Short-Range Actuarial Projections of the Old-Age, Survivors, and Disability Insurance Program, 2001
Actuarial Study No. 115
Chris Motsiopoulos and Tim Zayatz, A.S.A.
 Contents Glossary




 

III. BENEFIT PAYMENTS

E. OLD-AGE AND SURVIVORS INSURANCE BENEFIT PAYMENTS

Table III.E24—Non-Current-Payment Benefits to Retired Workers and Dependents,
Other Than Benefits Due to AERO
(Calendar years 1975-2010)
[Numbers in thousands, amounts in millions]
Year
Awards to retired workers during year
  Benefit increase
factor
  All other
factors
  Non-current-
payment benefits
other than AERO
  Number
  Average benefit
1975
1,505.8
$213.00
0.9615
2.8150
$868.1
1976
1,475.8
233.13
.9690
2.8170
939.1
1977
1,593.6
254.46
.9713
2.8534
1,123.9
1978
1,472.8
278.78
.9685
1.7647
701.7
1979
1,590.8
317.40
.9528
1.3355
642.5
1980
1,612.7
363.09
.9333
.9437
515.7
1981
1,579.0
402.07
.9470
1.4956
899.1
1982
1,618.4
412.60
.9643
.9338
601.3
1983
1,662.3
421.75
.9662
1.8023
1,220.8
1984
1,604.2
429.16
.9662
.9440
627.9
1985
1,682.4
445.04
.9699
.4925
357.7
1986
1,726.2
458.80
.9872
.2302
179.9
1987
1,660.7
485.47
.9597
.0968
74.9
1988
1,644.8
507.13
.9615
.2645
212.1
1989
1,641.3
540.58
.9551
.4914
416.5
1990
1,654.1
579.01
.9488
.6616
601.2
1991
1,680.2
604.31
.9643
.5866
574.4
1992
1,700.5
626.34
.9709
.5958
616.1
1993
1,657.3
646.82
.9747
.3417
357.0
1994
1,623.8
668.94
.9728
.2929
309.5
1995
1,608.1
689.06
.9747
.4257
459.7
1996
1,580.4
713.41
.9718
.4997
547.5
1997
1,717.8
738.23
.9794
1.1195
1,390.5
1998
1,630.7
754.31
.9872
1.3138
1,595.4
1999
1,689.2
795.43
.9766
1.0043
1,317.8
2000
1,959.4
869.43
.9662
1.9283
3,173.9
2001
1,741.6
892.62
.9728
1.0000
1,512.3
2002
1,814.8
939.37
.9718
1.0000
1,656.7
2003
1,840.5
972.89
.9709
1.0000
1,738.5
2004
1,953.9
1,001.52
.9699
1.0000
1,898.0
2005
2,044.5
1,036.68
.9690
1.0000
2,053.8
2006
2,079.2
1,083.41
.9681
1.0000
2,180.6
2007
2,138.0
1,139.42
.9681
1.0000
2,358.3
2008
2,354.1
1,184.22
.9681
1.0000
2,698.7
2009
2,641.3
1,234.64
.9681
1.0000
3,156.9
2010
2,674.9
1,287.12
.9681
1.0000
3,332.9

Sources:

· Number and average benefit shown earlier.

· Benefit increase factor computed as 1 divided by sum of (a) 1, and (b) general benefit increase occurring in that period times number of months for which that increase did not apply divided by 12 (for years) or 3 (for quarters).

· All other factors computed historically by dividing (a) non-current-payment benefits by (b) number of awards times average benefit times benefit increase factor.

· Historical total non-current-payment benefits other than benefits due to AERO computed by subtracting current-payment benefits (shown earlier) and benefits due to AERO from total benefits from Treasury Statement of Account. Future non-current-payment benefits other than benefits due to AERO computed as number of awards times average benefit times benefit increase factor times all other factors.

Note: Future estimates based on 2001 Trustees Report intermediate set of assumptions.

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December 26, 2001