774 Series Bf442–460 Bf SOCIAL INSURANCE AND PUBLIC ASSISTANCE TABLE Bf442–460 Old-Age, Survivors <strong>Insurance</strong> trust fund – receipts, expenditures, <strong>and</strong> assets: 1937–1998 Continued Receipts Old-Age <strong>and</strong> Survivors <strong>Insurance</strong> Trust Fund Expenditures Payments from the Transfers to general fund Railroad Net Taxation of of the Benefit Administrative Retirement Total contributions benefits Treasury Net interest Total payments expenses program Bf442 Bf443 Bf444 Bf445 Bf446 Bf447 Bf448 Bf449 Bf450 Year Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars 1985 184,239 176,958 3,208 2,203 1,871 171,150 167,248 1,592 2,310 1986 197,394 190,741 3,424 160 3,069 181,000 176,813 1,601 2,585 1987 210,737 202,735 3,257 55 4,690 187,668 183,587 1,524 2,557 1988 240,770 229,775 3,384 43 7,568 200,020 195,454 1,776 2,790 1989 264,653 250,195 2,439 34 11,985 212,489 207,971 1,673 2,845 1990 286,652 267,530 4,848 −2,089 16,363 227,519 222,987 1,563 2,969 1991 299,286 272,574 5,864 19 20,829 245,634 240,467 1,792 3,375 1992 311,161 280,992 5,852 14 24,303 259,861 254,883 1,830 3,148 1993 323,277 290,905 5,335 10 27,027 273,104 267,755 1,996 3,353 1994 328,271 293,323 4,995 7 29,946 284,133 279,068 1,645 3,420 1995 342,801 304,620 5,490 −129 32,820 297,760 291,630 2,077 4,052 1996 363,741 321,557 6,471 7 35,706 308,217 302,861 1,802 3,554 1997 397,169 349,946 7,426 2 39,795 322,073 316,257 2,128 3,688 1998 424,848 371,207 9,149 1 44,491 332,324 326,762 1,899 3,662 (continued) Old-Age <strong>and</strong> Survivors <strong>Insurance</strong> Trust Fund Disability <strong>Insurance</strong> trust fund Assets invested in U.S. Receipts Expenditures Total assets government Cash Net Benefit Other Assets (year end) securities balances Total contributions Other sources Total payments expenditures (year end) Bf451 Bf452 Bf453 Bf454 Bf455 Bf456 Bf457 Bf458 Bf459 Bf460 Year Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars 1937 766 513 253 — — — — — — — 1938 1,132 862 269 — — — — — — — 1939 1,724 1,435 289 — — — — — — — 1940 2,031 2,017 14 — — — — — — — 1941 2,762 2,736 26 — — — — — — — 1942 3,688 3,655 33 — — — — — — — 1943 4,820 4,779 42 — — — — — — — 1944 6,005 5,967 38 — — — — — — — 1945 7,121 7,054 66 — — — — — — — 1946 8,150 8,079 71 — — — — — — — 1947 9,360 9,268 92 — — — — — — — 1948 10,722 10,556 166 — — — — — — — 1949 11,816 11,728 88 — — — — — — — 1950 13,721 13,331 391 — — — — — — — 1951 15,540 15,017 522 — — — — — — — 1952 17,442 16,960 481 — — — — — — — 1953 18,707 18,291 416 — — — — — — — 1954 20,576 19,863 713 — — — — — — — 1955 21,663 21,102 561 — — — — — — — 1956 22,519 21,831 689 — — — — — — — 1957 22,393 21,566 827 709 702 7 59 57 2 649 1958 21,864 20,953 911 991 966 25 261 249 12 1,379 1959 20,141 19,151 990 931 891 40 485 457 28 1,825 1960 20,324 19,128 1,196 1,063 1,010 53 600 568 32 2,289 1961 19,725 18,404 1,321 1,104 1,038 66 956 887 69 2,437 1962 18,337 17,060 1,277 1,114 1,046 68 1,183 1,105 78 2,368 1963 18,480 17,154 1,327 1,165 1,099 66 1,297 1,210 87 2,235 1964 19,125 17,758 1,367 1,218 1,154 64 1,407 1,309 98 2,047 (continued)
SOCIAL WELFARE PROGRAMS Series Bf442–460 775 TABLE Bf442–460 Old-Age, Survivors <strong>Insurance</strong> trust fund – receipts, expenditures, <strong>and</strong> assets: 1937–1998 Continued Old-Age <strong>and</strong> Survivors <strong>Insurance</strong> Trust Fund Disability <strong>Insurance</strong> trust fund Assets invested in U.S. Receipts Expenditures Total assets government Cash Net Benefit Other Assets (year end) securities balances Total contributions Other sources Total payments expenditures (year end) Bf451 Bf452 Bf453 Bf454 Bf455 Bf456 Bf457 Bf458 Bf459 Bf460 Year Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars 1965 18,235 16,643 1,592 1,247 1,188 59 1,687 1,573 114 1,606 1966 20,570 18,789 1,781 2,079 2,006 73 1,947 1,784 163 1,739 1967 24,222 22,513 1,708 2,379 2,286 93 2,089 1,950 139 2,029 1968 25,704 23,258 2,446 3,454 3,316 138 2,458 2,311 147 3,025 1969 30,082 27,886 2,197 3,792 3,599 193 2,716 2,557 159 4,100 1970 32,454 29,935 2,519 4,774 4,481 293 3,259 3,085 174 5,614 1971 33,789 — — 5,031 4,620 411 4,000 3,783 217 6,645 1972 35,318 — — 5,572 5,107 465 4,759 4,502 257 7,457 1973 36,487 — — 6,443 5,932 511 5,973 5,764 209 7,927 1974 37,777 — — 7,378 6,826 552 7,196 6,957 239 8,109 1975 36,987 — — 8,035 7,444 591 8,790 8,505 285 7,354 1976 35,388 — — 8,757 8,233 524 10,366 10,055 311 5,745 1977 32,491 — — 9,570 9,138 432 11,945 11,547 398 3,370 1978 27,520 — — 13,810 13,413 397 12,954 12,599 355 4,226 1979 24,660 — — 15,590 15,114 476 14,186 13,786 400 5,630 1980 22,823 — — 13,871 13,255 616 15,872 15,515 357 3,629 1981 21,490 — — 17,078 16,738 340 17,658 17,192 466 3,049 1982 22,088 — — 22,715 21,995 720 17,992 17,376 616 2,691 1983 19,672 — — 20,682 17,991 2,691 18,177 17,524 653 5,195 1984 27,117 — — 17,309 15,945 1,364 18,546 17,898 648 3,959 1985 35,842 — — 19,301 17,191 2,110 19,478 18,827 651 6,321 1986 39,081 — — 19,439 18,399 1,040 20,522 19,853 669 7,780 1987 62,149 — — 20,303 19,691 612 21,425 20,519 906 6,658 1988 102,899 — — 22,699 22,039 660 22,494 21,695 799 6,864 1989 155,063 — — 24,795 23,993 802 23,753 22,911 842 7,905 1990 214,197 — — 28,791 28,539 252 25,616 24,829 787 11,079 1991 267,849 — — 30,390 29,137 1,253 28,571 27,695 876 12,898 1992 319,150 — — 31,430 30,136 1,294 32,004 31,112 892 12,324 1993 369,322 — — 32,301 31,185 1,116 35,662 34,613 1,049 8,963 1994 413,460 — — 52,841 51,373 1,468 38,879 37,744 1,135 22,925 1995 458,502 — — 56,696 54,401 2,295 42,055 40,923 1,132 37,566 1996 514,028 — — 60,710 57,325 3,385 45,351 44,189 1,162 52,924 1997 589,121 — — 60,499 56,037 4,462 47,034 45,695 1,339 66,389 1998 681,645 — — 64,357 58,966 5,390 49,931 48,207 1,724 80,815 Source U.S. <strong>Social</strong> Security Administration, <strong>Social</strong> Security Bulletin: Annual Statistical Supplement (1999), Tables 4.A1 <strong>and</strong> 4.A2, pp. 159–160. For series Bf452–453, April issues of the <strong>Social</strong> Security Bulletin. Documentation See also the text for Table Bf377–394. The Old-Age, Survivors, <strong>and</strong> Disability <strong>Insurance</strong> (OASDI) taxes collected from employees, employers, <strong>and</strong> the self-employed are credited to the Old- Age, Survivors <strong>Insurance</strong> (OASI) <strong>and</strong> Disability <strong>Insurance</strong> (DI) trust funds. Benefits are financed principally through these contributions on a pay-asyou-go basis. In addition, the trust funds receive income from the following: interest on investments of trust fund assets in securities issued or guaranteed by the U.S. government; federal general revenues to finance the cost of benefits attributable to military <strong>and</strong> other gratuitous wage credits; revenues resulting from the inclusion of <strong>Social</strong> Security benefits in adjusted gross income for federal income tax purposes; <strong>and</strong> special age-72 benefits (covered by transfers from the general fund of payments for costs of benefits to certain uninsured persons who attained age 72 before 1972). The OASI program is currently administered by the <strong>Social</strong> Security Administration (SSA). Prior to 1995, SSA was a component of the Department of Health <strong>and</strong> Human Services. Series Bf442. The sum of series Bf443–446. Series Bf447. The sum of series Bf448–450. Series Bf443 <strong>and</strong> Bf455. Beginning in 1983, the net contributions to the OASI <strong>and</strong> DI trust funds include transfers from the general fund of the Treasury representing contributions that would have been paid on deemed wage credits for military service in 1957 <strong>and</strong> later if such credits were considered to be covered wages. Series Bf445 <strong>and</strong> Bf456. Includes payments for the following: in 1947–1951 (OASI) <strong>and</strong> in 1966 <strong>and</strong> later (both funds), costs of noncontributory wage credits for military service performed before 1957; in 1971–1982, costs of deemed wage credits for military service performed after 1956; <strong>and</strong> starting in 1968 (OASI only), costs of benefits to certain uninsured persons who attained age 72 before 1968. Series Bf446 <strong>and</strong> Bf456. Includes net profits or losses on marketable investments. Beginning in 1967, administrative expenses are charged currently to the trust fund on an estimated basis with a final adjustment, including interest, made in the following fiscal year. Beginning in October 1973 for the OASI fund <strong>and</strong> in July 1974 for the DI fund, the figures shown in series Bf446 <strong>and</strong> Bf456 include relatively small amounts of gifts to the fund. Figures for the period 1983–1986 reflect payments from a borrowing trust fund to (continued)