Actuarial status of the Old-Age and Survivors Insurance and Disability Insurance Trust Funds

This article summarizes the current financial and actuarial status of the Old-Age, Survivors, and Disability Insurance (OASDI) program. The data presented are from the 1983 Trustees Report for the program following enactment of the Social Security Amendments of 1983. The actuarial estimates show that benefits can be paid on time throughout the 1980's and for many years thereafter. However, trust fund levels are projected to be relatively low through 1987, and the program could again experience financial difficulties in the near future if economic conditions become worse than anticipated under the pessimistic Alternative III assumptions. After 1987, the program's ability to withstand economic downturns is projected to improve. On the basis of intermediate assumptions, the OASDI program is now in long-range actuarial balance. This actuarial balance reflects substantial year-by-year surpluses during the first half of the 75-year projection period that slightly outweigh substantial deficits later on.