2014 OASDI Trustees Report

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INDEX
A
Actuarial balance 10, 16, 49, 157, 170
Actuarial deficit 4, 16, 23, 65, 200
Actuarial estimates, LR 49
Actuarial estimates, SR 39
Adjusted program amounts 108
Administrative expenses 6, 36, 50, 144, 148, 164, 201, 209
Advance tax transfers 60, 150
Amendments 38
Annual balance 21, 49, 70
Asset reserves 2, 6, 9, 30, 164, 177, 195, 207
Assumptions 9, 75, 92, 108, 157, 170, 196, 201, 206, 216
Automatic cost-of-living benefit increase 43, 93, 108
Auxiliary benefits 118
Average benefits 142
Average earnings assumptions 95
Average indexed monthly earnings (AIME) 111
Average wage index 108, 206
Award 119
B
Baby-boom generation 3, 23, 50, 56, 101, 126
Bend points 111
Beneficiaries, DI 125
Beneficiary 13, 43, 56, 75, 109, 160, 171, 201, 209, 216
Beneficiary, OASI 119
Benefit payments 6, 50, 142, 148, 164
Benefit termination 8
Best estimate 8, 23, 39, 75
Board of Trustees 39, 92, 146
C
Constant dollars 211
Consumer Price Index 93, 175, 206, 221
Contribution and benefit base 42, 96, 109, 221
Contributions 6, 146, 164, 195, 201, 209, 220
Cost 3, 45
Cost rate 4, 11, 50, 195
Cost-of-living adjustment 108
Covered earnings 6, 108, 205
Covered employment 8, 42, 95, 116, 146, 174
Covered worker 58, 116, 173
Creditable earnings 223
Current dollars 206
Current-payment status 45, 130, 132, 133, 221
D
Deemed wage credit 50
Delayed retirement credit 115
Demographic assumptions 8, 21, 39, 76, 101, 108, 157, 207, 220
Deterministic model 181, 190
DI beneficiaries 125
Disability 146, 173, 216
Disability conversion ratio 131
Disability incidence rate 75, 126, 128, 173, 178, 220
Disability Insurance Trust Fund 222
Disability prevalence rate 133, 135
Disability termination rate 178
Disabled-worker benefit 129, 223
Disbursements 26, 28, 31, 32, 34, 39, 164, 165, 166, 217, 219
E
Earnings 2, 6, 42, 50, 95, 109, 146, 158, 195, 205, 206, 220
Earnings test 96, 109, 221
Economic assumptions 8, 21, 39, 47, 92, 101, 108, 157, 207, 220
Excess wages 50, 206
Expenditures 6, 8, 30, 37, 39, 148, 224
F
Federal Insurance Contributions Act 195, 230
Fertility assumptions 76
Financial interchange 6, 145, 148
Fiscal year 80, 150, 163
Full advance funding 225
G
General Fund of the Treasury 41, 43, 44, 46, 150, 152, 154, 167, 168, 169, 220
General fund reimbursement 225
Gross domestic product 4, 10, 55, 75, 93, 103, 201
Gross domestic product projections 103
H
High-cost assumptions 8, 18, 39, 40, 51, 75, 92, 129, 170, 188, 196, 201, 206, 220
Hospital Insurance program 139, 195, 228
Hospital Insurance Trust Fund 201
I
Immigration 8, 75, 76, 79, 84, 173, 181, 220, 226
Immigration assumptions 79
Income rate 4, 11, 50, 195
Infinite horizon 10
Inflation 8, 75, 93, 206, 220
Inflation assumptions 93
Insured population 8, 117
Insured status 113
Interest 42, 104, 147, 157, 164, 197, 220
Interest rate 75, 157, 177, 220
Interest rate projections 104
Interest rates 8
Interfund borrowing 150, 227
Intermediate assumptions 8, 39, 43, 51, 75, 129, 170, 197, 201, 206, 210, 211, 212, 216, 220
L
Labor force projections 100
Legal immigration 80, 85, 227
Life expectancy 3, 23, 75, 88, 100, 227
Life expectancy estimates 88
Long range 10, 49, 76, 120, 157, 195, 201
Low-cost assumptions 8, 18, 39, 51, 75, 92, 129, 170, 188, 196, 206, 220
Lump-sum death payment 142
M
Medicare 77, 228
Military service 41, 44, 46, 50, 145, 146, 150, 152, 154, 167, 168, 169
N
National average wage index 108, 206
Normal retirement age 109, 125, 143, 223
O
OASI beneficiaries 119
Old-Age and Survivors Insurance Trust Fund 146, 222
Old-law base 113
Other immigration 80, 173, 229
P
Par value 147
Partial advance funding 229
Pay-as-you-go financing 157
Payroll taxes 2, 108, 136, 160, 170, 191, 195, 209
Population estimates 86
Population in the Social Security area 42, 59, 86, 116, 173
Present value 157
Primary insurance amount (PIA) 111
Productivity assumptions 93
Q
Quarters of coverage 117
R
Railroad Retirement 50, 64, 113, 145, 148, 164, 165, 166, 195, 201, 209, 222
Reallocation of tax rates 231
Real-wage differential 98, 174
Recession 11, 42
Retired-worker benefit 120, 173, 216
Retirement age 109, 143, 223
Retirement earnings test 96, 109
Retirement eligibility age 173
S
Scenario-based model 231
Scheduled benefits 176, 201, 209, 218, 231
scheduled benefits 40
Self-employment 50, 94, 196, 230
Self-Employment Contributions Act 230, 231
Sensitivity analysis 170
Short range 9, 39, 119
Social Security Act 108, 147, 206, 216, 222
Social Security amendments 38
Solvency 232
Special public-debt obligation 107, 147, 177
Stochastic projections 181
Substantial gainful activity 125, 223
Summarized balance 202
Summarized income and cost rates 64, 157, 170, 199, 220
Supplemental Security Income 164
Supplementary Medical Insurance program 195, 228
Survivor benefit 2, 7, 123, 221
Sustainable solvency 60, 61
T
Taxable earnings 42, 59, 109, 158, 221
Taxable payroll 4, 23, 50, 94, 117, 157, 171, 195, 201, 206, 222
Taxable self-employment income 233
Taxable wages 141, 196, 233
Taxation of benefits 6, 141, 201, 209, 226
Taxes 6, 108, 196
Termination 75
Termination rate 8, 120, 178, 220
Test of short-range financial adequacy 40, 231
Total fertility rate 76, 170
Trust fund financial operations 6, 26, 40, 146
Trust fund ratio 9, 39, 49, 60, 150, 167, 235
Trust fund reserves 39
U
Unemployment projections 100
Unfunded obligation 4, 10, 16, 18, 49, 67, 68, 192, 193, 194, 229, 235, 236
Unnegotiated check 164
V
Valuation period 16, 47, 49, 157, 170, 199, 220
Vocational rehabilitation 50, 148, 165, 201, 209, 218, 222
Y
Year of depletion 11, 15, 49, 62

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