2023 OASDI Trustees Report

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INDEX
A
Actuarial balance 12, 17, 53, 70, 75, 171, 186
Actuarial deficit 4, 17, 26, 72, 217
Actuarial estimates, LR 53
Actuarial estimates, SR 41
Adjusted program amounts 119
Administrative expenses 7, 38, 54, 157, 161, 179, 218, 226
Advance tax transfers 41, 66, 164
Amendments 40
Annual balance 23, 53, 76
Asset reserves 2, 7, 11, 32, 179, 193, 212
Assumptions 82, 102, 119, 171, 186, 213, 218, 223, 235
Automatic cost-of-living benefit increase 46, 104, 119
Auxiliary benefits 129
Average benefits 153
Average earnings assumptions 105
Average indexed monthly earnings (AIME) 123
Average wage index 119, 223
Award 131
B
Baby-boom generation 25, 54, 63, 112, 138
Bend points 123
Beneficiaries, DI 137
Beneficiary 14, 46, 63, 82, 120, 174, 187, 218, 226, 235
Beneficiary, OASI 131
Benefit payments 7, 54, 154, 161, 179
Benefit termination 9
Best estimate 9, 41, 82
Board of Trustees 41, 102, 159
C
Constant dollars 228
Consumer Price Index 104, 192, 223, 240
Contribution and benefit base 45, 106, 120, 240
Contributions 7, 159, 179, 212, 218, 226, 239
Cost 3, 7, 32, 48
Cost rate 4, 54, 212
Cost-of-living adjustment 119
Covered earnings 7, 119, 222
Covered employment 10, 45, 106, 127, 159
Covered worker 65, 189
Creditable earnings 242
Current dollars 223
Current-payment status 48, 142, 143, 144, 240
D
Deemed wage credit 54
Delayed retirement credit 126
Demographic assumptions 9, 23, 41, 83, 112, 119, 171, 224, 239
Deterministic model 198
DI beneficiaries 137
Disability 159, 189, 235
Disability conversion ratio 142
Disability incidence rate 82, 137, 140, 189, 195, 239
Disability Insurance Trust Fund 241
Disability prevalence rate 144, 146
Disability termination rate 196
Disabled-worker benefit 140, 243
Disbursements 41
E
Earnings 2, 7, 54, 105, 120, 159, 172, 212, 222, 223, 239
Earnings test 120, 240
Economic assumptions 9, 23, 41, 51, 102, 112, 119, 171, 224, 239
Excess wages 54, 223
Expenditures 41, 244
exposed population 131, 139, 195, 244
F
Federal Insurance Contributions Act 212, 249
Fertility assumptions 83
Financial interchange 7, 158, 161
Fiscal year 164, 178
Full advance funding 244
G
General Fund of the Treasury 44, 46, 48, 50, 164, 166, 168, 183, 184, 185, 239
General fund reimbursement 245
Gross domestic product 4, 12, 60, 82, 103, 114, 218
Gross domestic product projections 114
H
High-cost assumptions 10, 19, 41, 55, 82, 102, 141, 186, 206, 213, 223, 239
Hospital Insurance program 150, 212, 247
Hospital Insurance Trust Fund 218
I
Immigration 9, 82, 89, 189, 239, 246
Immigration assumptions 89
Income rate 4, 13, 54, 212
Infinite horizon 12
Inflation 9, 82, 104, 223, 239
Inflation assumptions 104
Insured population 9, 128
Insured status 124
Interest 115, 160, 171, 179, 214, 239
Interest rate 82, 171, 193, 239
Interest rate projections 115
Interest rates 9
Interfund borrowing 164, 246
Intermediate assumptions 10, 41, 46, 55, 82, 141, 186, 214, 218, 223, 227, 228, 229, 235, 239
L
Labor force projections 111
Lawful Permanent Resident (LPR) immigration 90
Legal immigration 246, 247
Life expectancy 82, 99, 111, 247
Life expectancy estimates 98
Long range 12, 53, 83, 131, 171, 212, 218
Low-cost assumptions 10, 19, 41, 55, 82, 102, 141, 186, 206, 213, 223, 239
Lump-sum death payment 154
M
Medicare 85, 247
Military service 54, 159, 164, 166, 168
N
National average wage index 223
Normal retirement age 120, 137, 154, 242
O
OASI beneficiaries 131
Old-Age and Survivors Insurance Trust Fund 159, 241
Old-law base 124
Other immigration 248
Other-than-LPR immigration 90
P
Par value 161
Partial advance funding 249
Pay-as-you-go financing 171
Payroll taxes 2, 119, 147, 174, 208, 212, 226
Population estimates 96
Population in the Social Security area 45, 65, 96, 127, 190
posed 4
Present value 171
Primary insurance amount (PIA) 123
Productivity assumptions 103
Q
Quarters of coverage 128
R
Railroad Retirement 54, 70, 124, 158, 161, 179, 180, 181, 212, 218, 226, 241
Reallocation of tax rates 250
Real-wage differential 108, 190
Retired-worker benefit 131, 189, 235
Retirement age 120, 154, 242
Retirement earnings test 120
Retirement eligibility age 189
S
Scenario-based model 251
Scheduled benefits 192, 218, 226, 237, 250
Self-employment 54, 104, 213, 249
Self-Employment Contributions Act 249, 251
Sensitivity analysis 186
Short range 11, 41, 131
Social Security Act 119, 160, 223, 235, 241
Social Security amendments 40
Solvency 251
Special public-debt obligation 118, 160, 193
Stochastic projections 198
Substantial gainful activity 137, 243
Summarized balance 219
Summarized income and cost rates 70, 171, 186, 216, 239
Supplemental Security Income 179
Supplementary Medical Insurance program 212, 247
Survivor benefit 2, 8, 134, 240
Sustainable solvency 66, 67
T
Taxable earnings 45, 65, 120, 172, 240
Taxable payroll 4, 26, 54, 104, 128, 171, 187, 212, 218, 223, 241
Taxable ratio 194
Taxable self-employment income 253
Taxable wages 152, 213, 253
Taxation of benefits 7, 152, 218, 226, 246
Taxes 7, 119, 213
Termination 82
Termination rate 9, 131, 196, 239
Test of long-range close actuarial balance 53, 66, 68
Test of short-range financial adequacy 11, 12, 42, 43, 68, 69, 253, 254
Total fertility rate 84, 186
Trust fund financial operations 7, 28, 42, 159
Trust fund ratio 11, 41, 53, 66, 164, 183, 255
Trust fund reserves 41
U
Unemployment projections 111
Unfunded obligation 4, 12, 17, 19, 53, 73, 74, 209, 210, 248, 255, 256
Unnegotiated check 179
V
Valuation period 17, 51, 53, 171, 186, 216, 239
Vocational rehabilitation 54, 161, 180, 218, 226, 237, 241
Y
Year of depletion 13, 16, 53, 68

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