2016 OASDI Trustees Report

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INDEX
A
Actuarial balance 11, 17, 54, 168, 182
Actuarial deficit 5, 17, 24, 73, 212
Actuarial estimates, LR 54
Actuarial estimates, SR 42
Adjusted program amounts 118
Administrative expenses 7, 38, 55, 155, 159, 176, 213, 221
Advance tax transfers 42, 68, 161
Amendments 40
Annual balance 22, 54, 78
Asset reserves 2, 7, 10, 30, 176, 189, 207
Assumptions 10, 84, 102, 118, 168, 182, 208, 213, 218, 230
Automatic cost-of-living benefit increase 47, 103, 118
Auxiliary benefits 128
Average benefits 152
Average earnings assumptions 105
Average indexed monthly earnings (AIME) 122
Average wage index 118, 218
Award 130
B
Baby-boom generation 4, 24, 56, 64, 111, 137
Bend points 122
Beneficiaries, DI 136
Beneficiary 14, 47, 64, 84, 119, 171, 183, 213, 221, 230
Beneficiary, OASI 129
Benefit payments 7, 55, 152, 159, 176
Benefit termination 9
Best estimate 9, 42, 84
Board of Trustees 42, 102, 157
C
Constant dollars 223
Consumer Price Index 103, 187, 218, 235
Contribution and benefit base 46, 105, 119, 235
Contributions 7, 157, 176, 207, 213, 221, 234
Cost 3, 49
Cost rate 4, 55, 207
Cost-of-living adjustment 118
Covered earnings 7, 118, 217
Covered employment 9, 46, 105, 126, 157, 186
Covered worker 66, 126, 184
Creditable earnings 237
Current dollars 218
Current-payment status 49, 141, 142, 143, 235
D
Deemed wage credit 55
Delayed retirement credit 125
Demographic assumptions 9, 22, 42, 85, 111, 118, 168, 219, 234
Deterministic model 193, 202
DI beneficiaries 136
Disability 157, 185, 230
Disability conversion ratio 141
Disability incidence rate 84, 136, 139, 185, 190, 234
Disability Insurance Trust Fund 236
Disability prevalence rate 143, 145
Disability termination rate 190
Disabled-worker benefit 139, 238
Disbursements 26, 28, 29, 31, 33, 36, 42, 176, 177, 178, 231, 233
E
Earnings 2, 7, 46, 55, 105, 119, 157, 169, 207, 217, 218, 234
Earnings test 105, 119, 235
Economic assumptions 9, 22, 42, 52, 102, 111, 118, 168, 219, 234
Excess wages 55, 218
Expenditures 7, 9, 30, 39, 42, 159, 238
F
Federal Insurance Contributions Act 207, 244
Fertility assumptions 85
Financial interchange 7, 155, 159
Fiscal year 161, 175
Full advance funding 239
G
General Fund of the Treasury 45, 47, 49, 51, 161, 163, 165, 179, 180, 181, 234
General fund reimbursement 240
Gross domestic product 5, 11, 61, 84, 103, 113, 213
Gross domestic product projections 113
H
High-cost assumptions 9, 19, 42, 44, 56, 84, 102, 140, 182, 201, 208, 214, 218, 234
Hospital Insurance program 149, 207, 242
Hospital Insurance Trust Fund 213
I
Immigration 9, 84, 90, 185, 193, 234, 240
Immigration assumptions 90
Income rate 4, 12, 55, 207
Infinite horizon 11
Inflation 9, 84, 103, 218, 234
Inflation assumptions 103
Insured population 9, 127
Insured status 123
Interest 46, 114, 158, 168, 176, 209, 234
Interest rate 84, 168, 189, 234
Interest rate projections 114
Interest rates 9
Interfund borrowing 161, 241
Intermediate assumptions 9, 42, 48, 56, 84, 139, 182, 209, 214, 218, 222, 223, 224, 230, 234
L
Labor force projections 110
Legal immigration 91, 241
Life expectancy 4, 24, 84, 98, 110, 241
Life expectancy estimates 98
Long range 11, 54, 85, 130, 168, 207, 213
Low-cost assumptions 9, 19, 42, 56, 84, 102, 139, 182, 201, 208, 218, 234
Lump-sum death payment 153
M
Medicare 86, 242
Military service 45, 49, 51, 55, 156, 157, 161, 163, 165, 179, 180, 181
N
National average wage index 118, 218
Normal retirement age 119, 136, 153, 237
O
OASI beneficiaries 129
Old-Age and Survivors Insurance Trust Fund 157, 236
Old-law base 123
Other immigration 90, 185, 243
P
Par value 159
Partial advance funding 243
Pay-as-you-go financing 168
Payroll taxes 2, 118, 146, 171, 203, 207, 221
Population estimates 96
Population in the Social Security area 46, 67, 96, 126, 185
Present value 168
Primary insurance amount (PIA) 122
Productivity assumptions 103
Q
Quarters of coverage 127
R
Railroad Retirement 55, 72, 123, 155, 159, 176, 177, 178, 207, 213, 221, 236
Reallocation of tax rates 245
Real-wage differential 108, 186
Retired-worker benefit 130, 184, 230
Retirement age 119, 153, 237
Retirement earnings test 105, 119
Retirement eligibility age 184
S
Scenario-based model 245
Scheduled benefits 188, 213, 221, 232, 245
scheduled benefits 43
Self-employment 55, 104, 208, 244
Self-Employment Contributions Act 244, 246
Sensitivity analysis 182
Short range 10, 42, 130
Social Security Act 118, 158, 218, 230, 236
Social Security amendments 40
Solvency 246
Special public-debt obligation 117, 158, 189
Stochastic projections 193
Substantial gainful activity 136, 238
Summarized balance 214
Summarized income and cost rates 72, 168, 182, 211, 234
Supplemental Security Income 176
Supplementary Medical Insurance program 207, 242
Survivor benefit 2, 8, 133, 235
Sustainable solvency 68, 69
T
Taxable earnings 46, 67, 119, 169, 235
Taxable payroll 5, 24, 55, 104, 127, 168, 183, 207, 213, 218, 236
Taxable self-employment income 248
Taxable wages 151, 208, 248
Taxation of benefits 7, 151, 213, 221, 240
Taxes 7, 118, 208
Termination 84
Termination rate 9, 130, 190, 234
Test of short-range financial adequacy 43, 44, 246
Total fertility rate 85, 182
Trust fund financial operations 7, 26, 43, 157
Trust fund ratio 10, 42, 54, 68, 161, 179, 250
Trust fund reserves 42
U
Unemployment projections 110
Unfunded obligation 5, 11, 17, 19, 54, 75, 76, 204, 205, 206, 243, 250, 251
Unnegotiated check 176
V
Valuation period 17, 52, 54, 168, 182, 211, 234
Vocational rehabilitation 55, 159, 177, 213, 221, 232, 236
Y
Year of depletion 12, 16, 54, 70

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