INDEX A Actuarial balance 11, 16, 52, 166, 180 Actuarial deficit 4, 16, 23, 70, 212 Actuarial estimates, LR 52 Actuarial estimates, SR 40 Adjusted program amounts 116 Administrative expenses 7, 35, 53, 153, 157, 174, 213, 221 Advance tax transfers 40, 65, 159 Amendments 37 Annual balance 21, 52, 75 Asset reserves 2, 7, 10, 29, 174, 187, 207 Assumptions 82, 100, 116, 166, 180, 208, 213, 218, 231 Automatic cost-of-living benefit increase 45, 101, 116 Auxiliary benefits 126 Average benefits 150 Average earnings assumptions 103 Average indexed monthly earnings (AIME) 119 Average wage index 116, 218 Award 128 B Baby-boom generation 3, 23, 53, 62, 109, 135 Bend points 119 Beneficiaries, DI 134 Beneficiary 13, 45, 62, 82, 117, 169, 181, 213, 221, 231 Beneficiary, OASI 128 Benefit payments 7, 53, 151, 157, 174 Benefit termination 9 Best estimate 9, 39, 82 Board of Trustees 39, 100, 155 C Constant dollars 223 Consumer Price Index 101, 186, 218, 236 Contribution and benefit base 44, 103, 117, 236 Contributions 7, 155, 174, 207, 213, 221, 235 Cost 2, 7, 29, 48 Cost rate 4, 53, 207 Cost-of-living adjustment 116 Covered earnings 7, 116, 217 Covered employment 9, 44, 103, 124, 155, 185 Covered worker 64, 183 Creditable earnings 238 Current dollars 218 Current-payment status 47, 139, 140, 141, 236 D Deemed wage credit 53 Delayed retirement credit 123 Demographic assumptions 9, 21, 39, 83, 109, 116, 166, 219, 235 Deterministic model 193, 202 DI beneficiaries 134 Disability 155, 183, 231 Disability conversion ratio 139 Disability incidence rate 82, 134, 137, 183, 190, 235 Disability Insurance Trust Fund 237 Disability prevalence rate 141, 143 Disability termination rate 191 Disabled-worker benefit 137, 239 Disbursements 39 E Earnings 2, 7, 53, 103, 117, 155, 167, 207, 217, 218, 235 Earnings test 103, 117, 236 Economic assumptions 9, 21, 39, 50, 100, 109, 116, 166, 219, 235 Excess wages 53, 218 Expenditures 39, 240 F Federal Insurance Contributions Act 207, 245 Fertility assumptions 83 Financial interchange 7, 154, 157 Fiscal year 159, 173 Full advance funding 240 G General Fund of the Treasury 43, 45, 47, 49, 159, 161, 163, 177, 178, 179, 235 General fund reimbursement 241 Gross domestic product 4, 11, 59, 82, 101, 111, 213 Gross domestic product projections 111 H High-cost assumptions 9, 18, 39, 54, 82, 100, 138, 180, 201, 208, 214, 218, 235 Hospital Insurance program 147, 207, 243 Hospital Insurance Trust Fund 213 I Immigration 9, 82, 88, 183, 193, 235, 242 Immigration assumptions 88 Income rate 4, 12, 53, 207 Infinite horizon 11 Inflation 9, 82, 101, 218, 235 Inflation assumptions 101 Insured population 9, 125 Insured status 121 Interest 112, 156, 166, 174, 209, 235 Interest rate 82, 166, 187, 235 Interest rate projections 112 Interest rates 9 Interfund borrowing 159, 242 Intermediate assumptions 9, 39, 45, 54, 82, 137, 180, 209, 214, 218, 223, 226, 231, 235 L Labor force projections 108 Lawful Permanent Resident (LPR) immigration 89 Legal immigration 242, 243 Life expectancy 4, 23, 82, 97, 108, 243 Life expectancy estimates 96 Long range 11, 52, 83, 128, 166, 207, 213 Low-cost assumptions 9, 18, 39, 54, 82, 100, 138, 180, 201, 208, 218, 235 Lump-sum death payment 151 M Medicare 84, 243 Military service 53, 155, 159, 161, 163 N National average wage index 218 Normal retirement age 117, 134, 151, 238 O OASI beneficiaries 128 Old-Age and Survivors Insurance Trust Fund 155, 237 Old-law base 121 Other immigration 244 Other-than-LPR immigration 89 P Par value 156 Partial advance funding 245 Pay-as-you-go financing 166 Payroll taxes 2, 116, 145, 169, 203, 207, 221 Population estimates 94 Population in the Social Security area 44, 64, 94, 124, 184 Present value 166 Primary insurance amount (PIA) 119 Productivity assumptions 101 Q Quarters of coverage 125 R Railroad Retirement 53, 69, 121, 154, 157, 174, 175, 176, 207, 213, 221, 237 Reallocation of tax rates 246 Real-wage differential 105, 184 Retired-worker benefit 128, 183, 231 Retirement age 117, 151, 238 Retirement earnings test 103, 117 Retirement eligibility age 183 S Scenario-based model 246 Scheduled benefits 187, 213, 221, 233, 246 Self-employment 53, 101, 208, 245 Self-Employment Contributions Act 245, 246 Sensitivity analysis 180 Short range 10, 40, 128 Social Security Act 116, 156, 218, 231, 237 Social Security amendments 37 Solvency 247 Special public-debt obligation 115, 156, 187 Stochastic projections 193 Substantial gainful activity 134, 239 Summarized balance 214 Summarized income and cost rates 69, 166, 180, 211, 235 Supplemental Security Income 174 Supplementary Medical Insurance program 207, 243 Survivor benefit 2, 8, 131, 236 Sustainable solvency 65, 66 T Taxable earnings 44, 64, 117, 167, 236 Taxable payroll 4, 23, 53, 101, 125, 166, 181, 207, 213, 218, 237 Taxable ratio 188 Taxable self-employment income 248 Taxable wages 149, 208, 249 Taxation of benefits 7, 149, 213, 221, 242 Taxes 7, 116, 208 Termination 82 Termination rate 9, 128, 191, 235 Test of long-range close actuarial balance 52, 65, 67 Test of short-range financial adequacy 10, 11, 41, 67, 68, 249 Total fertility rate 83, 180 Trust fund financial operations 7, 25, 41, 155 Trust fund ratio 10, 40, 52, 65, 159, 177, 251 Trust fund reserves 40 U Unemployment projections 108 Unfunded obligation 4, 11, 16, 18, 52, 72, 73, 205, 244, 251, 252 Unnegotiated check 174 V Valuation period 16, 50, 52, 166, 180, 211, 235 Vocational rehabilitation 53, 157, 175, 213, 221, 233, 237 Y Year of depletion 12, 15, 52, 67