INDEX A Actuarial balance 12, 17, 54, 71, 76, 171, 187 Actuarial deficit 5, 17, 27, 73, 218 Actuarial estimates, LR 54 Actuarial estimates, SR 42 Adjusted program amounts 120 Administrative expenses 7, 39, 55, 158, 161, 180, 219, 227 Advance tax transfers 42, 67, 164 Amendments 41 Annual balance 24, 54, 77 Asset reserves 2, 7, 11, 33, 180, 194, 213 Assumptions 83, 103, 120, 171, 187, 214, 219, 224, 236 Automatic cost-of-living benefit increase 47, 105, 120 Auxiliary benefits 130 Average benefits 153 Average earnings assumptions 107 Average indexed monthly earnings (AIME) 124 Average wage index 120, 224 Award 132 B Baby-boom generation 26, 55, 64, 113, 139 Bend points 124 Beneficiaries, DI 138 Beneficiary 14, 47, 64, 83, 121, 175, 188, 219, 227, 236 Beneficiary, OASI 132 Benefit payments 7, 55, 154, 161, 180 Benefit termination 9 Best estimate 9, 42, 83 Board of Trustees 42, 103, 159 C Constant dollars 229 Consumer Price Index 105, 193, 224, 241 Contribution and benefit base 46, 107, 121, 241 Contributions 7, 159, 180, 213, 219, 227, 240 Cost 3, 7, 33, 49 Cost rate 4, 55, 213 Cost-of-living adjustment 120 Covered earnings 7, 120, 223 Covered employment 10, 46, 107, 128, 159 Covered worker 66, 190 Creditable earnings 243 Current dollars 224 Current-payment status 49, 143, 144, 241 D Deemed wage credit 55 Delayed retirement credit 127 Demographic assumptions 9, 24, 42, 84, 113, 120, 171, 225, 240 DI beneficiaries 138 Disability 159, 190, 236 Disability incidence rate 83, 138, 141, 190, 196, 240 Disability Insurance Trust Fund 242 Disability prevalence rate 144, 146 Disability termination rate 197 Disabled-worker benefit 141, 244 E Earnings 2, 7, 55, 107, 121, 159, 172, 213, 223, 224, 240 Earnings test 121, 241 Economic assumptions 9, 24, 42, 52, 103, 113, 120, 171, 225, 240 Excess wages 55, 224 Expenditures 42, 245 exposed population 132, 140, 196, 245 F Federal Insurance Contributions Act 213, 250 Fertility assumptions 84 Financial interchange 7, 158, 161 Fiscal year 164, 179 Full advance funding 245 G General Fund of the Treasury 45, 47, 49, 51, 164, 166, 168, 184, 185, 186, 240 General fund reimbursement 246 Gross domestic product 4, 12, 61, 83, 104, 115, 219 Gross domestic product projections 115 H High-cost assumptions 10, 19, 42, 56, 83, 103, 142, 187, 207, 214, 224, 240 Hospital Insurance program 150, 213, 248 Hospital Insurance Trust Fund 219 I Immigration 9, 83, 91, 190, 240, 247 Immigration assumptions 91 Income rate 4, 13, 55, 213 Infinite horizon 12 Inflation 9, 83, 105, 224, 240 Inflation assumptions 105 Insured population 9, 129 Insured status 125 Interest 116, 160, 171, 180, 215, 240 Interest rate 83, 171, 194, 240 Interest rate projections 116 Interest rates 9 Interfund borrowing 164, 247 Intermediate assumptions 10, 42, 47, 56, 83, 142, 187, 215, 219, 224, 228, 229, 230, 236, 240 L Labor force projections 112 Lawful Permanent Resident (LPR) immigration 91 Legal immigration 247, 248 Life expectancy 83, 100, 112, 248 Life expectancy estimates 100 Long range 12, 54, 84, 132, 171, 213, 219 Low-cost assumptions 10, 19, 42, 56, 83, 103, 142, 187, 207, 214, 224, 240 Lump-sum death payment 154 M Medicare 86, 248 Military service 55, 159, 164, 166, 168 N National average wage index 224 Normal retirement age 121, 138, 154, 243 O OASI beneficiaries 132 Old-Age and Survivors Insurance Trust Fund 159, 242 Old-law base 125 Other immigration 249 Other-than-LPR immigration 91 P Par value 161 Partial advance funding 250 Pay-as-you-go financing 171 Payroll taxes 2, 120, 147, 175, 209, 213, 227 Population estimates 97 Present value 171 Primary insurance amount (PIA) 124 Productivity assumptions 104 Q Quarters of coverage 129 R Railroad Retirement 55, 71, 125, 158, 161, 180, 181, 182, 213, 219, 227, 242 Reallocation of tax rates 251 Retired-worker benefit 132, 190, 236 Retirement age 121, 154, 243 Retirement earnings test 121 Retirement eligibility age 190 S Scenario-based model 251 Scheduled benefits 193, 219, 227, 238, 251 Self-employment 55, 105, 214, 250 Self-Employment Contributions Act 250, 251 Sensitivity analysis 187 Short range 11, 42, 132 Social Security Act 120, 160, 224, 236, 242 Social Security amendments 41 Solvency 252 Special public-debt obligation 119, 160, 194 Stochastic projections 199 Substantial gainful activity 138, 244 Summarized balance 220 Summarized income and cost rates 71, 171, 187, 217, 240 Supplemental Security Income 180 Supplementary Medical Insurance program 213, 248 Survivor benefit 2, 8, 135, 241 Sustainable solvency 67, 68 T Taxable earnings 46, 66, 121, 172, 241 Taxable payroll 5, 27, 55, 105, 129, 171, 188, 213, 219, 224, 242 Taxable ratio 195 Taxable self-employment income 253 Taxable wages 152, 214, 254 Taxation of benefits 7, 152, 219, 227, 247 Taxes 7, 120, 214 Termination 83 Termination rate 9, 132, 197, 240 Test of long-range close actuarial balance 54, 67, 69 Test of short-range financial adequacy 11, 12, 43, 44, 69, 70, 254 Total fertility rate 84, 187 Trust fund financial operations 7, 29, 43, 159 Trust fund ratio 11, 42, 54, 67, 164, 184, 256 Trust fund reserves 42 U Unemployment projections 112 Unfunded obligation 5, 12, 17, 19, 54, 74, 75, 210, 211, 249, 256, 257 Unnegotiated check 180 V Valuation period 17, 52, 54, 171, 187, 217, 240 Vocational rehabilitation 55, 161, 181, 219, 227, 238, 242 Y Year of depletion 13, 17, 54, 69
