INDEX A Actuarial balance 13, 18, 55, 73, 78, 175, 191 Actuarial deficit 5, 18, 27, 75, 222 Actuarial estimates, LR 55 Actuarial estimates, SR 43 Adjusted program amounts 122 Administrative expenses 8, 40, 56, 161, 164, 184, 223, 231 Advance tax transfers 43, 69, 168 Amendments 42 Annual balance 25, 55, 79 Assumptions 85, 105, 122, 175, 191, 218, 223, 228, 240 Automatic cost-of-living benefit increase 48, 107, 122 Auxiliary benefits 132 Average benefits 156 Average earnings assumptions 108 Average indexed monthly earnings (AIME) 126 Average wage index 122, 228 Award 134 B Baby-boom generation 56, 66, 115, 141 Bend points 126 Beneficiaries, DI 140 Beneficiary 15, 48, 66, 85, 123, 179, 192, 223, 231, 240 Beneficiary, OASI 134 Benefit payments 8, 56, 157, 164, 184 Benefit termination 10 Best estimate 10, 43, 85 Board of Trustees 43, 105, 162 C Constant dollars 232 Consumer Price Index 107, 197, 228, 245 Contribution and benefit base 47, 109, 123, 245 Contributions 8, 162, 184, 217, 223, 231, 244 Cost 3, 8, 34, 50 Cost rate 4, 56, 217 Cost-of-living adjustment 122 Covered earnings 8, 122, 227 Covered employment 11, 47, 108, 130, 162 Covered worker 68, 194 Creditable earnings 247 Current dollars 228 Current-payment status 50, 146, 147, 245 D Deemed wage credit 56 Delayed retirement credit 129 Demographic assumptions 10, 25, 43, 86, 115, 122, 175, 229, 244 DI beneficiaries 140 Disability 162, 194, 240 Disability incidence rate 85, 141, 144, 194, 200, 244 Disability Insurance Trust Fund 246 Disability prevalence rate 147, 149 Disability termination rate 201 Disabled-worker benefit 144, 248 E Earnings 3, 8, 56, 108, 123, 162, 176, 217, 227, 228, 244 Earnings test 123, 245 Economic assumptions 10, 25, 43, 53, 105, 115, 122, 175, 229, 244 Excess wages 56, 228 Expenditures 43, 249 Exposed population 134, 143, 200, 249 F Federal Insurance Contributions Act 217, 254 Fertility assumptions 86 Financial interchange 8, 161, 164 Fiscal year 168, 183 Full advance funding 249 G General Fund of the Treasury 46, 48, 50, 52, 168, 170, 172, 188, 189, 190, 244 General Fund reimbursement 250 Gross domestic product 4, 13, 62, 85, 106, 117, 223 Gross domestic product projections 117 H High-cost assumptions 11, 43, 57, 85, 105, 145, 191, 211, 218, 228, 244 Hospital Insurance program 153, 217, 252 Hospital Insurance Trust Fund 223 I Immigration 10, 85, 93, 194, 244, 250 Immigration assumptions 93 Income rate 4, 14, 56, 217 Infinite horizon 13 Inflation 10, 85, 107, 228, 244 Inflation assumptions 107 Insured population 10, 131 Insured status 127 Interest 118, 163, 175, 184, 219, 244 Interest rate 85, 175, 198, 244 Interest rate projections 118 Interest rates 10 Interfund borrowing 168, 251 Intermediate assumptions 11, 43, 57, 85, 145, 191, 219, 223, 228, 232, 234, 240, 244 L Labor force projections 114 Lawful Permanent Resident (LPR) immigration 93 Legal emigration 251 Legal immigration 251 Life expectancy 85, 102, 114, 251 Life expectancy estimates 102 Long range 13, 55, 86, 134, 175, 217, 223 Low-cost assumptions 11, 43, 57, 85, 105, 145, 191, 211, 218, 228, 244 LPR immigrants 251 LPR immigration 251 Lump-sum death payment 157 M Medicare 88, 252 Military service 56, 162, 168, 170, 172 N National average wage index 228 Normal retirement age 123, 140, 157, 247 O OASI beneficiaries 134 Old-Age and Survivors Insurance Trust Fund 162, 246 Old-law base 127 P Par value 164, 253 Partial advance funding 253 Pay-as-you-go financing 175 Payroll taxes 3, 122, 150, 179, 213, 217, 231 Population estimates 99 Present value 175 Primary insurance amount (PIA) 126 Productivity assumptions 106 Q Quarters of coverage 131 R Railroad Retirement 56, 73, 127, 161, 164, 184, 185, 186, 217, 223, 231, 246 Reallocation of tax rates 255 Reserves 3, 8, 12, 34, 184, 198, 217 Retired-worker benefit 134, 194, 240 Retirement age 123, 157, 247 Retirement earnings test 123 S Scenario-based model 255 Scheduled benefits 197, 223, 231, 242, 255 Self-employment 56, 107, 218, 254 Self-Employment Contributions Act 254, 255 Sensitivity analysis 191 Short range 12, 43, 134 Social Security Act 122, 163, 228, 240, 246 Social Security amendments 42 Solvency 256 Special public-debt obligation 121, 163, 198 Stochastic projections 203 Substantial gainful activity 140, 248 Summarized balance 224 Summarized income and cost rates 73, 175, 191, 221, 244 Supplemental Security Income 184 Supplementary Medical Insurance program 217, 252 Survivor benefit 2, 9, 138, 245 Sustainable solvency 69, 70 T Taxable earnings 47, 68, 123, 176, 245 Taxable payroll 5, 27, 56, 107, 131, 175, 192, 217, 223, 228, 246 Taxable ratio 199 Taxable self-employment income 257 Taxable wages 155, 218, 257 Taxation of benefits 8, 155, 223, 231, 251 Taxes 8, 122, 218 Temporary or unlawfully present emigration 93 Temporary or unlawfully present immigration 93 Termination 85 Termination rate 10, 134, 201, 244 Test of long-range close actuarial balance 55, 69, 71 Test of short-range financial adequacy 12, 13, 44, 45, 71, 258 Total fertility rate 86, 191 Trust fund financial operations 8, 30, 44, 162 Trust fund ratio 12, 43, 55, 69, 168, 188, 259, 260 Trust fund reserves 43 U Unemployment projections 114 Unfunded obligation 5, 13, 19, 20, 55, 76, 77, 214, 215, 253, 260, 261 Unnegotiated check 184 V Valuation period 18, 53, 55, 175, 191, 221, 244 Vocational rehabilitation 56, 164, 185, 223, 231, 242, 246 Y Year of depletion 14, 18, 55, 71
