[Excerpt] This report presents additional information about CBO’s long-term projections for Social Security in the form of 12 exhibits that illustrate the program’s finances and the distribution of benefits paid to and payroll taxes collected from various groups of people. In addition to presenting projections of scheduled, or full, Social Security benefits, which are calculated under the Social Security Act without regard to the trust funds’ balances, this report provides projections of payable benefits, which would be less than the scheduled amounts once the trust funds were exhausted because annual outlays would be limited to annual revenues credited to the program. The appendix presents information about CBO’s demographic projections, and a list of definitions of common terms appears at the end of the publication.