INDEX A Actuarial balance 10, 15, 50, 163, 177 Actuarial deficit 4, 15, 22, 68, 208 Actuarial estimates, LR 50 Actuarial estimates, SR 39 Adjusted program amounts 113 Administrative expenses 6, 34, 51, 150, 154, 171, 209, 217 Advance tax transfers 39, 63, 156 Amendments 36 Annual balance 20, 50, 73 Asset reserves 2, 6, 9, 28, 171, 184, 203 Assumptions 9, 79, 97, 113, 163, 177, 204, 209, 214, 226 Automatic cost-of-living benefit increase 43, 98, 113 Auxiliary benefits 123 Average benefits 147 Average earnings assumptions 100 Average indexed monthly earnings (AIME) 116 Average wage index 113, 214 Award 125 B Baby-boom generation 3, 22, 51, 60, 106, 132 Bend points 116 Beneficiaries, DI 131 Beneficiary 12, 43, 60, 79, 114, 166, 178, 209, 217, 226 Beneficiary, OASI 125 Benefit payments 6, 51, 147, 154, 171 Benefit termination 8 Best estimate 8, 37, 79 Board of Trustees 37, 97, 152 C Constant dollars 219 Consumer Price Index 98, 182, 214, 231 Contribution and benefit base 42, 100, 114, 231 Contributions 6, 152, 171, 203, 209, 217, 230 Cost 2, 6, 28, 46 Cost rate 4, 51, 203 Cost-of-living adjustment 113 Covered earnings 6, 113, 213 Covered employment 8, 42, 100, 121, 152, 181 Covered worker 62, 179 Creditable earnings 233 Current dollars 214 Current-payment status 45, 136, 137, 138, 231 D Deemed wage credit 51 Delayed retirement credit 120 Demographic assumptions 8, 20, 37, 80, 106, 113, 163, 215, 230 Deterministic model 189, 198 DI beneficiaries 131 Disability 152, 180, 226 Disability conversion ratio 136 Disability incidence rate 79, 131, 134, 180, 186, 230 Disability Insurance Trust Fund 232 Disability prevalence rate 138, 140 Disability termination rate 187 Disabled-worker benefit 134, 234 Disbursements 37 E Earnings 2, 6, 51, 100, 114, 152, 164, 203, 213, 214, 230 Earnings test 101, 114, 231 Economic assumptions 8, 20, 37, 48, 97, 106, 113, 163, 215, 230 Excess wages 51, 214 Expenditures 37, 235 F Federal Insurance Contributions Act 203, 240 Fertility assumptions 80 Financial interchange 6, 150, 154 Fiscal year 156, 170 Full advance funding 235 G General Fund of the Treasury 41, 43, 45, 47, 156, 158, 160, 174, 175, 176, 230 General fund reimbursement 236 Gross domestic product 4, 10, 57, 79, 98, 108, 209 Gross domestic product projections 108 H High-cost assumptions 8, 17, 37, 52, 79, 97, 135, 177, 197, 204, 210, 214, 230 Hospital Insurance program 144, 203, 238 Hospital Insurance Trust Fund 209 I Immigration 8, 79, 85, 180, 189, 230, 237 Immigration assumptions 85 Income rate 4, 11, 51, 203 Infinite horizon 10 Inflation 8, 79, 98, 214, 230 Inflation assumptions 98 Insured population 8, 122 Insured status 118 Interest 109, 153, 163, 171, 205, 230 Interest rate 79, 163, 184, 230 Interest rate projections 109 Interest rates 8 Interfund borrowing 156, 237 Intermediate assumptions 8, 37, 43, 52, 79, 134, 177, 205, 210, 214, 218, 219, 220, 226, 230 L Labor force projections 105 Lawful Permanent Resident (LPR) immigration 85 Legal immigration 237, 238 Life expectancy 4, 22, 79, 94, 105, 238 Life expectancy estimates 93 Long range 10, 50, 80, 125, 163, 203, 209 Low-cost assumptions 8, 17, 37, 52, 79, 97, 135, 177, 197, 204, 214, 230 Lump-sum death payment 148 M Medicare 81, 238 Military service 51, 152, 156, 158, 160 N National average wage index 214 Normal retirement age 114, 131, 148, 233 O OASI beneficiaries 125 Old-Age and Survivors Insurance Trust Fund 152, 232 Old-law base 118 Other immigration 239 Other-than-LPR immigration 85 P Par value 154 Partial advance funding 240 Pay-as-you-go financing 163 Payroll taxes 2, 113, 141, 166, 199, 203, 217 Population estimates 91 Population in the Social Security area 42, 62, 91, 121, 180 Present value 163 Primary insurance amount (PIA) 116 Productivity assumptions 98 Q Quarters of coverage 122 R Railroad Retirement 51, 67, 118, 150, 154, 171, 172, 173, 203, 209, 217, 232 Reallocation of tax rates 241 Real-wage differential 103, 181 Retired-worker benefit 125, 179, 226 Retirement age 114, 148, 233 Retirement earnings test 100, 114 Retirement eligibility age 180 S Scenario-based model 241 Scheduled benefits 183, 209, 217, 228, 241 Self-employment 51, 99, 204, 240 Self-Employment Contributions Act 240, 241 Sensitivity analysis 177 Short range 9, 39, 125 Social Security Act 113, 153, 214, 226, 232 Social Security amendments 36 Solvency 242 Special public-debt obligation 112, 153, 184 Stochastic projections 189 Substantial gainful activity 131, 234 Summarized balance 210 Summarized income and cost rates 67, 163, 177, 207, 230 Supplemental Security Income 171 Supplementary Medical Insurance program 203, 238 Survivor benefit 2, 7, 128, 231 Sustainable solvency 63, 64 T Taxable earnings 42, 62, 114, 164, 231 Taxable payroll 4, 22, 51, 99, 122, 163, 178, 203, 209, 214, 232 Taxable ratio 185 Taxable self-employment income 243 Taxable wages 146, 204, 244 Taxation of benefits 6, 146, 209, 217, 237 Taxes 6, 113, 204 Termination 79 Termination rate 8, 125, 187, 230 Test of long-range close actuarial balance 50, 63, 65 Test of short-range financial adequacy 3, 9, 10, 39, 40, 65, 66, 241, 244 Total fertility rate 80, 177 Trust fund financial operations 6, 24, 39, 152 Trust fund ratio 9, 39, 50, 63, 156, 174, 246 Trust fund reserves 39 U Unemployment projections 105 Unfunded obligation 4, 10, 15, 17, 50, 70, 71, 200, 201, 239, 246, 247 Unnegotiated check 171 V Valuation period 15, 48, 50, 163, 177, 207, 230 Vocational rehabilitation 51, 154, 172, 209, 217, 228, 232 Y Year of depletion 11, 14, 50, 65
