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<title>B. TRUST FUND FINANCIAL OPERATIONS IN 2023</title>
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<h2 class="pHeading1">2024 OASDI Trustees Report </h2>
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<blockquote>
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<div class="CodeAnchor"><a name="94966"> </a></div>
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<div class="Section">
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<span style="list-style-type: upper-alpha">B. </span><a name="94983">TRUST FUND FINANCIAL OPERATIONS IN 2023</a></div>
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<div class="Body"><a name="95001">Table </a><a href="#96807" title="B. TRUST FUND FINANCIAL OPERATIONS IN 2023">II.B1</a> shows the income, cost, and asset reserves for the OASI, the DI, and the combined OASI and DI Trust Funds in calendar year 2023.</div>
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<table class="OperationsSummary" cellspacing="0" summary="">
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<caption>
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<div class="TableTitle">
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<span style="list-style-type: decimal">Table II.B1.—</span><span style="color: #000000; font-family: "Times New Roman"; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><a name="96807">Summary of 2023 Trust Fund Financial Operations</a></span></div>
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<div class="TableSubTitle"><a name="96621">[In billions]</a></div>
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</caption>
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<tr>
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<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 8%">
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<div class="CellHeading"><a name="96257"> </a></div>
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</th>
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<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 50.5%">
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<div class="CellHeading"><a name="96611"></a></div>
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</th>
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<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 15.6%">
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<div class="CellHeadingR"><a name="96261">OASI</a></div>
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</th>
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<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 15.6%">
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<div class="CellHeadingR"><a name="96263">DI</a></div>
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</th>
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<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 15.8%">
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<div class="CellHeadingR"><a name="96265">OASDI</a></div>
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</th>
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</tr>
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<tr>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
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<div class="CellBodyL"><a name="96267">Asset reserves at the end of 2022 </a></div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="137130">$2,711.9</a></div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="137132">$118.0</a></div>
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</td>
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||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="137134">$2,829.9</a></div>
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||
</td>
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||
</tr>
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<tr>
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||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
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<div class="CellBodyL"><a name="96277"><!--o--></a>Total income in 2023 <sup><a name="wwfootnote_inline_2" href="#2">a</a></sup> </div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="96281">1,166.9</a></div>
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</td>
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||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="96283">183.8</a></div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="96285">1,350.7</a></div>
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</td>
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</tr>
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<tr>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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||
<div class="CellBodyL" style="color: #000000; font-family: "Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none; vertical-align: baseline"><a name="96287"> </a></div>
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||
</td>
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||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBodyL"><a name="96289"><!--o--></a>Net payroll tax contributions<sup><a name="wwfootnote_inline_3" href="#3">b</a></sup> </div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="96291">1,054.1</a></div>
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||
</td>
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||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="96293">179.0</a></div>
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</td>
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||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="96295">1,233.1</a></div>
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</td>
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||
</tr>
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<tr>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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||
<div class="CellBodyL" style="color: #000000; font-family: "Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none; vertical-align: baseline"><a name="136748"> </a></div>
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</td>
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||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBodyL"><span class="Link"><a href="VI_I_glossary.html#1005644" title="I. GLOSSARY" name="136751">Interest</a></span> </div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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||
<div class="CellBody"><a name="136753">63.0</a></div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="136755">3.8</a></div>
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</td>
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<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
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<div class="CellBody"><a name="136757">66.9</a></div>
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</td>
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</tr>
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<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL" style="color: #000000; font-family: "Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none; vertical-align: baseline"><a name="136759"> </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL"><span class="Link"><a href="VI_I_glossary.html#1005808" title="I. GLOSSARY" name="136763">Taxation of benefits</a></span> </div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="136765">49.8</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="136767">.9</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="136769">50.7</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
|
||
<div class="CellBodyL"><a name="96320">Total cost in 2023 </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96324">1,237.3</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96326">154.8</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96328">1,392.1</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL" style="color: #000000; font-family: "Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none; vertical-align: baseline"><a name="96330"> </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL"><span class="Link"><a href="VI_I_glossary.html#1005396" title="I. GLOSSARY" name="96334">Benefit payments</a></span> </div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96336">1,227.4</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96338">151.9</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96340">1,379.3</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL" style="color: #000000; font-family: "Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none; vertical-align: baseline"><a name="136781"> </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL"><a name="136785">Administrative expenses </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="136787">4.4</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="136789">2.8</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="136791">7.2</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL" style="color: #000000; font-family: "Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none; vertical-align: baseline"><a name="96342"> </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL"><span class="Link"><a href="VI_I_glossary.html#1005725" title="I. GLOSSARY" name="96347">Railroad Retirement</a></span> <span class="Link"><a href="VI_I_glossary.html#1005585" title="I. GLOSSARY">financial interchange</a></span> </div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96349">5.6</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96351">.1</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96353">5.6</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
|
||
<div class="CellBodyL"><a name="96366">Net change in asset reserves in 2023 </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96370">-70.4</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96372">29.0</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96374">-41.4</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
|
||
<div class="CellBodyL"><a name="96376">Asset reserves at the end of 2023 </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96380">2,641.5</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96382">147.0</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="96384">2,788.5</a></div>
|
||
</td>
|
||
</tr>
|
||
</table>
|
||
<hr />
|
||
<div style="font-size: smaller; float: left; padding-right: 10px">
|
||
<a name="2" href="#wwfootnote_inline_2">a</a>
|
||
</div>
|
||
<div class="TableFootnote"><a name="137946">Includes less than $50 million in reimbursements from the General Fund of the Treasury and gifts. See section </a><a href="III_A_cyoper.html#84778" title="III. FINANCIAL OPERATIONS OF THE TRUST FUNDS AND LEGISLATIVE CHANGES IN THE LAST YEAR">III.A</a> for details.</div>
|
||
<br style="clear: both" />
|
||
<div style="font-size: smaller; float: left; padding-right: 10px">
|
||
<a name="3" href="#wwfootnote_inline_3">b</a>
|
||
</div>
|
||
<div class="TableFootnote"><a name="138693">Includes adjustments for prior calendar years. </a></div>
|
||
<br style="clear: both" />
|
||
<div class="TableNote" style="margin-top: 3.0pt"><a name="95633">Note: Components may not sum to totals because of rounding.</a></div>
|
||
<div class="Body"><a name="96454">In 2023, net payroll tax contributions accounted for 91.3 percent of total trust fund income. Net payroll tax contributions consist of taxes paid by employees, employers, and the self-employed on earnings covered by Social Security. These taxes are paid on covered earnings up to a specified maximum annual amount, which was $160,200 in 2023. Table </a><a href="#99490" title="B. TRUST FUND FINANCIAL OPERATIONS IN 2023">II.B2</a> shows the payroll tax rates for 2023. </div>
|
||
<table class="TaxRates" cellspacing="0" summary="">
|
||
<caption>
|
||
<div class="TableTitle">
|
||
<span style="list-style-type: decimal">Table II.B2.—</span><a name="99490">Payroll Tax Contribution Rates for 2023</a></div>
|
||
<div class="TableSubTitle"><a name="99491">[In percent]</a></div>
|
||
</caption>
|
||
<tr>
|
||
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 66.6%">
|
||
<div class="CellHeadingR"><a name="99499"> </a></div>
|
||
</th>
|
||
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 11.1%">
|
||
<div class="CellHeadingR"><a name="99501">OASI</a></div>
|
||
</th>
|
||
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 11.1%">
|
||
<div class="CellHeadingR"><a name="99503">DI</a></div>
|
||
</th>
|
||
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 11.1%">
|
||
<div class="CellHeadingR"><a name="99505">OASDI</a></div>
|
||
</th>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL"><a name="99507">Payroll tax contribution rate for employees </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99509">5.3</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99511">0.9</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99513">6.2</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL"><a name="99515">Payroll tax contribution rate for employers </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99517">5.3</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99519">.9</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99521">6.2</a></div>
|
||
</td>
|
||
</tr>
|
||
<tr>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBodyL"><a name="99523">Payroll tax contribution rate for self-employed persons </a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99525">10.6</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99527">1.8</a></div>
|
||
</td>
|
||
<td style="border-bottom-color: WhiteSmoke; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: WhiteSmoke; border-left-style: solid; border-left-width: 1px; border-right-color: WhiteSmoke; border-right-style: solid; border-right-width: 1px; border-top-color: WhiteSmoke; border-top-style: solid; border-top-width: 1px; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
|
||
<div class="CellBody"><a name="99529">12.4</a></div>
|
||
</td>
|
||
</tr>
|
||
</table>
|
||
<div class="BodyAfterTable"><a name="98974">Interest earned on invested trust fund asset reserves accounted for 5.0 percent of OASI and DI combined trust fund income in 2023. Revenue from subjecting up to 50 percent of Social Security benefits to Federal personal income taxation for beneficiaries with income (including half of benefits and all non-taxable interest received) exceeding specified levels accounted for 3.8 percent of OASDI income.</a></div>
|
||
<div class="Body"><a name="136111">The Department of the Treasury invests all trust fund income in interest-bearing securities issued by the U.S. Government. In 2023, the combined trust fund reserves (the excess of all past income over all past cost) earned interest at an effective annual rate of 2.4 percent. </a></div>
|
||
<div class="Body"><a name="100979">Retirement, survivor, and disability benefits accounted for 99.1 percent of OASI and DI combined trust fund cost in 2023. The expenses for administering the Social Security program were 0.5 percent of total cost. The net payment to the Railroad Retirement Social Security Equivalent Benefit Account from the combined OASI and DI Trust Funds accounted for 0.4 percent of total OASDI cost. </a></div>
|
||
<div class="Body"><a name="99485"><!--o--></a>Trust fund reserves provide the basis for paying benefits. Combined trust fund reserves decreased by $41.4 billion during 2023 because income to the combined funds, including interest earned on trust fund reserves, was less than total cost. In last year’s report, combined reserves were projected to decrease by $53.2 billion in 2023. At the end of 2023, the combined reserves of the OASI and the DI Trust Funds were $2,788.5 billion, or 188 percent of estimated cost <sup><a name="wwfootnote_inline_29" href="#29">1</a></sup> for 2024. In comparison, the combined reserves at the end of 2022 were 203 percent of actual cost for 2023.</div>
|
||
<hr />
|
||
<div style="font-size: smaller; float: left; padding-right: 10px">
|
||
<a name="29" href="#wwfootnote_inline_29">1</a>
|
||
</div>
|
||
<div class="Footnote"><a name="137444">Estimated cost is based on the intermediate set of assumptions.</a></div>
|
||
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|
||
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