                    | 60,038.5 | 628.2 | 1,549.5 | 0.0 | 921.3 | 12,771.5 | 161.4 |
| 2074                                                                                                                                                                                                    | 61,374.1 | 636.2 | 1,576.1 | 0.0 | 939.9 | 12,186.5 | 213.0 |
| 2075                                                                                                                                                                                                    | 62,739.2 | 644.3 | 1,601.8 | 0.0 | 957.5 | 11,565.8 | 265.7 |
| 2076                                                                                                                                                                                                    | 64,136.4 | 652.5 | 1,626.7 | 0.0 | 974.2 | 10,909.3 | 319.6 |
| 2077                                                                                                                                                                                                    | 65,568.1 | 660.7 | 1,650.9 | 0.0 | 990.1 | 10,216.8 | 374.8 |
| 2078                                                                                                                                                                                                    | 67,036.8 | 669.2 | 1,674.4 | 0.0 | 1,005.3 | 9,487.8 | 431.4 |
| 1 Including Social Security Transition Bonds.Based on Intermediate Assumptions of the 2003 Trustees Report.                                                                                             |
|                                                                                                                                                                                                    | Office of the Chief ActuarySocial Security AdministrationSeptember 9, 2003 |

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