A Actuarial balance 10, 14, 46, 156, 169 Actuarial balance ratio 67, 68, 69, 70 Actuarial balance, long-range test 70 Actuarial deficit 4, 14, 21, 61, 194 Actuarial estimates, LR 46 Actuarial estimates, SR 35 Adjusted program amounts 107 Administrative expenses 6, 32, 47, 143, 147, 163, 195, 203 Advance tax transfers 56, 149 Amendments 34 Annual balance 19, 46, 71 Assets 2, 6, 9, 26, 35, 147, 163, 176, 189, 201 Assumptions 9, 76, 92, 107, 156, 169, 190, 195, 200, 210 Automatic cost-of-living benefit increase 39, 93, 107 Auxiliary benefits 117 Average benefits 140 Average earnings assumptions 95 Average indexed monthly earnings (AIME) 110 Average wage index 107, 200 Award 118 B Baby-boom generation 3, 21, 41, 47, 52, 100, 125 Bend points 110 Beneficiaries, DI 124 Beneficiary 11, 39, 52, 76, 108, 159, 170, 195, 203, 210 Beneficiary, OASI 118 Benefit payments 6, 36, 47, 140, 147, 163, 175, 195, 203, 212 Benefit termination 8, 41 Best estimate 8, 21, 35, 76 Board of Trustees 35, 92, 145 C Close actuarial balance 46, 67 Constant dollars 205 Consumer Price Index 93, 174, 200, 215 Contribution and benefit base 38, 95, 108, 215 Contributions 6, 145, 163, 189, 195, 203, 214 Cost 3 Cost rate 3, 10, 46, 189 Cost-of-living adjustment 107 Covered earnings 6, 107, 199 Covered employment 8, 38, 95, 115, 145, 173 Covered worker 54, 115, 171 Creditable earnings 217 Current dollars 200 Current-payment status 41, 129, 130, 131, 216 D Deemed wage credit 47 Delayed retirement credit 114 Demographic assumptions 8, 19, 35, 77, 100, 107, 156, 201, 214 Deterministic model 179, 188 DI beneficiaries 124 Disability 145, 172, 210 Disability conversion ratio 129 Disability incidence rate 76, 125, 127, 172, 177, 214 Disability Insurance Trust Fund 216 Disability prevalence rate 131, 133 Disability termination rate 177 Disabled-worker benefit 127, 218 Disbursements 23, 24, 25, 28, 30, 35, 163, 164, 165, 211, 213 E Earnings 2, 6, 38, 47, 95, 108, 145, 157, 189, 199, 200, 214 Earnings test 95, 108, 215 Economic assumptions 8, 19, 35, 44, 92, 100, 107, 156, 201, 214 Excess wages 47, 200 Expenditures 6, 8, 27, 33, 35, 39, 42, 147, 218 F Federal Insurance Contributions Act 189, 224 Fertility assumptions 77 Financial interchange 6, 143, 147 Fiscal year 81, 149, 162 Full advance funding 219 G General Fund of the Treasury 37, 39, 40, 43, 149, 151, 153, 166, 167, 168, 214 General fund reimbursement 219 Gross domestic product 3, 10, 52, 76, 93, 102, 195 Gross domestic product projections 102 H High-cost assumptions 8, 16, 35, 36, 47, 76, 92, 128, 169, 187, 190, 195, 200, 215 Hospital Insurance program 137, 189, 222 Hospital Insurance Trust Fund 195 I Immigration 8, 76, 77, 80, 84, 172, 179, 214, 220 Immigration assumptions 80 Income rate 3, 10, 46, 189 Infinite horizon 10 Inflation 8, 76, 93, 200, 214 Inflation assumptions 93 Insured population 8, 116 Insured status 112 Interest 38, 103, 146, 156, 163, 191, 214 Interest rate 76, 156, 176, 214 Interest rate projections 103 Interest rates 8 Interfund borrowing 149, 221 Intermediate assumptions 8, 35, 39, 47, 76, 128, 169, 191, 195, 200, 204, 205, 206, 210, 214 L Labor force projections 100 Legal immigration 81, 85, 221 Life expectancy 3, 21, 76, 89, 100, 221 Life expectancy estimates 88 Long range 10, 46, 77, 118, 156, 189, 195 Low-cost assumptions 8, 16, 35, 47, 76, 92, 128, 169, 187, 190, 200, 214 Lump-sum death payment 140 M Medicare 79, 222 Military service 37, 40, 43, 47, 95, 144, 145, 149, 151, 153, 166, 167, 168 N National average wage index 107, 200 Normal retirement age 108, 124, 140, 217 O OASI beneficiaries 118 Old-Age and Survivors Insurance Trust Fund 145, 216 Old-law base 112 Other immigration 80, 172, 223 P Par value 146 Partial advance funding 223 Pay-as-you-go financing 156 Payroll taxes 2, 22, 61, 107, 134, 159, 169, 189, 203 Population estimates 86 Population in the Social Security area 38, 55, 86, 115, 172 Present value 156 Primary insurance amount (PIA) 110 Productivity assumptions 93 Q Quarters of coverage 116 R Railroad Retirement 47, 60, 112, 143, 147, 163, 164, 165, 189, 195, 203, 216 Reallocation of tax rates 225 Real-wage differential 97, 173 Recession 10, 31, 38 Retired-worker benefit 118, 171, 210 Retirement age 41, 108, 140, 217 Retirement earnings test 95, 108 Retirement eligibility age 171 S Scenario-based model 225 Self-employment 47, 94, 190, 224 Self-Employment Contributions Act 224, 225 Sensitivity analysis 169 Short range 9, 35, 118 Social Security Act 107, 146, 200, 210, 216 Social Security amendments 34 Solvency 226 Special public-debt obligation 106, 146, 176 Stochastic projections 179 Substantial gainful activity 124, 217 Summarized balance 196 Summarized income and cost rates 60, 156, 169, 193, 214 Supplemental Security Income 163 Supplementary Medical Insurance program 189, 222 Survivor benefit 2, 7, 121, 215 Sustainable solvency 56, 57 T Taxable earnings 38, 55, 108, 157, 215 Taxable payroll 4, 21, 47, 94, 116, 156, 170, 189, 195, 200, 216 Taxable self-employment income 227 Taxable wages 139, 190, 227 Taxation of benefits 6, 139, 195, 203, 220 Taxes 6, 107, 190 Termination 41, 76 Termination rate 8, 41, 118, 177, 214 Test of short-range financial adequacy 36, 68, 225 Total fertility rate 77, 169 Trust fund financial operations 6, 23, 36, 145 Trust fund ratio 9, 35, 46, 56, 149, 166, 229 U Unemployment projections 100 Unfunded obligation 4, 10, 14, 15, 19, 46, 63, 64, 66, 67, 187, 223, 229, 230 Unnegotiated check 163 V Valuation period 14, 46, 156, 169, 193, 214 Vocational rehabilitation 47, 147, 164, 195, 203, 212, 216 Y Year of exhaustion 10, 13, 22, 46, 58
