Social Insurance and Public Assistance

SOCIAL WELFARE PROGRAMS Series Bf442–460 775
TABLE Bf442–460 Old-Age, Survivors Insurance trust fund – receipts, expenditures, and assets: 1937–1998
Continued
Old-Age and Survivors Insurance Trust Fund
Disability Insurance 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. Social Security Administration, Social Security Bulletin: Annual Statistical Supplement
(1999), Tables 4.A1 and 4.A2, pp. 159–160. For series Bf452–453,
April issues of the Social Security Bulletin.
Documentation
See also the text for Table Bf377–394.
The Old-Age, Survivors, and Disability Insurance (OASDI) taxes collected
from employees, employers, and the self-employed are credited to the Old-
Age, Survivors Insurance (OASI) and Disability Insurance (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 and other gratuitous wage credits; revenues
resulting from the inclusion of Social Security benefits in adjusted gross income
for federal income tax purposes; and 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 Social Security Administration (SSA). Prior
to 1995, SSA was a component of the Department of Health and Human
Services.
Series Bf442. The sum of series Bf443–446.
Series Bf447. The sum of series Bf448–450.
Series Bf443 and Bf455. Beginning in 1983, the net contributions to the
OASI and 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 and later if such credits were considered
to be covered wages.
Series Bf445 and Bf456. Includes payments for the following: in 1947–1951
(OASI) and in 1966 and 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; and starting
in 1968 (OASI only), costs of benefits to certain uninsured persons who
attained age 72 before 1968.
Series Bf446 and 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 and in July 1974 for the DI fund, the figures shown in series Bf446
and 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)