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APPENDIX TO THE BUDGET FOR FISCAL YEAR 1966

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Relation of obligations to expenditures:

Total obligations-
Receipts and other offsets -

Obligations affecting expenditures..

136 -128

128 -128

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Unappropriated balance, end of year..

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71

8

104,742

105,867

106,364

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1964 actual

1965 estimate

1966 estimate

Under the Federal old-age and survivors insurance system, workers, employers, and self-employed individuals make annual contributions in the form of taxes on earnings toward the benefits which will be payable when the worker retires or when he dies. An amount equal to the annual contributions is deposited in this trust fund for benefit payments and administrative expenses. Any excess of income over outgo together with annual interest is invested in Government securities (42 U.S.C. 401).

Payments are made between this trust fund and the Railroad retirement account so as to place this fund in the same position in which it would have been if railroad employment after 1936 had been included in social security coverage (45 U.S.C. 228E).

The status of the trust fund, including proposed legislation, is as follows (in thousands of dollars):

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25.0 Other services:

Office of Audit, Office of the

Secretary of Health, Educa-
tion, and Welfare. ---

493
Office of the Secretary of Health,
Education, and Welfare...

467
479

483 Office of the General Counsel,

Office of the Secretary of
Health, Education, and Wel-
fare...

871
878

850 Office of Field Administration,

Office of the Secretary of
Health, Education, and Wel-
fare...

1,302 1,308 1,328 42.0 Insurance claims and indemnities. 14,579,166 | 15,253,000 16,030,000 92.0 Undistributed:

Payments to miscellaneous re

ceipts as reimbursements for
administrative expenses

49,074 51,352 44,507
Payment to "Railroad Retire-
ment Account” (net settle-

ment) (45 U.S.C. 228E). 402,636 399,400 411,000 93.0 Administrative expenses “Limita

tion on Salaries and expenses,'

Social Security Administration.. 307.204 331,626 358,092 Construction program.

211 5,237 12,534 99.0 Total obligations.

15,340,931 | 16,043,280 16,859,287

14,488,597 14,583,000 16,080,000

-1,000 -27,000 -152, 470 -186,000 - 193,000 1,166,599 1,223,000 1,341,000

539,044 566, 228 597,212

2,508

96

3,112

100

3,242

100 -332,000

56,000

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Proposed for separate transmittal:

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Cash outgo during year:

For benefit payments.
For administrative expenses (net of reim-

bursements from disability fund):
Authorized
Proposed increase in limitation due to

pay increase.. For construction and equipment of build

ings.. Payment to Railroad retirement account

(net settlement) (45 U.S.C. 228E).Proposed increase in cash outgo-

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Total annual outgo.

15,284,607 15,966, 180 18,628,818

Program by activities: 10 Benefit payments, administration,

and payment to "Railroad retirement account"-obligations.

1,858,000

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New obligational authority:
Proposed increase in payments for

1. Benefit payments.—The Social Security Act provides military service credits.

56,000 disability insurance benefits for certain disabled individProposed reduction in receipts.

-332.000

uals and their dependents. Under current law an amount

equal to one-half of 1% of wages paid and three-eighths of Relation of obligations to expendi

1% of self-employment income is allocated to this fund for

benefit payments and administrative expenses. The 71 Total obligations (affecting expenditures) --

1,858,000 excess of income over outgo and annual interest are

invested in Government securities, 90 Expenditures--

1,858,000

2. Administration.-The Secretary of Health, Educa

tion, and Welfare determines, at the end of each year Under proposed legislation, 1966.--Improvements in the that portion of the administrative expenses of the DepartOld-Age and Survivors Insurance program will provide a ment of Health, Education, and Welfare which is a proper 7% benefit increase to beneficiaries, effective as of Janu- charge to this fund. The amount shown herein for the ary 1, 1965, and extend coverage to certain groups and administrative expenses includes interest on the unpaid types of earnings not previously under the system. These charges and is subject to further refinement of the procimprovements, along with the hospital insurance program,

esses for allocating costs between the Federal old-age and will be financed by an increase in the covered wage base

survivors insurance trust fund and the Federal disability from $4,800 to $5,600 and in the combined tax rate from the scheduled 8.25% to 8.50%, effective January 1, 1966.

insurance trust fund (42 U.S.C. 401). Notwithstanding the receipts from the proposed reim- Annual payments are made between this account and bursement for military service credits, there is a slight

the railroad retirement account so as to place these funds decline in receipts due to a lower portion of the total tax in the same position in which they would have been if being allocated to the OASI trust fund.

railroad employment had been included under social security coverage (45 U.S.C. 228E).

The status of the trust fund, including proposed legis-
SOCIAL SECURITY ADMINISTRATION

lation, is as follows (in thousands of dollars):
FEDERAL DISABILITY INSURANCE TRUST FUND
Program and Financing (in thousands of dollars)

1964 actual 1965 estimate 1966 estimele
Unexpended balance brought forward:
Cash..

116,468 125, 478
Identification code

U.S. securities (par)
09-30-8007-0-7-654
actual

2,277,967
Gain from premium or discount on
investments ----

-723 -2,416
Program by activities:
1. Benefit payments.

1,251,207 1,416,000 1,485,000 Balance of fund, start of year.... 2,393,712
2. Administration..

70,199 82,173 88,346
3. Payment to Railroad retire-

Cash income during year:
ment account.
19,139 19,800 20,100 Taxes:

Appropriated..
Total obligations..
10
1,340,545 1,517,973

1,070,186
1,593,446 Refund of taxes.

-13,330

Deposits by States.
Financing:

86,305 91,000

Interest on investments 21 Unobligated balance available,

67,660

Proposed increase in tax income.--
start of year:

Proposed increase in payments for
Treasury balance..

-116,468 -125,478 -125,511
U.S. securities (par)
-2,277,967 -2,140,925 -1.844,911

military service credits..
Gain from premium or discount

Total annual income..
on investments...
723 2,416 2,342

1,210,821

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1964

1965 estimate

1966 estimate

125,511 2,140,925 1,844,911

-2,342

2,263,987 1.968,080

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-- 14,000

1,081,000 1,119,000 -14.000

95,000 64,065

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57,293 194,000

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1.222,065 1,455,19

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