A Actuarial balance 9, 11, 46, 115, 151, 162 Actuarial balance, long-range test 69 Actuarial deficit 3, 11, 20, 60, 184 Actuarial estimates, LR 46 Actuarial estimates, SR 35 Adjusted program amounts 107 Administrative expenses 5, 31, 47, 135, 142, 156, 185, 193 Advance tax transfers 56, 144 Amendments 33 Annual balance 18, 46, 71 Assets 2, 5, 8, 25, 35, 47, 142, 156, 169, 179, 191 Assumptions 2, 8, 47, 76, 92, 107, 151, 162, 180, 185, 190, 203 Automatic cost-of-living benefit increase 39, 94, 107 Auxiliary benefits 117 Average benefits 135 Average earnings assumptions 95 Average indexed monthly earnings (AIME) 110 Average wage index 107, 190 Award 118 B Baby-boom generation 2, 20, 39, 48, 52, 101, 126 Bend points 110 Beneficiaries, DI 124 Beneficiary 10, 39, 52, 76, 108, 154, 163, 185, 193, 203 Beneficiary, OASI 118 Benefit payments 5, 36, 47, 135, 142, 156, 168, 185, 193, 205 Benefit termination 7, 40 Best estimate 7, 20, 35, 76 Board of Trustees 35, 92, 138 C Close actuarial balance 46, 66 Closed group unfunded obligation 66, 209 Constant dollars 195 Consumer Price Index 94, 168, 190, 208 Contribution and benefit base 37, 95, 108, 139, 190, 208 Contributions 5, 138, 156, 179, 185, 193, 207 Cost 2 Cost rate 3, 9, 47, 115, 179 Cost-of-living adjustment 107 Covered earnings 5, 107, 189 Covered employment 7, 37, 95, 114, 138, 167 Covered worker 54, 114, 165 Creditable earnings 210 Current dollars 190 Current-payment status 39, 125, 129, 130, 131, 208 D Deemed wage credit 47, 115 Delayed retirement credit 113 Demographic assumptions 7, 18, 35, 47, 77, 101, 107, 151, 191, 207 Deterministic model 173, 178, 211 DI beneficiaries 124 Disability 138, 165, 203 Disability conversion ratio 129 Disability incidence rate 76, 125, 127, 165, 170, 207 Disability Insurance Trust Fund 209 Disability prevalence rate 125, 131, 133 Disability termination rate 171 Disabled-worker benefit 127, 211 Disbursements 22, 23, 24, 27, 29, 35, 156, 157, 158, 204, 205 E Earnings 2, 5, 36, 47, 95, 108, 138, 152, 179, 189, 190, 207 Earnings test 95, 108, 208 Economic assumptions 7, 18, 35, 44, 47, 92, 101, 107, 151, 191, 207 Excess wages 47, 115, 191 Expenditures 5, 7, 26, 32, 35, 39, 42, 142, 143, 145, 147, 211 F Federal Insurance Contributions Act 179, 209 Fertility assumptions 78 Financial interchange 5, 136, 142 Fiscal year 81, 144, 156 Full advance funding 212 G General Fund of the Treasury 38, 39, 140, 207 General fund reimbursement 212 Gross domestic product 3, 52, 76, 93, 103, 185 Gross domestic product projections 103 H High-cost assumptions 7, 15, 35, 36, 48, 76, 92, 128, 162, 177, 180, 185, 190, 207 Hospital Insurance program 139, 179, 215 Hospital Insurance Trust Fund 185 I Immigration 7, 76, 77, 80, 84, 165, 173, 207, 213 Immigration assumptions 80 Income rate 3, 9, 47, 179 Inflation 7, 76, 94, 190, 207 Inflation assumptions 94 Insured population 7, 116 Insured status 112 Interest 36, 104, 141, 151, 156, 180, 185, 191, 207 Interest rate 37, 76, 151, 169, 191, 207 Interest rate projections 103 Interfund borrowing 144, 210 Intermediate assumptions 7, 35, 37, 39, 48, 76, 128, 162, 181, 185, 190, 194, 195, 196, 203, 207 L Labor force projections 100 Legal immigration 81, 85, 214 Life expectancy 2, 20, 76, 88, 100, 214 Life expectancy estimates 88 Long range 9, 46, 77, 92, 118, 151, 179, 185, 190 Low-cost assumptions 7, 15, 35, 48, 76, 92, 128, 162, 177, 180, 190, 207 Lump-sum death payment 135 M Medicare 79, 215 Military service 38, 47, 95, 115, 136, 138, 212 N National average wage index 107, 190 Normal retirement age 108, 124, 199, 210 O OASI beneficiaries 118 Old-Age and Survivors Insurance Trust Fund 138, 209 Old-law base 112 Open group unfunded obligation 3, 9, 18, 46, 63, 177, 209, 215 Other immigration 81, 166, 216 P Par value 141 Partial advance funding 216 Pay-as-you-go financing 151 Payroll taxes 2, 21, 61, 107, 115, 154, 162, 179, 193 Population estimates 85 Population in the Social Security area 37, 55, 85, 114, 166 Present value 151 Primary insurance amount (PIA) 110 Productivity assumptions 93 Q Quarters of coverage 116 R Railroad Retirement 47, 112, 136, 142, 156, 179, 185, 193, 210 Reallocation of tax rates 217 Real-wage differential 98, 166 Recession 35 Retired-worker benefit 118, 165, 203 Retirement age 40, 108, 199, 210 Retirement earnings test 95, 108 Retirement eligibility age 1, 165 S Self-employment 47, 94, 115, 138, 180, 209 Self-Employment Contributions Act 209, 218 Sensitivity analysis 162 Short range 8, 35, 92, 118 Social Security Act 107, 141, 190, 203, 209 Social Security amendments 33 Solvency 14, 46, 218 Special public-debt obligation 39, 106, 141, 169, 191 Stochastic projections 173 Substantial gainful activity 124, 211 Summarized balance 186 Summarized income and cost rates 60, 151, 162, 183, 207 Supplemental Security Income 156 Supplementary Medical Insurance program 179, 215 Survivor benefit 2, 6, 121, 208 T Taxable earnings 36, 55, 108, 138, 152, 189, 208 Taxable payroll 3, 9, 20, 47, 94, 115, 151, 163, 179, 185, 190, 210 Taxable self-employment income 138, 220 Taxable wages 116, 140, 220 Taxation of benefits 5, 47, 136, 185, 193, 213 Taxes 5, 107, 138, 180, 210 Termination 40, 76 Termination rate 7, 40, 118, 171, 207 Test of short-range financial adequacy 36, 67, 218 Total fertility rate 78, 162 Trust fund financial operations 5, 22, 36, 138 Trust fund ratio 8, 35, 46, 56, 144, 159, 222 U Unemployment projections 100 Unfunded obligation 3, 9, 12, 14, 18, 46, 63, 66, 177, 209, 215, 222 Unnegotiated check 144, 156 V Valuation period 11, 46, 151, 162, 183, 207 Vocational rehabilitation 47, 142, 157, 185, 193, 205, 210 Y Year of exhaustion 9, 11, 21, 46, 58
