publicdata/ssa-gov
1
0
Fork 0
Code Issues Pull requests Projects Releases Packages Wiki Activity Actions
ssa-gov/www.ssa.gov/OACT/TR/2024/VI_D_LRsens.html

2257 lines
No EOL
341 KiB
HTML
Raw Blame History

This file contains invisible Unicode characters

This file contains invisible Unicode characters that are indistinguishable to humans but may be processed differently by a computer. If you think that this is intentional, you can safely ignore this warning. Use the Escape button to reveal them.

This file contains Unicode characters that might be confused with other characters. If you think that this is intentional, you can safely ignore this warning. Use the Escape button to reveal them.

<?xml version="1.0" encoding="utf-8"?>
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xml:lang="en" lang="en" xmlns="http://www.w3.org/1999/xhtml">
<head>
<meta http-equiv="Content-Type" content="text/html;charset=utf-8" />
<meta http-equiv="Content-Style-Type" content="text/css" />
<!-- MOTW-DISABLED saved from url=(0014)about:internet -->
<title>D. LONG-RANGE SENSITIVITY ANALYSIS</title>
<link rel="StyleSheet" href="css/VI_D_LRsens.css" type="text/css" media="all" />
<link rel="StyleSheet" href="css/webworks.css" type="text/css" media="all" />
<script>(window.BOOMR_mq=window.BOOMR_mq||[]).push(["addVar",{"rua.upush":"false","rua.cpush":"false","rua.upre":"false","rua.cpre":"false","rua.uprl":"false","rua.cprl":"false","rua.cprf":"false","rua.trans":"","rua.cook":"false","rua.ims":"false","rua.ufprl":"false","rua.cfprl":"false","rua.isuxp":"false","rua.texp":"norulematch","rua.ceh":"false","rua.ueh":"false","rua.ieh.st":"0"}]);</script>
<script>!function(e){var n="https://s.go-mpulse.net/boomerang/";if("False"=="True")e.BOOMR_config=e.BOOMR_config||{},e.BOOMR_config.PageParams=e.BOOMR_config.PageParams||{},e.BOOMR_config.PageParams.pci=!0,n="https://s2.go-mpulse.net/boomerang/";if(window.BOOMR_API_key="LERZW-HECFS-R8H4E-23UQ7-ERMQB",function(){function e(){if(!o){var e=document.createElement("script");e.id="boomr-scr-as",e.src=window.BOOMR.url,e.async=!0,i.parentNode.appendChild(e),o=!0}}function t(e){o=!0;var n,t,a,r,d=document,O=window;if(window.BOOMR.snippetMethod=e?"if":"i",t=function(e,n){var t=d.createElement("script");t.id=n||"boomr-if-as",t.src=window.BOOMR.url,BOOMR_lstart=(new Date).getTime(),e=e||d.body,e.appendChild(t)},!window.addEventListener&&window.attachEvent&&navigator.userAgent.match(/MSIE [67]\./))return window.BOOMR.snippetMethod="s",void t(i.parentNode,"boomr-async");a=document.createElement("IFRAME"),a.src="about:blank",a.title="",a.role="presentation",a.loading="eager",r=(a.frameElement||a).style,r.width=0,r.height=0,r.border=0,r.display="none",i.parentNode.appendChild(a);try{O=a.contentWindow,d=O.document.open()}catch(_){n=document.domain,a.src="javascript:var d=document.open();d.domain='"+n+"';void(0);",O=a.contentWindow,d=O.document.open()}if(n)d._boomrl=function(){this.domain=n,t()},d.write("<bo"+"dy onload='document._boomrl();'>");else if(O._boomrl=function(){t()},O.addEventListener)O.addEventListener("load",O._boomrl,!1);else if(O.attachEvent)O.attachEvent("onload",O._boomrl);d.close()}function a(e){window.BOOMR_onload=e&&e.timeStamp||(new Date).getTime()}if(!window.BOOMR||!window.BOOMR.version&&!window.BOOMR.snippetExecuted){window.BOOMR=window.BOOMR||{},window.BOOMR.snippetStart=(new Date).getTime(),window.BOOMR.snippetExecuted=!0,window.BOOMR.snippetVersion=12,window.BOOMR.url=n+"LERZW-HECFS-R8H4E-23UQ7-ERMQB";var i=document.currentScript||document.getElementsByTagName("script")[0],o=!1,r=document.createElement("link");if(r.relList&&"function"==typeof r.relList.supports&&r.relList.supports("preload")&&"as"in r)window.BOOMR.snippetMethod="p",r.href=window.BOOMR.url,r.rel="preload",r.as="script",r.addEventListener("load",e),r.addEventListener("error",function(){t(!0)}),setTimeout(function(){if(!o)t(!0)},3e3),BOOMR_lstart=(new Date).getTime(),i.parentNode.appendChild(r);else t(!1);if(window.addEventListener)window.addEventListener("load",a,!1);else if(window.attachEvent)window.attachEvent("onload",a)}}(),"".length>0)if(e&&"performance"in e&&e.performance&&"function"==typeof e.performance.setResourceTimingBufferSize)e.performance.setResourceTimingBufferSize();!function(){if(BOOMR=e.BOOMR||{},BOOMR.plugins=BOOMR.plugins||{},!BOOMR.plugins.AK){var n=""=="true"?1:0,t="",a="vht6pfix22vgcz6v56mq-f-b67f02112-clientnsv4-s.akamaihd.net",i="false"=="true"?2:1,o={"ak.v":"39","ak.cp":"1204614","ak.ai":parseInt("728289",10),"ak.ol":"0","ak.cr":2,"ak.ipv":4,"ak.proto":"http/1.1","ak.rid":"348ec97","ak.r":35636,"ak.a2":n,"ak.m":"dsca","ak.n":"essl","ak.bpcip":"169.231.231.0","ak.cport":33018,"ak.gh":"23.214.170.93","ak.quicv":"","ak.tlsv":"tls1.3","ak.0rtt":"","ak.0rtt.ed":"","ak.csrc":"-","ak.acc":"bbr","ak.t":"1742073753","ak.ak":"hOBiQwZUYzCg5VSAfCLimQ==R9fRyVjXs++9fsWqnXLY/cYbqfjuYJR5RY/EHEkzLvx7VCr3ZoGwFwz7rivhfI/oMM1VDzHWe12F4ScONUvuSLi+DSrlifQoec7CrxEG54qO4efPsvP0Un3ocHyny1dAkyM56nmA+XSkl+TkuKM+J/jP9sfQSq357N4y4lBlmC+Z5koKSEDzXweAKFuH+ereIGT9fvRqQBng3cFRELI5n/5u7VOWq6weslRuhe+kCVxSzMPXxO1nmWp0hLWxG0VSQa+poe0RZsOM2K82W7Zro2ZDdFQfrf9HXRaLm7hqaeMjXZ5pLFeqRpzRE1O+SLi23vaHR+s6Y1coe9Lo/o8sa/LQWq9StWFbx9rtBkvmoyZFMFeHDPuUVuDG/i8brHR7adbxonpCXPTUuj9zarx35WeR3MOTQd2gI3oGra9TQh4=","ak.pv":"98","ak.dpoabenc":"","ak.tf":i};if(""!==t)o["ak.ruds"]=t;var r={i:!1,av:function(n){var t="http.initiator";if(n&&(!n[t]||"spa_hard"===n[t]))o["ak.feo"]=void 0!==e.aFeoApplied?1:0,BOOMR.addVar(o)},rv:function(){var e=["ak.bpcip","ak.cport","ak.cr","ak.csrc","ak.gh","ak.ipv","ak.m","ak.n","ak.ol","ak.proto","ak.quicv","ak.tlsv","ak.0rtt","ak.0rtt.ed","ak.r","ak.acc","ak.t","ak.tf"];BOOMR.removeVar(e)}};BOOMR.plugins.AK={akVars:o,akDNSPreFetchDomain:a,init:function(){if(!r.i){var e=BOOMR.subscribe;e("before_beacon",r.av,null,null),e("onbeacon",r.rv,null,null),r.i=!0}return this},is_complete:function(){return!0}}}}()}(window);</script></head>
<title>D. LONG-RANGE SENSITIVITY ANALYSIS</title>
<body style="">
<h2 class="pHeading1">2024 OASDI Trustees Report </h2>
<div style="float: right; height: 1px;"><a href="#100515"><img src="images/blank.gif" height="0" width="0" border="0" alt="skip to main content" /></a></div>
<div style="text-align: left;">
<table cellspacing="0">
<tr>
<td>
<a href="trTOC.html"><img src="images/toc.gif" alt="Table of Contents" border="0" /></a>
</td>
<td>
<a href="VI_C_SRfyproj.html"><img src="images/prev.gif" alt="Previous" border="0" /></a>
</td>
<td>
<a href="VI_E_stoch.html"><img src="images/next.gif" alt="Next" border="0" /></a>
</td>
<!-- The following adds the table icon and link to the navbar -->
<td>
<a href="X1_trLOT.html">
<img src="images/tables.gif" alt="Tables" border="0" />
</a>
</td>
<!-- The following adds the figures icon and link to the navbar -->
<td>
<a href="X2_trLOF.html">
<img src="images/figures.gif" alt="Figures" border="0" />
</a>
</td>
<td>
<a href="ix.html"><img src="images/index.gif" alt="Index" border="0" /></a>
</td>
</tr>
</table>
</div>
<hr align="left" />
<blockquote>
<div class="CodeAnchor"><a name="100515"></a></div>
<div class="Section" style="margin-top: 0.0pt">
<span style="list-style-type: upper-alpha">D. </span><a name="100512">LONG-RANGE SENSITIVITY ANALYSIS</a></div>
<div class="Body"><a name="116541">This appendix presents estimates that illustrate the sensitivity of the long-range actuarial status of the OASDI program to changes in selected individual</a> <span class="Link"><a href="VI_I_glossary.html#1005417" title="I. GLOSSARY">assumptions</a></span>. The estimates based on the three alternative sets of assumptions, which were presented earlier in this report, illustrate the effects of varying all of the principal assumptions simultaneously, in order to portray a significantly more optimistic or pessimistic future. For each sensitivity analysis presented in this appendix, the <span class="Link"><a href="VI_I_glossary.html#1041552" title="I. GLOSSARY">intermediate alternative II</a></span> projection is the reference point, and one assumption is varied within that alternative. The variation used for each individual assumption is the same as the level used for that assumption in the <span class="Link"><a href="VI_I_glossary.html#1041553" title="I. GLOSSARY">low-cost alternative I</a></span> and <span class="Link"><a href="VI_I_glossary.html#1041554" title="I. GLOSSARY">high-cost alternative III</a></span> projections.</div>
<div class="Body"><a name="116519">Each table in this section shows the effects of changing a particular assumption on the OASDI</a> <span class="Link"><a href="VI_I_glossary.html#1005747" title="I. GLOSSARY">summarized income</a></span> rates, <span class="Link"><a href="VI_I_glossary.html#1005782" title="I. GLOSSARY">summarized cost</a></span> rates, and actuarial balances for 25-year, 50-year, and 75-year <span class="Link"><a href="VI_I_glossary.html#1005853" title="I. GLOSSARY">valuation periods</a></span>. Each table also shows the effects on the annual balance for 2098 and on the year of combined trust fund reserve depletion. Following each table is a discussion of the estimated changes in cost rates. The change in each of the <span class="Link"><a href="VI_I_glossary.html#1037103" title="I. GLOSSARY">actuarial balances</a></span> is approximately equal to the change in the corresponding cost rate, but in the opposite direction. This appendix does not discuss income rates following each table because income rates vary only slightly with changes in assumptions that affect revenue from taxation of benefits.</div>
<div class="Subsection">
<span style="list-style-type: decimal">1. </span><a name="100885">Total Fertility Rate</a></div>
<div class="Body"><a name="92487">Table </a><a href="#111775" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D1</a> shows selected measures of OASDI actuarial status on the basis of alternative II with three different assumptions for the future paths of total fertility rates. The Trustees assume that the ultimate total fertility rate will be 1.6, 1.9, and 2.1&nbsp;children per woman under alternatives III, II, and I, respectively. The ultimate total fertility rate is reached in 2040.</div>
<table class="SensitivityFertility" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D1.—</span><span ><a name="111775">Sensitivity of OASDI Measures to Fertility Assumptions</a></span></div>
<div class="TableSubTitle"><a name="111777">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="111787">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="111797">Ultimate total fertility rate</a><span > <sup><a name="wwfootnote_inline_2" href="#2">a</a></sup></span> <sup><a name="wwfootnote_inline_3" href="#3">b</a></sup></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="111807">1.6</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="111809">1.9</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="111811">2.1</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="111813">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="111823">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="111828">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155440">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155442">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155444">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111836">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111841">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155446">13.93</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155448">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155450">13.88</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111849">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111854">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155452">13.87</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155454">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155456">13.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="111862">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111872">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111877">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155464">16.56</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155466">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155468">16.58</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111885">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111890">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155470">17.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155472">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155474">16.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111898">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111903">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155476">18.07</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155478">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155480">16.81</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="111911">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111921">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111926">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155488">-2.26</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155490">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155492">-2.29</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111934">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111939">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155494">-3.34</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155496">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155498">-2.88</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111947">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="111952">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155500">-4.20</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155502">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155504">-3.05</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="111960">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155506">-7.11</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155508">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155510">-3.29</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="111970">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155512">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155514">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155516">2035</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="111793">The total fertility rate for any year is the average number of children that would be born to a woman if she were to experience, at each age of her life, the birth rate observed in, or assumed for, the selected year, and if she were to survive the entire childbearing period. The ultimate total fertility rate is reached in 2040 under all three alternatives.</a></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="111796">The total fertility rates used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="97163">For the 25-year period, the cost rate for the three fertility assumptions varies by only about 0.02&nbsp;percent of</a> <span class="Link"><a href="VI_I_glossary.html#1005799" title="I. GLOSSARY">taxable payroll</a></span>. In contrast, the 75-year cost rate varies over a wide range, decreasing from 18.07&nbsp;percent to 16.81&nbsp;percent, as the ultimate total fertility rate increases from 1.6 for alternative III to 2.1 for alternative I. Similarly, while the 25-year actuarial balance varies by only 0.02&nbsp;percent of taxable payroll, the 75-year actuarial balance varies over a much wider range, from ‑4.20&nbsp;percent to ‑3.05&nbsp;percent.</div>
<div class="Body"><a name="92683">During the 25-year period, the effects of the very slight increases in the working-age population on tax income resulting from higher fertility (than that experienced in an alternative scenario) are more than offset by the effects of decreases in female labor force participation and increases in the number of child beneficiaries. Therefore, 25-year program cost as a percent of taxable payroll increases slightly with higher fertility. For the 75‑year long-range period, however, changes in fertility have a relatively greater effect on the working-age population than on the</a> <span class="Link"><a href="VI_I_glossary.html#1005701" title="I. GLOSSARY">beneficiary population</a></span>. As a result, an increase in fertility significantly reduces the cost rate. Each increase of 0.1 in the average total fertility rate increases (improves) the long-range actuarial balance by about 0.23&nbsp;percent of taxable payroll.</div>
<div class="Subsection">
<span style="list-style-type: decimal">2. </span><a name="92688">Death Rates</a></div>
<div class="Body"><a name="109143">Table </a><a href="#92699" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D2</a> shows selected measures of OASDI actuarial status on the basis of alternative II with three different assumptions about future reductions in death rates for the period from 2033 to 2098. These assumptions are described in section <a href="V_A_demo.html#252976" title="V. ASSUMPTIONS AND METHODS UNDERLYING ACTUARIAL ESTIMATES">V.A.2</a>. Under the Trustees’ assumptions, the age-sex-adjusted death rates<sup><a name="wwfootnote_inline_59" href="#59">1</a></sup> decline at average annual rates of 0.28&nbsp;percent, 0.73&nbsp;percent, and 1.23&nbsp;percent for alternatives I, II, and III, respectively. </div>
<table class="SensitivityDeathRate" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D2.—</span><a name="92699">Sensitivity of OASDI Measures to Death-Rate Assumptions</a></div>
<div class="TableSubTitle"><a name="94166">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="97550">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="92718">Average annual death-rate reduction </a><span><sup><a name="wwfootnote_inline_12" href="#12">a</a></sup>  <sup><a name="wwfootnote_inline_13" href="#13">b</a></sup></span></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="92730">0.28 percent</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="92733">0.73 percent</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="92736">1.23 percent </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="92748">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="92758">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="104067">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155524">14.29</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155526">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155528">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92768">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104072">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155530">13.88</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155532">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155534">13.93</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92778">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104077">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155536">13.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155538">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155540">13.84</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="92798">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92808">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104082">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155548">16.36</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155550">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155552">16.83</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92818">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104087">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155554">16.47</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155556">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155558">17.55</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92828">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104092">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155560">16.55</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155562">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155564">18.14</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL"><span class="CellBodyBold"><a name="92848">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92858">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104097">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155572">-2.07</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155574">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155576">-2.53</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92868">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104102">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155578">-2.58</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155580">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155582">-3.62</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="92878">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104107">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155584">-2.79</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155586">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155588">-4.29</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="105283">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155590">-3.14</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155592">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155594">-6.16</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="96660">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155596">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155598">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155600">2035</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="12" href="#wwfootnote_inline_12">a</a>
</div>
<div class="TableFootnote"><a name="92716">The average annual death-rate reduction is the average annual geometric rate of decline in the age-sex-adjusted death rate for the period from 2033 to 2098.</a></div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="13" href="#wwfootnote_inline_13">b</a>
</div>
<div class="TableFootnote"><a name="99592">The death-rate reductions used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="92890">The variation in cost for the 25-year period is less pronounced than the variation for the 75-year period because decreases in death rates have cumulative effects. The 25-year cost rate increases from 16.36&nbsp;percent (for an average annual death-rate reduction of 0.28&nbsp;percent from 2033 to 2098) to 16.83&nbsp;percent (for an average annual death-rate reduction of 1.23&nbsp;percent from 2033 to 2098). The 75-year cost rate increases from 16.55&nbsp;percent to 18.14&nbsp;percent. The actuarial balance decreases from ‑2.07&nbsp;percent to ‑2.53&nbsp;percent for the 25-year period, and from -2.79&nbsp;percent to ‑4.29&nbsp;percent for the 75-year period.</a></div>
<div class="Body"><a name="114750">Lower death rates raise both the income (through increased taxable payroll) and the cost of the OASDI program. The relative increase in cost, however, exceeds the relative increase in taxable payroll. For any given year, reductions in the death rates for people who are age 62 and over (ages at which death rates are the highest) increase the number of retired-worker beneficiaries (and, therefore, the amount of retirement benefits paid) without adding significantly to the number of</a> <span class="Link"><a href="VI_I_glossary.html#1007619" title="I. GLOSSARY">covered workers</a></span> (and, therefore, to the taxable payroll). Reductions in death rates for people at age 50 to <span class="Link"><a href="VI_I_glossary.html#1045120" title="I. GLOSSARY">retirement eligibility age</a></span> result in significant increases to the taxable payroll. However, those increases are not large enough to offset the sum of the additional retirement benefits mentioned above and the <span class="Link"><a href="VI_I_glossary.html#1005558" title="I. GLOSSARY">disability benefits</a></span> paid to additional beneficiaries at these pre-retirement ages, which are ages of high <span class="Link"><a href="VI_I_glossary.html#1045205" title="I. GLOSSARY">disability incidence</a></span>. At ages under 50, death rates are so low that even substantial reductions in death rates do not result in significant increases in the numbers of covered workers or beneficiaries. Consequently, if death rates decline by about the same relative amount for all ages, the cost increases faster than the rate of growth in payroll, which results in higher cost rates and lower actuarial balances. Each additional 0.1‑percentage-point increase in the average annual rate of decline in the death rate decreases (worsens) the long-range actuarial balance by about 0.16&nbsp;percent of taxable payroll.</div>
<div class="Subsection">
<span style="list-style-type: decimal">3. </span><a name="92900">Immigration</a></div>
<div class="Body"><a name="114835">Table </a><a href="#100036" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D3</a> shows selected measures of OASDI actuarial status under alternative II with three different assumptions about the magnitude of total net immigration (sum of net lawful permanent resident (LPR) immigration and net other-than-LPR immigration). See section V.A.3 for more information on immigration assumptions and methods. Under the Trustees’ assumptions, total net annual immigration averages 829,000 persons, 1,244,000 persons, and 1,683,000 persons for the period 2034 through 2098 under alternatives III, II, and I, respectively. </div>
<table class="SensitivityImmigration" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D3.—</span><a name="100036">Sensitivity of OASDI Measures to Total Net Immigration Assumptions</a></div>
<div class="TableSubTitle"><a name="100037">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="100047">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="100061">Average annual total net immigration</a> <span><sup><a name="wwfootnote_inline_15" href="#15">a</a></sup>  <sup><a name="wwfootnote_inline_16" href="#16">b</a></sup></span></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="100071">829,000</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="100073">1,244,000</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="100075">1,683,000</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="100077">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="100087">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="104114">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155616">14.33</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155618">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155620">14.26</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100097">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104119">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155622">13.94</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155624">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155626">13.87</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100107">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104124">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155628">13.85</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155630">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155632">13.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="100117">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100127">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104131">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155640">16.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155642">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155644">16.34</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100137">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104136">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155646">17.31</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155648">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155650">16.62</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100147">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104141">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155652">17.75</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155654">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155656">16.87</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL"><span class="CellBodyBold"><a name="100157">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100167">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104146">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155664">-2.48</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155666">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155668">-2.08</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100177">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104151">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155670">-3.37</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155672">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155674">-2.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="100187">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104156">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155676">-3.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155678">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155680">-3.12</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="105307">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155682">-5.49</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155684">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155686">-3.93</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="100197">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155688">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155690">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155692">2035</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="15" href="#wwfootnote_inline_15">a</a>
</div>
<div class="TableFootnote"><a name="100057">Average annual total net immigration is the annual total net immigration to the </a>Social Security area, including both LPR and other-than-LPR immigration, averaged for 2034 through 2098.</div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="16" href="#wwfootnote_inline_16">b</a>
</div>
<div class="TableFootnote"><a name="100060">The total net immigration assumptions used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="107795">For all three periods, when total net immigration increases, the cost rate decreases. For the 25-year period, the cost rate decreases from 16.80&nbsp;percent of taxable payroll (for average annual total net immigration of 829,000 persons for 2034 through 2098) to 16.34&nbsp;percent (for an average annual total net immigration of 1,683,000&nbsp;persons for 2034 through 2098). For the 50-year period, it decreases from 17.31&nbsp;percent to 16.62&nbsp;percent, and for the 75-year period, it decreases from 17.75&nbsp;percent to 16.87&nbsp;percent. The actuarial balance increases from ‑2.48&nbsp;percent to ‑2.08&nbsp;percent for the 25-year period, from ‑3.37&nbsp;percent to -2.76&nbsp;percent for the 50-year period, and from ‑3.90&nbsp;percent to ‑3.12&nbsp;percent for the 75-year period.</a></div>
<div class="Body"><a name="93097">The cost rate decreases with an increase in total net immigration because immigration occurs at relatively young ages, thereby increasing the numbers of covered workers earlier than the numbers of beneficiaries. Increasing average annual total net immigration by 100,000 persons increases (improves) the long-range actuarial balance by about 0.09&nbsp;percent of taxable payroll.</a></div>
<div class="Subsection">
<span style="list-style-type: decimal">4. </span><a name="93098">Real Wage Growth</a></div>
<div class="Body"><a name="93102">Table </a><a href="#93111" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D4</a> shows selected measures of OASDI actuarial status on the basis of alternative II with three different assumptions about the <span class="Link">real growth rate in the average annual wage in OASDI covered employment</span>. Under the Trustees’ assumptions, the average annual real growth rate in the average wage in covered employment from 2033 to 2098 is 0.53&nbsp;percent, 1.14&nbsp;percent, and 1.74&nbsp;percent under alternatives III, II, and I, respectively. </div>
<table class="SensitivityWage" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D4.—</span><a name="93111">Sensitivity of OASDI Measures to Real Wage Growth Assumptions</a></div>
<div class="TableSubTitle"><a name="94153">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="97597">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="93134">Average annual real wage growth  </a><span > <sup><a name="wwfootnote_inline_18" href="#18">a</a></sup>  <sup><a name="wwfootnote_inline_19" href="#19">b</a></sup></span></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="93146">0.53</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="93149">1.14</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="93152">1.74</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="93164">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="93174">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="104161">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155701">14.41</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155703">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155705">14.18</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93184">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104166">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155707">14.05</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155709">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155711">13.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93194">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104171">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155713">13.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155715">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155717">13.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="93214">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93224">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104176">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155725">17.39</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155727">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155729">15.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93234">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104181">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155731">18.16</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155733">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155735">15.78</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93244">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104186">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155737">18.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155739">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155741">15.97</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL"><span class="CellBodyBold"><a name="93264">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93274">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104191">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155749">-2.99</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155751">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155753">-1.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93284">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104196">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155755">-4.11</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155757">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155759">-2.02</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93294">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104201">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155761">-4.68</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155763">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155765">-2.32</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="105363">Annual balance for </a></span><span style="font-weight: bold">2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155767">-6.70</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155769">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155771">-2.81</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="96688">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155773">2034</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155775">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155777">2036</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="18" href="#wwfootnote_inline_18">a</a>
</div>
<div class="TableFootnote"><a name="93128">The average annual real wage growth is the average annual real growth rate in the average wage in OASDI covered employment from 2033 to 2098.</a></div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="19" href="#wwfootnote_inline_19">b</a>
</div>
<div class="TableFootnote"><a name="99656">The real wage growth assumptions used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="111028">For the 25-year period, the cost rate decreases from 17.39&nbsp;percent (for a real growth rate in the average wage in OASDI covered employment of 0.53&nbsp;percent) to 15.76&nbsp;percent (for a real growth rate of 1.74&nbsp;percent). For the 50-year period, it decreases from 18.16&nbsp;percent to 15.78&nbsp;percent, and for the 75-year period it decreases from 18.64&nbsp;percent to 15.97&nbsp;percent. The actuarial balance increases from -2.99&nbsp;percent to -1.57&nbsp;percent for the 25-year period, from ‑4.11&nbsp;percent to -2.02&nbsp;percent for the 50-year period, and from ‑4.68&nbsp;percent to ‑2.32&nbsp;percent for the 75-year period.</a></div>
<div class="Body"><a name="93306">The cost rate decreases with increasing real wage growth. Higher wages increase taxable payroll immediately, but they increase benefit levels only gradually as new beneficiaries become entitled. In addition, cost-of-living adjustments (COLA) to benefits depend not on changes in wages, but on changes in prices. Each 0.1-percentage-point increase in real wage growth increases (improves) the long-range actuarial balance by about 0.19&nbsp;percent of taxable payroll.</a></div>
<div class="Subsection">
<span style="list-style-type: decimal">5. </span><span class="Link"><a href="VI_I_glossary.html#1005488" title="I. GLOSSARY" name="93311">Consumer Price Index</a></span></div>
<div class="Body"><a name="93315">Table </a><a href="#112613" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D5</a> shows selected measures of OASDI actuarial status on the basis of alternative II with three different assumptions about the rate of increase for the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI). Under the Trustees’ assumptions, the annual increase in the CPI is 3.00&nbsp;percent, 2.40&nbsp;percent, and 1.80&nbsp;percent under alternatives I, II, and III, respectively. These ultimate rates of increase are reached by 2026 under all three alternatives.</div>
<table class="SensitivityCPI" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D5.—</span><a name="112613">Sensitivity of OASDI Measures to CPI-Increase Assumptions</a></div>
<div class="TableSubTitle"><a name="112615">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="112625">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="112635">Ultimate annual increase in CPI</a><span > <sup><a name="wwfootnote_inline_21" href="#21">a</a></sup></span></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="112645">3.00</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="112647">2.40</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="112649">1.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="112651">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="112661">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="112666">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155790">14.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155792">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155794">14.31</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112674">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112679">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155796">13.89</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155798">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155800">13.92</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112687">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112692">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155802">13.79</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155804">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155806">13.81</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="112700">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112710">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112715">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155814">16.47</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155816">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155818">16.67</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112723">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112728">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155820">16.83</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155822">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155824">17.10</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112736">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112741">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155826">17.14</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155828">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155830">17.44</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="112749">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112759">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112764">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155838">-2.19</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155840">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155842">-2.36</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112772">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112777">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155844">-2.94</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155846">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155848">-3.18</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112785">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="112790">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155850">-3.36</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155852">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155854">-3.63</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="112798">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155856">-4.45</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155858">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155860">-4.81</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="112808">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155862">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155864">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155866">2035</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="21" href="#wwfootnote_inline_21">a</a>
</div>
<div class="TableFootnote"><a name="112634">The CPI assumptions used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="111057">For all three periods, the cost rate increases when the assumed rates of increase in the CPI are smaller. For the 25-year period, the cost rate increases from 16.47&nbsp;percent (for a CPI increase of 3.00&nbsp;percent) to 16.67&nbsp;percent (for a CPI increase of 1.80&nbsp;percent). For the 50-year period, it increases from 16.83&nbsp;percent to 17.10&nbsp;percent, and for the 75-year period, it increases from 17.14&nbsp;percent to 17.44&nbsp;percent. The actuarial balance decreases from ‑2.19&nbsp;percent to -2.36&nbsp;percent for the 25-year period, from ‑2.94&nbsp;percent to ‑3.18&nbsp;percent for the 50-year period, and from ‑3.36&nbsp;percent to ‑3.63&nbsp;percent for the 75-year period.</a></div>
<div class="Body"><a name="111058">The time lag between the effects of the CPI changes on taxable payroll and on </a><span class="Link"><a href="VI_I_glossary.html#1005396" title="I. GLOSSARY">scheduled benefits</a></span> explains these patterns. When the rate of increase in the CPI is greater and real wage growth is constant, then: (1) the effect on taxable payroll due to a greater rate of increase in average wages occurs immediately and (2) the effect on benefits due to a larger COLA occurs with a lag of about 1&nbsp;year. As a result of these effects, the higher taxable payrolls have a stronger effect than the higher benefits, which results in lower cost rates. Each 0.1‑percentage-point decrease in the rate of the change in the CPI decreases (worsens) the long-range actuarial balance by about 0.02&nbsp;percent of taxable payroll.</div>
<div class="Subsection">
<span style="list-style-type: decimal">6. </span><a name="93516">Real Interest Rate</a></div>
<div class="Body"><a name="93520">Table </a><a href="#93524" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D6</a> shows selected measures of OASDI actuarial status under alternative II with three different assumptions about the annual real interest rate (compounded semiannually) for <span class="Link"><a href="VI_I_glossary.html#1005748" title="I. GLOSSARY">special public-debt obligations</a></span> issuable to the trust funds. Under the Trustees’ assumptions, the ultimate annual real interest rate is 1.8&nbsp;percent, 2.3&nbsp;percent, and 2.8&nbsp;percent under alternatives III, II, and I, respectively. These ultimate rates are reached by 2041 under all three alternatives. In each case, the ultimate annual increase in the CPI is 2.40&nbsp;percent, which is consistent with alternative II. Therefore, the ultimate annual yields are 4.2, 4.8, and 5.3&nbsp;percent, respectively.</div>
<table class="SensitivityInterest" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D6.—</span><a name="93524">Sensitivity of OASDI Measures to Real Interest Rate Assumptions</a></div>
<div class="TableSubTitle"><a name="94146">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 55.5%" rowspan="2" colspan="2">
<div class="CellHeading"><a name="97681">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 44.4%" colspan="3">
<div class="CellHeading"><a name="99705">Ultimate annual real interest rate </a><span ><sup><a name="wwfootnote_inline_23" href="#23">a</a></sup>  <sup><a name="wwfootnote_inline_24" href="#24">b</a></sup></span></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 14.8%">
<div class="CellHeadingR"><a name="93552">1.8 percent</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 14.8%">
<div class="CellHeadingR"><a name="93555">2.3 percent</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 14.8%">
<div class="CellHeadingR"><a name="93558">2.8 percent </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 100%" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="93570">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 2.2%">
<div class="CellBodyL"><a name="93580">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 53.3%">
<div class="CellBodyL"><a name="104251">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 14.8%">
<div class="CellBody"><a name="155879">14.26</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 14.8%">
<div class="CellBody"><a name="155881">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 14.8%">
<div class="CellBody"><a name="155883">14.33</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93590">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104256">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155885">13.86</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155887">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155889">13.95</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93600">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104261">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155891">13.75</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155893">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155895">13.85</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="93620">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93630">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104266">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155903">16.63</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155905">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155907">16.52</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93640">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104271">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155909">17.07</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155911">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155913">16.87</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93650">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104276">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155915">17.44</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155917">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155919">17.16</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL"><span class="CellBodyBold"><a name="93670">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93680">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104283">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155927">-2.37</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155929">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155931">-2.19</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93690">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104288">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155933">-3.21</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155935">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155937">-2.91</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="93700">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="104293">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155939">-3.69</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155941">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155943">-3.31</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="105419">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155945">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155947">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155949">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="96716">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155951">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155953">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155955">2035</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="23" href="#wwfootnote_inline_23">a</a>
</div>
<div class="TableFootnote"><a name="99701">The annual real interest rate is the effective annual yield on asset reserves held by the trust funds divided by the annual rate of growth in the CPI.</a></div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="24" href="#wwfootnote_inline_24">b</a>
</div>
<div class="TableFootnote"><a name="99704">The real interest rate assumptions used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="111091">For the 25-year period, the cost rate decreases with increasing real interest rates from 16.63&nbsp;percent (for an ultimate real interest rate of 1.8&nbsp;percent) to 16.52&nbsp;percent (for an ultimate real interest rate of 2.8&nbsp;percent). For the 50‑year period, it decreases from 17.07&nbsp;percent to 16.87&nbsp;percent and, for the 75‑year period, it decreases from 17.44&nbsp;percent to 17.16&nbsp;percent. The actuarial balance increases from -2.37&nbsp;percent to ‑2.19&nbsp;percent for the 25-year period, from ‑3.21&nbsp;percent to ‑2.91&nbsp;percent for the 50-year period, and from ‑3.69&nbsp;percent to -3.31&nbsp;percent for the 75-year period. A relatively higher real interest rate has the effect of discounting more distant future years relatively more. To the extent that annual cost rates and annual deficits are larger in later years, a higher interest rate decreases the summarized rates, and a lower interest rate increases the summarized rates. Each 0.1-percentage-point increase in the real interest rate increases (improves) the long-range actuarial balance by about 0.04&nbsp;percent of taxable payroll.</a></div>
<div class="Subsection">
<span style="list-style-type: decimal">7. </span><span class="Link"><a name="130621">Taxable Ratio</a></span></div>
<div class="Body"><a name="130576">Table </a><a href="#130680" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D7</a> shows selected measures of OASDI actuarial status under alternative II with three different assumptions about the ratio of taxable payroll to OASDI covered earnings (the taxable ratio). Note that covered earnings are the sum of wages and net self-employment earnings covered by Social Security, and taxable payroll is essentially the amount of covered earnings subject to the Social Security payroll tax up to the contribution and benefit base ($168,600 for 2024). Under the Trustees’ assumptions, the taxable ratio at the end of the short-range period (2033) is 81.0&nbsp;percent, 82.5&nbsp;percent, and 84.0&nbsp;percent under alternatives III, II, and I, respectively.</div>
<table class="SensitivityTaxableRatio" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D7.—</span><a name="130680">Sensitivity of OASDI Measures to Taxable Ratio Assumptions</a></div>
<div class="TableSubTitle"><a name="130684">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="130694">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="130698"><!--o--></a>Taxable ratio in 2033 <sup><a name="wwfootnote_inline_30" href="#30">a</a></sup> <sup><a name="wwfootnote_inline_31" href="#31">b</a></sup></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="130708">81.0 percent</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="130710">82.5 percent</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="130712">84.0 percent</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="130714">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="130724">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="130732">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155964">14.32</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155966">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="155968">14.27</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130740">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130748">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155970">13.93</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155972">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155974">13.88</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130756">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130764">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155976">13.82</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155978">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155980">13.78</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="130772">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130782">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130790">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155988">16.81</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155990">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155992">16.34</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130798">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130806">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155994">17.18</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155996">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="155998">16.75</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130814">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130822">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156000">17.49</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156002">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156004">17.11</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="130830">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130840">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130848">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156012">-2.48</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156014">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156016">-2.08</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130856">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130864">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156018">-3.26</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156020">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156022">-2.87</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130872">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="130880">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156024">-3.68</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156026">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156028">-3.33</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="130888">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156030">-4.76</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156032">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156034">-4.52</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="130898">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156036">2034</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156038">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156040">2036</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="30" href="#wwfootnote_inline_30">a</a>
</div>
<div class="TableFootnote"><a name="131028">The taxable ratio is the ratio of taxable payroll to OASDI covered earnings. These concepts are described in further detail in section V.C.6 of this report.</a></div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="31" href="#wwfootnote_inline_31">b</a>
</div>
<div class="TableFootnote"><a name="131248">The taxable ratio assumptions used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II. </a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="103017">Because the combined employee-employer tax rate of 12.4&nbsp;percent is unchanged across all alternatives, the income rate changes a relatively small amount as the taxable ratio increases, due to changes in taxation of benefits and the initial fund as a percentage of taxable payroll.</a></div>
<div class="Body"><a name="133371">For the 25-year period, the cost rate decreases with increasing taxable ratios, from 16.81&nbsp;percent (for a taxable ratio in 2033 of 81.0&nbsp;percent) to 16.34&nbsp;percent (for a taxable ratio in 2033 of 84.0&nbsp;percent). For the 50-year period, it decreases from 17.18&nbsp;percent to 16.75&nbsp;percent and, for the 75-year period, it decreases from 17.49&nbsp;percent to 17.11&nbsp;percent. The actuarial balance increases from ‑2.48&nbsp;percent to ‑2.08&nbsp;percent for the 25-year period, from ‑3.26&nbsp;percent to ‑2.87&nbsp;percent for the 50-year period, and from ‑3.68&nbsp;percent to ‑3.33&nbsp;percent for the 75‑year period.</a></div>
<div class="Body"><a name="135297">The cost rate decreases with an increase in taxable payroll because the increase in taxable payroll occurs immediately. The increase in benefit amounts occurs much more gradually as new beneficiaries become entitled. In addition, the change in the taxable ratio does not affect COLAs or the national average wage index. Each 1.0&nbsp;percentage-point increase in the taxable ratio in 2033 increases (improves) the long-range actuarial balance by about 0.12&nbsp;percent of taxable payroll.</a></div>
<div class="Subsection">
<span style="list-style-type: decimal">8. </span><span class="Link"><a href="VI_I_glossary.html#1045205" title="I. GLOSSARY" name="131551">Disability Incidence</a></span> Rates</div>
<div class="Body"><a name="93717">Table </a><a href="#113229" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D8</a> shows selected measures of OASDI actuarial status on the basis of alternative II with three different assumptions about future disability incidence rates. Under the Trustees’ assumptions, the ultimate age-sex-adjusted<sup><a name="wwfootnote_inline_60" href="#60">2</a></sup> incidence rate is 3.6, 4.5, and 5.4 awards per thousand exposed for alternatives I, II, and III, respectively. These ultimate rates are reached by 2033 under all three alternatives. Under the Trustees’ assumptions, incidence rates by age and sex for all three alternatives vary during the early years of the projection period before reaching their long-term average values.</div>
<table class="SensitivityDIIncidence" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D8.—</span><a name="113229">Sensitivity of OASDI Measures to Disability Incidence Assumptions&nbsp;</a></div>
<div class="TableSubTitle"><a name="113231">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="113241">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="113245"><!--o--></a>Ultimate disability incidence rate<sup><a name="wwfootnote_inline_26" href="#26">a</a></sup></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="113255">3.6</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="113257">4.5</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="113259">5.4</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="113261">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="113271">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="113276">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="156051">14.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="156053">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="156055">14.31</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113284">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113289">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156057">13.89</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156059">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156061">13.92</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113297">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113302">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156063">13.79</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156065">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156067">13.81</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="113310">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113320">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113325">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156075">16.29</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156077">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156079">16.86</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113333">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113338">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156081">16.63</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156083">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156085">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113346">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113351">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156087">16.95</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156089">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156091">17.65</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL"><span class="CellBodyBold"><a name="113359">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113369">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113374">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156099">-2.00</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156101">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156103">-2.55</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113382">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113387">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156105">-2.74</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156107">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156109">-3.38</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113395">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="113400">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156111">-3.16</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156113">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156115">-3.84</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="113408">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156117">-4.23</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156119">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156121">-5.10</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="113418">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156123">2036</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156125">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156127">2034</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="26" href="#wwfootnote_inline_26">a</a>
</div>
<div class="Footnote"><a name="136899">The disability incidence rates used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="94461">For the 25-year period, the cost rate increases with increasing disability incidence rates, from 16.29&nbsp;percent (for the relatively low rates assumed for alternative I) to 16.86&nbsp;percent (for the relatively high rates assumed for alternative III). For the 50-year period, it increases from 16.63&nbsp;percent to 17.30&nbsp;percent, and for the 75-year period, it increases from 16.95&nbsp;percent to 17.65&nbsp;percent. The actuarial balance decreases from ‑2.00&nbsp;percent to ‑2.55&nbsp;percent for the 25-year period, from -2.74&nbsp;percent to -3.38&nbsp;percent for the 50-year period, and from -3.16&nbsp;percent to ‑3.84&nbsp;percent for the 75-year period.</a></div>
<div class="Subsection">
<span style="list-style-type: decimal">9. </span><span class="Link"><a href="VI_I_glossary.html#1005559" title="I. GLOSSARY" name="93910">Disability Termination</a></span> Rates</div>
<div class="Body"><a name="114164">Table </a><a href="#122297" title="D. LONG-RANGE SENSITIVITY ANALYSIS">VI.D9</a> shows selected measures of OASDI actuarial status on the basis of alternative&nbsp;II with three different assumptions about future disability termination rates, including deaths and recoveries. </div>
<div class="Body"><a name="124910"><!--o--></a>Under the Trustees’ assumptions, death rates for disabled-worker beneficiaries for all three alternatives decline throughout the long-range period. The age-sex-adjusted death rate<sup><a name="wwfootnote_inline_61" href="#61">3</a></sup> of 26.8 deaths per thousand disabled-worker beneficiaries in 2023 declines to 21.5, 12.4, and 6.2 deaths per thousand in 2098 for alternatives I, II, and III, respectively. These levels are about 20&nbsp;percent, 54&nbsp;percent, and 77&nbsp;percent lower, respectively, than the level in 2023. For this sensitivity analysis, total population death rates by age and sex are assumed to be the same as those used for the alternative II assumptions.</div>
<div class="Body"><a name="122292">The ultimate age-sex-adjusted</a><span style="vertical-align: super"> </span>recovery rate<sup><a name="wwfootnote_inline_62" href="#62">4</a></sup> used for this analysis is 13.0&nbsp;recoveries per thousand disabled-worker beneficiaries for the alternative I assumptions, 10.8&nbsp;recoveries per thousand disabled-worker beneficiaries for the alternative II assumptions, and 8.6&nbsp;recoveries per thousand disabled-worker beneficiaries for the alternative III assumptions.</div>
<table class="SensitivityDITermination" cellspacing="0" summary="">
<caption>
<div class="TableTitle">
<span style="list-style-type: decimal">Table VI.D9.—</span><a name="122297">Sensitivity of OASDI Measures to Disability Termination Assumptions</a></div>
<div class="TableSubTitle"><a name="122301">[As a percentage of taxable payroll]</a></div>
</caption>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 180pt" rowspan="2" colspan="2">
<div class="CellHeading"><a name="122311">Valuation period</a></div>
</th>
<th style="background-color: #FFFFFF; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 143.856pt" colspan="3">
<div class="CellHeading"><a name="122315"><!--o--></a>Disability termination rates<br />(death; recovery)<sup><a name="wwfootnote_inline_28" href="#28">a</a></sup></div>
</th>
</tr>
<tr>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="122325">21.5; 13.0</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="122327">12.4; 10.8</a></div>
</th>
<th style="background-color: #FFFFFF; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding-bottom: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellHeadingR"><a name="122329">6.2; 8.6</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 323.856pt" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="122331">Summarized income rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 7.2pt">
<div class="CellBodyL"><a name="122341">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 172.8pt">
<div class="CellBodyL"><a name="122346">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="156136">14.29</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="156138">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; width: 47.952pt">
<div class="CellBody"><a name="156140">14.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122354">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122359">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156142">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156144">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156146">13.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122367">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122372">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156148">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156150">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156152">13.80</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="122380">Summarized cost rate:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122390">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122395">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156160">16.52</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156162">16.57</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156164">16.62</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122403">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122408">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156166">16.90</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156168">16.96</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156170">17.01</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122416">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122421">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156172">17.22</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156174">17.30</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156176">17.35</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="5">
<div class="CellBodyL" style="color: #000000; font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none; vertical-align: baseline"><span class="CellBodyBold"><a name="122429">Actuarial balance:</a></span></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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122439">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122444">25-year: 2024-48 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156184">-2.23</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156186">-2.28</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156188">-2.32</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122452">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122457">50-year: 2024-73 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156190">-3.00</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156192">-3.06</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156194">-3.11</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122465">&nbsp;</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBodyL"><a name="122470">75-year: 2024-98 </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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156196">-3.42</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156198">-3.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156200">-3.55</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="122478">Annual balance for 2098</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156202">-4.50</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156204">-4.64</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156206">-4.74</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom" colspan="2">
<div class="CellBodyL"><span class="CellBodyBold"><a name="122488">Year of combined trust fund reserve depletion</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156208">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156210">2035</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: 0.5pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom">
<div class="CellBody"><a name="156212">2035</a></div>
</td>
</tr>
</table>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="28" href="#wwfootnote_inline_28">a</a>
</div>
<div class="Footnote"><a name="137007">The disability termination rates used for this analysis are consistent with those assumed for the three alternative scenarios. All other assumptions used for this analysis are from alternative II.</a></div>
<br style="clear: both" />
<div class="BodyAfterTable"><a name="94108">For the 25-year period, the cost rate increases with decreasing disability termination rates, from 16.52&nbsp;percent (for the relatively high termination rates assumed for alternative I) to 16.62&nbsp;percent (for the relatively low termination rates assumed for alternative III). For the 50-year period, it increases from 16.90&nbsp;percent to 17.01&nbsp;percent, and for the 75-year period, it increases from 17.22&nbsp;percent to 17.35&nbsp;percent. The actuarial balance decreases from ‑2.23&nbsp;percent to -2.32&nbsp;percent for the 25-year period, from -3.00&nbsp;percent to ‑3.11&nbsp;percent for the 50-year period, and from -3.42&nbsp;percent to ‑3.55&nbsp;percent for the 75-year period.</a></div>
<hr />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="59" href="#wwfootnote_inline_59">1</a>
</div>
<div class="Footnote"><a name="154378">Based on the enumerated total population as of April 1, 2010, if that population were to experience the death rates by age and sex for the selected year.</a></div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="60" href="#wwfootnote_inline_60">2</a>
</div>
<div class="Footnote"><a name="139121">Age-sex-adjusted to the disability-exposed population as of the year 2000.</a></div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="61" href="#wwfootnote_inline_61">3</a>
</div>
<div class="Footnote"><a name="137178"> Age-sex-adjusted to the disabled-worker population as of the year 2000.</a></div>
<br style="clear: both" />
<div style="font-size: smaller; float: left; padding-right: 10px">
<a name="62" href="#wwfootnote_inline_62">4</a>
</div>
<div class="Footnote"><a name="151869">Age-sex-adjusted to the disabled-worker population as of the year 2000. </a></div>
<br style="clear: both" />
</blockquote>
<hr align="left" />
<div style="text-align: left;">
<table cellspacing="0">
<tr>
<td>
<a href="trTOC.html"><img src="images/toc.gif" alt="Table of Contents" border="0" /></a>
</td>
<td>
<a href="VI_C_SRfyproj.html"><img src="images/prev.gif" alt="Previous" border="0" /></a>
</td>
<td>
<a href="VI_E_stoch.html"><img src="images/next.gif" alt="Next" border="0" /></a>
</td>
<!-- The following adds the table icon and link to the navbar -->
<td>
<a href="X1_trLOT.html">
<img src="images/tables.gif" alt="Tables" border="0" />
</a>
</td>
<!-- The following adds the figures icon and link to the navbar -->
<td>
<a href="X2_trLOF.html">
<img src="images/figures.gif" alt="Figures" border="0" />
</a>
</td>
<td>
<a href="ix.html"><img src="images/index.gif" alt="Index" border="0" /></a>
</td>
</tr>
</table>
</div>
<style type="text/css" media="print">
<!-- .printhide { display: none; } -->
</style>
<style type="text/css" media="all">
<!-- .seventypercent { font-size: 70%; } -->
</style>
<table class="printhide" width="100%" border="0" cellpadding="1" cellspacing="0">
<tr bgcolor="#333366">
<td height="1" valign="top" colspan="3"></td>
</tr>
<tr>
<td valign="top" class="seventypercent">
<a href="http://www.ssa.gov/">SSA Home</a>
| <a href="http://www.ssa.gov/privacy.html">Privacy Policy</a>
| <a href="http://www.ssa.gov/websitepolicies.htm">Website Policies
&amp; Other Important Information</a>
| <a href="http://www.ssa.gov/sitemap.htm">Site Map</a>
| <a href="../../pubs.html">Actuarial Publications</a></td>
<td align="right" class="seventypercent">May 6, 2024</td>
</tr>
</table>
</body>
</html>
Reference in a new issue View git blame Copy permalink