INDEX A Actuarial balance 12, 17, 53, 169, 183 Actuarial deficit 4, 17, 26, 72, 215 Actuarial estimates, LR 53 Actuarial estimates, SR 41 Adjusted program amounts 118 Administrative expenses 7, 38, 54, 156, 159, 177, 216, 224 Advance tax transfers 41, 66, 162 Amendments 40 Annual balance 23, 53, 76 Asset reserves 2, 7, 11, 32, 177, 191, 210 Assumptions 82, 102, 118, 169, 183, 211, 216, 221, 234 Automatic cost-of-living benefit increase 46, 103, 118 Auxiliary benefits 128 Average benefits 152 Average earnings assumptions 105 Average indexed monthly earnings (AIME) 122 Average wage index 118, 221 Award 130 B Baby-boom generation 25, 54, 63, 111, 137 Bend points 122 Beneficiaries, DI 136 Beneficiary 14, 46, 63, 82, 119, 172, 184, 216, 224, 234 Beneficiary, OASI 130 Benefit payments 7, 54, 153, 159, 177 Benefit termination 9 Best estimate 9, 41, 82 Board of Trustees 41, 102, 157 C Constant dollars 226 Consumer Price Index 103, 189, 221, 239 Contribution and benefit base 45, 105, 119, 239 Contributions 7, 157, 177, 210, 216, 224, 238 Cost 3, 7, 32, 49 Cost rate 4, 54, 210 Cost-of-living adjustment 118 Covered earnings 7, 118, 220 Covered employment 10, 45, 105, 126, 157, 188 Covered worker 65, 186 Creditable earnings 241 Current dollars 221 Current-payment status 48, 141, 142, 143, 239 D Deemed wage credit 54 Delayed retirement credit 125 Demographic assumptions 9, 23, 41, 83, 111, 118, 169, 222, 238 Deterministic model 196 DI beneficiaries 136 Disability 157, 186, 234 Disability conversion ratio 141 Disability incidence rate 82, 136, 139, 186, 193, 238 Disability Insurance Trust Fund 240 Disability prevalence rate 143, 145 Disability termination rate 194 Disabled-worker benefit 139, 242 Disbursements 41 E Earnings 2, 7, 54, 105, 119, 157, 170, 210, 220, 221, 238 Earnings test 105, 119, 239 Economic assumptions 9, 23, 41, 51, 102, 111, 118, 169, 222, 238 Excess wages 54, 221 Expenditures 41, 243 Exposed population 4, 130, 138, 193, 243 F Federal Insurance Contributions Act 210, 248 Fertility assumptions 83 Financial interchange 7, 156, 159 Fiscal year 162, 176 Full advance funding 243 G General Fund of the Treasury 44, 46, 48, 50, 162, 164, 166, 180, 181, 182, 238 General fund reimbursement 244 Gross domestic product 4, 12, 60, 82, 103, 113, 216 Gross domestic product projections 113 H High-cost assumptions 10, 19, 41, 55, 82, 102, 140, 183, 204, 211, 221, 238 Hospital Insurance program 149, 210, 246 Hospital Insurance Trust Fund 216 I Immigration 9, 82, 89, 186, 238, 245 Immigration assumptions 89 Income rate 4, 13, 54, 210 Infinite horizon 12 Inflation 9, 82, 103, 221, 238 Inflation assumptions 103 Insured population 9, 127 Insured status 123 Interest 114, 158, 169, 177, 212, 238 Interest rate 82, 169, 190, 238 Interest rate projections 114 Interest rates 9 Interfund borrowing 162, 245 Intermediate assumptions 10, 41, 46, 55, 82, 140, 183, 212, 217, 221, 226, 228, 234, 238 L Labor force projections 110 Lawful Permanent Resident (LPR) immigration 90 Legal immigration 245, 246 Life expectancy 82, 99, 111, 246 Life expectancy estimates 98 Long range 12, 53, 83, 130, 169, 210, 216 Low-cost assumptions 10, 19, 41, 55, 82, 102, 140, 183, 204, 211, 221, 238 Lump-sum death payment 153 M Medicare 85, 246 Military service 54, 157, 162, 164, 166 N National average wage index 221 Normal retirement age 119, 136, 153, 241 O OASI beneficiaries 130 Old-Age and Survivors Insurance Trust Fund 157, 240 Old-law base 123 Other immigration 247 Other-than-LPR immigration 90 P Par value 158 Partial advance funding 248 Pay-as-you-go financing 169 Payroll taxes 2, 118, 147, 172, 206, 210, 224 Population estimates 96 Population in the Social Security area 45, 65, 96, 126, 187 Present value 169 Primary insurance amount (PIA) 122 Productivity assumptions 103 Q Quarters of coverage 127 R Railroad Retirement 54, 71, 123, 156, 159, 177, 178, 179, 210, 216, 224, 240 Reallocation of tax rates 249 Real-wage differential 108, 187 Retired-worker benefit 130, 186, 234 Retirement age 119, 153, 241 Retirement earnings test 105, 119 Retirement eligibility age 186 S Scenario-based model 249 Scheduled benefits 190, 216, 224, 236, 249 Self-employment 54, 104, 211, 248 Self-Employment Contributions Act 248, 249 Sensitivity analysis 183 Short range 11, 41, 130 Social Security Act 118, 158, 221, 234, 240 Social Security amendments 40 Solvency 250 Special public-debt obligation 117, 158, 190 Stochastic projections 196 Substantial gainful activity 136, 242 Summarized balance 217 Summarized income and cost rates 71, 169, 183, 214, 238 Supplemental Security Income 177 Supplementary Medical Insurance program 210, 246 Survivor benefit 2, 8, 133, 239 Sustainable solvency 66, 67 T Taxable earnings 45, 65, 119, 170, 239 Taxable payroll 4, 26, 54, 104, 127, 169, 184, 210, 216, 221, 240 Taxable ratio 191 Taxable self-employment income 251 Taxable wages 151, 211, 252 Taxation of benefits 7, 151, 216, 224, 245 Taxes 7, 118, 211 Termination 82 Termination rate 9, 130, 194, 238 Test of long-range close actuarial balance 53, 66, 69 Test of short-range financial adequacy 11, 12, 42, 43, 69, 252 Total fertility rate 84, 183 Trust fund financial operations 7, 28, 42, 157 Trust fund ratio 11, 41, 53, 66, 162, 180, 254 Trust fund reserves 41 U Unemployment projections 110 Unfunded obligation 5, 12, 17, 19, 53, 74, 75, 208, 247, 254, 255 Unnegotiated check 177 V Valuation period 17, 51, 53, 169, 183, 214, 238 Vocational rehabilitation 54, 159, 178, 216, 224, 236, 240 Y Year of depletion 13, 16, 53, 68
