| Phased ParticipationNo Taxation of Recognition Bond or Individual Account DistributionsIndividual Account Contribution Rate: 6.2%Benefit Offset: 0.0%Ultimate Real Trust Fund Interest Rate of 3.00Ultimate Real IA Yield Rate of 2.70Annuity Net Real Yield Rate of 2.70 |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
||
| 2004                                                                                                                                                                                                                                                                      | 11.07 | 12.71 | 1.64 | 306 |   |   | 12.40 |   | 0.00 |
| 2005                                                                                                                                                                                                                                                                      | 10.87 | 8.72 | -2.15 | 325 | 0.00 | -4.005 | 8.40 |   | 4.00 |
| 2006                                                                                                                                                                                                                                                                      | 10.77 | 8.36 | -2.41 | 310 | 0.00 | -0.373 | 8.02 |   | 4.38 |
| 2007                                                                                                                                                                                                                                                                      | 10.75 | 8.23 | -2.51 | 290 | 0.00 | -0.142 | 7.88 |   | 4.52 |
| 2008                                                                                                                                                                                                                                                                      | 10.80 | 8.14 | -2.65 | 267 | 0.00 | -0.127 | 7.75 |   | 4.65 |
| 2009                                                                                                                                                                                                                                                                      | 10.95 | 8.01 | -2.94 | 241 | 0.00 | -0.125 | 7.63 |   | 4.77 |
| 2010                                                                                                                                                                                                                                                                      | 11.08 | 7.91 | -3.18 | 214 | 0.00 | -0.122 | 7.51 |   | 4.89 |
| 2011                                                                                                                                                                                                                                                                      | 11.25 | 7.83 | -3.41 | 184 | 0.00 | -0.126 | 7.38 |   | 5.02 |
| 2012                                                                                                                                                                                                                                                                      | 11.43 | 7.75 | -3.68 | 154 | 0.00 | -0.110 | 7.27 |   | 5.13 |
| 2013                                                                                                                                                                                                                                                                      | 11.67 | 9.18 | -2.50 | 121 | 0.00 | 1.403 | 8.67 | 1.5 | 5.23 |
| 2014                                                                                                                                                                                                                                                                      | 11.89 | 11.98 | 0.09 | 100 | 0.00 | 2.787 | 11.46 | 4.4 | 5.34 |
| 2015                                                                                                                                                                                                                                                                      | 12.13 | 12.21 | 0.08 | 100 | 0.01 | 0.212 | 11.67 | 4.7 | 5.43 |
| 2016                                                                                                                                                                                                                                                                      | 13.12 | 13.03 | -0.09 | 100 | 0.01 | 0.809 | 12.48 | 5.6 | 5.53 |
| 2017                                                                                                                                                                                                                                                                      | 13.77 | 13.65 | -0.12 | 100 | 0.01 | 0.618 | 13.10 | 6.3 | 5.61 |
| 2018                                                                                                                                                                                                                                                                      | 14.41 | 14.28 | -0.13 | 100 | 0.01 | 0.624 | 13.72 | 7.0 | 5.69 |
| 2019                                                                                                                                                                                                                                                                      | 15.03 | 14.82 | -0.21 | 100 | 0.01 | 0.537 | 14.26 | 7.6 | 5.75 |
| 2020                                                                                                                                                                                                                                                                      | 15.59 | 15.37 | -0.23 | 100 | 0.01 | 0.541 | 14.80 | 8.2 | 5.81 |
| 2021                                                                                                                                                                                                                                                                      | 15.55 | 15.25 | -0.30 | 100 | 0.02 | -0.120 | 14.68 | 8.1 | 5.88 |
| 2022                                                                                                                                                                                                                                                                      | 15.81 | 15.45 | -0.36 | 100 | 0.02 | 0.208 | 14.89 | 8.4 | 5.93 |
| 2023                                                                                                                                                                                                                                                                      | 16.00 | 15.70 | -0.30 | 100 | 0.02 | 0.257 | 15.15 | 8.7 | 5.97 |
| 2024                                                                                                                                                                                                                                                                      | 16.06 | 15.65 | -0.41 | 100 | 0.02 | -0.039 | 15.11 | 8.7 | 6.02 |
| 2025                                                                                                                                                                                                                                                                      | 16.02 | 15.52 | -0.51 | 100 | 0.02 | -0.129 | 14.98 | 8.6 | 6.05 |
| 2026                                                                                                                                                                                                                                                                      | 15.99 | 15.37 | -0.62 | 100 | 0.03 | -0.128 | 14.85 | 8.5 | 6.08 |
| 2027                                                                                                                                                                                                                                                                      | 16.95 | 16.43 | -0.51 | 100 | 0.03 | 1.077 | 15.93 | 9.6 | 6.10 |
| 2028                                                                                                                                                                                                                                                                      | 17.07 | 16.50 | -0.57 | 100 | 0.03 | 0.084 | 16.01 | 9.7 | 6.12 |
| 2029                                                                                                                                                                                                                                                                      | 16.96 | 16.37 | -0.59 | 100 | 0.04 | -0.113 | 15.90 | 9.6 | 6.14 |
| 2030                                                                                                                                                                                                                                                                      | 16.76 | 16.14 | -0.62 | 100 | 0.04 | -0.209 | 15.69 | 9.4 | 6.15 |
| 2031                                                                                                                                                                                                                                                                      | 16.65 | 16.11 | -0.53 | 100 | 0.04 | -0.006 | 15.68 | 9.4 | 6.16 |
| 2032                                                                                                                                                                                                                                                                      | 15.76 | 15.19 | -0.58 | 100 | 0.04 | -0.903 | 14.78 | 8.5 | 6.16 |
| 2033                                                                                                                                                                                                                                                                      | 14.97 | 14.40 | -0.57 | 100 | 0.05 | -0.762 | 14.02 | 7.7 | 6.17 |
| 2034                                                                                                                                                                                                                                                                      | 14.18 | 13.64 | -0.54 | 100 | 0.05 | -0.742 | 13.28 | 7.0 | 6.17 |
| 2035                                                                                                                                                                                                                                                                      | 13.44 | 13.02 | -0.42 | 100 | 0.05 | -0.602 | 12.67 | 6.4 | 6.18 |
| 2036                                                                                                                                                                                                                                                                      | 12.72 | 12.20 | -0.53 | 100 | 0.06 | -0.804 | 11.87 | 5.6 | 6.19 |
| 2037                                                                                                                                                                                                                                                                      | 11.98 | 11.50 | -0.48 | 100 | 0.06 | -0.673 | 11.20 | 4.9 | 6.19 |
| 2038                                                                                                                                                                                                                                                                      | 11.27 | 10.85 | -0.41 | 100 | 0.07 | -0.632 | 10.57 | 4.3 | 6.20 |
| 2039                                                                                                                                                                                                                                                                      | 10.55 | 10.14 | -0.41 | 100 | 0.07 | -0.696 | 9.87 | 3.6 | 6.20 |
| 2040                                                                                                                                                                                                                                                                      | 9.87 | 9.49 | -0.38 | 100 | 0.07 | -0.636 | 9.23 | 3.0 | 6.20 |
| 2041                                                                                                                                                                                                                                                                      | 9.21 | 8.85 | -0.36 | 100 | 0.08 | -0.626 | 8.61 | 2.3 | 6.20 |
| 2042                                                                                                                                                                                                                                                                      | 8.58 | 8.28 | -0.30 | 100 | 0.08 | -0.556 | 8.05 | 1.8 | 6.20 |
| 2043                                                                                                                                                                                                                                                                      | 8.00 | 7.66 | -0.34 | 100 | 0.09 | -0.606 | 7.45 | 1.2 | 6.20 |
| 2044                                                                                                                                                                                                                                                                      | 7.45 | 7.09 | -0.37 | 100 | 0.09 | -0.556 | 6.89 | 0.6 | 6.20 |
| 2045                                                                                                                                                                                                                                                                      | 6.84 | 6.58 | -0.26 | 100 | 0.10 | -0.495 | 6.40 | 0.1 | 6.20 |
| 2046                                                                                                                                                                                                                                                                      | 6.34 | 6.47 | 0.13 | 100 | 0.10 | -0.095 | 6.30 |   | 6.20 |
| 2047                                                                                                                                                                                                                                                                      | 5.87 | 6.47 | 0.60 | 108 | 0.10 | 0.004 | 6.30 |   | 6.20 |
| 2048                                                                                                                                                                                                                                                                      | 5.43 | 6.46 | 1.03 | 127 | 0.11 | 0.004 | 6.31 |   | 6.20 |
| 2049                                                                                                                                                                                                                                                                      | 5.03 | 6.46 | 1.44 | 156 | 0.11 | 0.004 | 6.31 |   | 6.20 |
| 2050                                                                                                                                                                                                                                                                      | 3.99 | 6.46 | 2.47 | 199 | 0.12 | 0.004 | 6.32 |   | 6.20 |
| 2051                                                                                                                                                                                                                                                                      | 3.89 | 6.46 | 2.57 | 270 | 0.12 | 0.004 | 6.32 |   | 6.20 |
| 2052                                                                                                                                                                                                                                                                      | 3.80 | 6.46 | 2.66 | 347 | 0.12 | 0.004 | 6.32 |   | 6.20 |
| 2053                                                                                                                                                                                                                                                                      | 3.73 | 6.46 | 2.73 | 430 | 0.13 | 0.003 | 6.33 |   | 6.20 |
| 2054                                                                                                                                                                                                                                                                      | 3.67 | 6.46 | 2.79 | 518 | 0.13 | 0.003 | 6.33 |   | 6.20 |
| 2055                                                                                                                                                                                                                                                                      | 3.62 | 6.46 | 2.84 | 610 | 0.13 | 0.003 | 6.33 |   | 6.20 |
| 2056                                                                                                                                                                                                                                                                      | 3.58 | 6.46 | 2.88 | 705 | 0.13 | 0.002 | 6.33 |   | 6.20 |
| 2057                                                                                                                                                                                                                                                                      | 3.54 | 6.46 | 2.92 | 805 | 0.14 | 0.002 | 6.34 |   | 6.20 |
| 2058                                                                                                                                                                                                                                                                      | 3.51 | 6.46 | 2.95 | 908 | 0.14 | 0.002 | 6.34 |   | 6.20 |
| 2059                                                                                                                                                                                                                                                                      | 3.48 | 6.46 | 2.98 | 1,014 | 0.14 | 0.001 | 6.34 |   | 6.20 |
| 2060                                                                                                                                                                                                                                                                      | 3.43 | 6.46 | 3.02 | 1,130 | 0.14 | 0.001 | 6.34 |   | 6.20 |
| 2061                                                                                                                                                                                                                                                                      | 3.43 | 6.46 | 3.03 | 1,238 | 0.14 | 0.000 | 6.34 |   | 6.20 |
| 2062                                                                                                                                                                                                                                                                      | 3.42 | 6.46 | 3.03 | 1,347 | 0.14 | 0.000 | 6.34 |   | 6.20 |
| 2063                                                                                                                                                                                                                                                                      | 3.42 | 6.46 | 3.03 | 1,458 | 0.14 | -0.001 | 6.34 |   | 6.20 |
| 2064                                                                                                                                                                                                                                                                      | 3.42 | 6.46 | 3.03 | 1,570 | 0.14 | -0.001 | 6.34 |   | 6.20 |
| 2065                                                                                                                                                                                                                                                                      | 3.42 | 6.45 | 3.03 | 1,684 | 0.14 | -0.002 | 6.34 |   | 6.20 |
| 2066                                                                                                                                                                                                                                                                      | 3.42 | 6.45 | 3.03 | 1,800 | 0.14 | -0.002 | 6.34 |   | 6.20 |
| 2067                                                                                                                                                                                                                                                                      | 3.42 | 6.45 | 3.03 | 1,921 | 0.13 | -0.002 | 6.33 |   | 6.20 |
| 2068                                                                                                                                                                                                                                                                      | 3.41 | 6.45 | 3.04 | 2,046 | 0.13 | -0.003 | 6.33 |   | 6.20 |
| 2069                                                                                                                                                                                                                                                                      | 3.40 | 6.44 | 3.05 | 2,172 | 0.13 | -0.003 | 6.33 |   | 6.20 |
| 2070                                                                                                                                                                                                                                                                      | 3.40 | 6.44 | 3.04 | 2,299 | 0.12 | -0.003 | 6.32 |   | 6.20 |
| 2071                                                                                                                                                                                                                                                                      | 3.39 | 6.44 | 3.04 | 2,428 | 0.12 | -0.003 | 6.32 |   | 6.20 |
| 2072                                                                                                                                                                                                                                                                      | 3.39 | 6.43 | 3.04 | 2,560 | 0.12 | -0.004 | 6.32 |   | 6.20 |
| 2073                                                                                                                                                                                                                                                                      | 3.39 | 6.43 | 3.04 | 2,694 | 0.11 | -0.004 | 6.31 |   | 6.20 |
| 2074                                                                                                                                                                                                                                                                      | 3.38 | 6.43 | 3.04 | 2,831 | 0.11 | -0.004 | 6.31 |   | 6.20 |
| 2075                                                                                                                                                                                                                                                                      | 3.38 | 6.42 | 3.04 | 2,971 | 0.11 | -0.004 | 6.31 |   | 6.20 |
| 2076                                                                                                                                                                                                                                                                      | 3.37 | 6.42 | 3.04 | 3,114 | 0.10 | -0.004 | 6.30 |   | 6.20 |
| 2077                                                                                                                                                                                                                                                                      | 3.37 | 6.41 | 3.04 | 3,259 | 0.10 | -0.004 | 6.30 |   | 6.20 |
| 2078                                                                                                                                                                                                                                                                      | 3.36 | 6.41 | 3.04 | 3,409 | 0.09 | -0.004 | 6.29 |   | 6.20 |
| 2079                                                                                                                                                                                                                                                                      | 3.36 | 6.40 | 3.04 | 3,561 | 0.09 | -0.004 | 6.29 |   | 6.20 |
| 2004 - 2078                                                                                                                                                                                                                                                               | Summarized OASDI |   |
| Cost Rate                                                                                                                                                                                                                                                                 | Income Rate | ActuarialBalance | Change inActuarialBalance |
| 10.21                                                                                                                                                                                                                                                                     | 11.03 | 0.82 | 2.70 |
| 1TFR computed as TF assets divided by annual cost excluding RB payments. |
|--------------------------------------------------------------------------|

Based on Intermediate Assumptions of the 2004 Trustees Report With Ultimate Real Trust Fund Interest Rate of 3.00

Office of the Chief ActuarySocial Security AdministrationFebruary 11, 2005

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