A Actuarial balance 9, 11, 46, 114, 150, 162 Actuarial balance, long-range test 71 Actuarial deficit 3, 11, 20, 61, 184 Actuarial estimates, LR 46 Actuarial estimates, SR 34 Adjusted program amounts 106 Administrative expenses 5, 31, 47, 134, 141, 156, 185, 193 Advance tax transfers 56, 143 Amendments 33 Annual balance 18, 46, 72 Assets 2, 5, 8, 25, 34, 141, 156, 169, 179, 191 Assumptions 2, 8, 47, 77, 92, 106, 150, 162, 180, 185, 190, 203 Automatic cost-of-living benefit increase 38, 94, 106 Auxiliary benefits 116 Average benefits 133 Average earnings assumptions 95 Average indexed monthly earnings (AIME) 109 Average wage index 106, 190 Award 118 B Baby-boom generation 2, 20, 40, 48, 52, 100, 124 Bend points 109 Beneficiaries, DI 123 Beneficiary 10, 38, 52, 77, 107, 153, 163, 185, 193, 203 Beneficiary, OASI 118 Benefit payments 5, 35, 47, 134, 141, 156, 168, 185, 193, 205 Benefit termination 7, 40 Best estimate 7, 20, 34, 77 Board of Trustees 34, 92, 137 C Close actuarial balance 46, 67 Closed group unfunded obligation 67, 209 Constant dollars 195 Consumer Price Index 94, 168, 190, 208 Contribution and benefit base 37, 95, 107, 138, 190, 208 Contributions 5, 137, 156, 179, 185, 193, 207 Cost 2 Cost rate 3, 9, 47, 114, 179 Cost-of-living adjustment 106 Covered earnings 5, 106, 189 Covered employment 7, 37, 95, 113, 137, 167 Covered worker 54, 113, 165 Creditable earnings 210 Current dollars 190 Current-payment status 40, 128, 129, 130, 208 D Deemed wage credit 47, 114 Delayed retirement credit 112 Demographic assumptions 7, 18, 34, 47, 78, 100, 106, 150, 191, 207 Deterministic model 173, 178, 210 DI beneficiaries 123 Disability 137, 165, 203 Disability conversion ratio 128 Disability incidence rate 77, 124, 126, 165, 170, 207 Disability Insurance Trust Fund 209 Disability prevalence rate 130, 132 Disability termination rate 171 Disabled-worker benefit 126, 211 Disbursements 22, 23, 24, 27, 28, 29, 34, 156, 157, 158, 204, 205 E Earnings 2, 5, 37, 47, 95, 107, 137, 151, 179, 189, 190, 207 Earnings test 95, 107, 208 Economic assumptions 7, 18, 34, 44, 47, 92, 100, 106, 150, 191, 207 Excess wages 47, 114, 190 Expenditures 5, 7, 26, 32, 34, 38, 41, 141, 211 F Federal Insurance Contributions Act 179, 216 Fertility assumptions 78 Financial interchange 5, 134, 141 Fiscal year 82, 143, 155 Full advance funding 212 G General Fund of the Treasury 36, 38, 39, 42, 139, 143, 145, 147, 159, 160, 161, 207 General fund reimbursement 212 Gross domestic product 3, 52, 77, 93, 102, 185 Gross domestic product projections 102 H High-cost assumptions 7, 15, 34, 35, 48, 77, 92, 127, 162, 177, 180, 185, 190, 207 Hospital Insurance program 138, 179, 214 Hospital Insurance Trust Fund 185 I Immigration 7, 77, 78, 81, 85, 165, 173, 207, 213 Immigration assumptions 81 Income rate 3, 9, 47, 179 Inflation 7, 77, 94, 190, 207 Inflation assumptions 94 Insured population 7, 115 Insured status 111 Interest 37, 102, 140, 150, 156, 181, 185, 191, 207 Interest rate 38, 77, 150, 169, 191, 207 Interest rate projections 102 Interest rates 7 Interfund borrowing 143, 213 Intermediate assumptions 7, 34, 38, 40, 48, 77, 127, 162, 181, 185, 190, 194, 195, 196, 203, 207 L Labor force projections 99 Legal immigration 82, 86, 214 Life expectancy 3, 20, 77, 89, 99, 214 Life expectancy estimates 89 Long range 9, 46, 78, 118, 150, 179, 185, 190 Low-cost assumptions 7, 15, 34, 48, 77, 92, 127, 162, 177, 180, 190, 207 Lump-sum death payment 134 M Medicare 80, 214 Military service 36, 39, 42, 47, 95, 114, 135, 137, 143, 145, 147, 159, 160, 161 N National average wage index 106, 190 Normal retirement age 107, 123, 199, 210 O OASI beneficiaries 118 Old-Age and Survivors Insurance Trust Fund 137, 209 Old-law base 111 Open group unfunded obligation 3, 9, 18, 46, 63, 64, 177, 209, 215 Other immigration 82, 166, 215 P Par value 141 Partial advance funding 216 Pay-as-you-go financing 150 Payroll taxes 2, 21, 62, 106, 114, 153, 162, 179, 193 Population estimates 86 Population in the Social Security area 37, 55, 86, 113, 166 Present value 150 Primary insurance amount (PIA) 109 Productivity assumptions 93 Q Quarters of coverage 115 R Railroad Retirement 47, 111, 134, 141, 156, 157, 158, 179, 185, 193, 209 Reallocation of tax rates 217 Real-wage differential 97, 166 Recession 9, 30, 38 Retired-worker benefit 118, 165, 203 Retirement age 40, 107, 199, 210 Retirement earnings test 95, 107 Retirement eligibility age 1, 165 S Self-employment 47, 94, 114, 137, 180, 216 Self-Employment Contributions Act 216, 218 Sensitivity analysis 162 Short range 8, 34, 118 Social Security Act 106, 141, 190, 203, 209 Social Security amendments 33 Solvency 46, 218 Special public-debt obligation 38, 105, 140, 169, 191 Stochastic projections 173 Substantial gainful activity 123, 210 Summarized balance 186 Summarized income and cost rates 60, 150, 162, 183, 207 Supplemental Security Income 156 Supplementary Medical Insurance program 179, 214 Survivor benefit 2, 6, 121, 208 T Taxable earnings 37, 55, 107, 137, 151, 189, 208 Taxable payroll 3, 9, 20, 47, 94, 114, 150, 163, 179, 185, 190, 209 Taxable self-employment income 137, 220 Taxable wages 115, 139, 180, 220 Taxation of benefits 5, 47, 135, 185, 193, 213 Taxes 5, 106, 137, 180 Termination 40, 77 Termination rate 7, 40, 118, 171, 207 Test of short-range financial adequacy 35, 68, 218 Total fertility rate 79, 162 Trust fund financial operations 5, 22, 35, 137 Trust fund ratio 8, 34, 46, 56, 143, 159, 222 U Unemployment projections 99 Unfunded obligation 3, 9, 12, 14, 18, 46, 63, 64, 67, 177, 209, 215, 222 Unnegotiated check 156 V Valuation period 11, 46, 150, 162, 183, 207 Vocational rehabilitation 47, 141, 157, 185, 193, 205, 209 Y Year of exhaustion 9, 11, 21, 46, 58
