Payroll & Benefits Liability to GSEs Other Liabilities Uni nt Lia Unfunded entitlement liabilities up 6x Y/Y Growth between F1996 and F2010. NPV of Unfunded Social Security . NPV of Unfunded Medicare 4,815 15,819 38,107 22.813 ‘Medicare NPV down sharply Y/Y owing to new assumptions from the Healthcare reform legislation