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
