2012 OASDI Trustees Report

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A
Actuarial balance 10, 14, 46, 156, 169
Actuarial balance ratio 67, 68, 69, 70
Actuarial balance, long-range test 70
Actuarial deficit 4, 14, 21, 61, 194
Actuarial estimates, LR 46
Actuarial estimates, SR 35
Adjusted program amounts 107
Administrative expenses 6, 32, 47, 143, 147, 163, 195, 203
Advance tax transfers 56, 149
Amendments 34
Annual balance 19, 46, 71
Assets 2, 6, 9, 26, 35, 147, 163, 176, 189, 201
Assumptions 9, 76, 92, 107, 156, 169, 190, 195, 200, 210
Automatic cost-of-living benefit increase 39, 93, 107
Auxiliary benefits 117
Average benefits 140
Average earnings assumptions 95
Average indexed monthly earnings (AIME) 110
Average wage index 107, 200
Award 118
B
Baby-boom generation 3, 21, 41, 47, 52, 100, 125
Bend points 110
Beneficiaries, DI 124
Beneficiary 11, 39, 52, 76, 108, 159, 170, 195, 203, 210
Beneficiary, OASI 118
Benefit payments 6, 36, 47, 140, 147, 163, 175, 195, 203, 212
Benefit termination 8, 41
Best estimate 8, 21, 35, 76
Board of Trustees 35, 92, 145
C
Close actuarial balance 46, 67
Constant dollars 205
Consumer Price Index 93, 174, 200, 215
Contribution and benefit base 38, 95, 108, 215
Contributions 6, 145, 163, 189, 195, 203, 214
Cost 3
Cost rate 3, 10, 46, 189
Cost-of-living adjustment 107
Covered earnings 6, 107, 199
Covered employment 8, 38, 95, 115, 145, 173
Covered worker 54, 115, 171
Creditable earnings 217
Current dollars 200
Current-payment status 41, 129, 130, 131, 216
D
Deemed wage credit 47
Delayed retirement credit 114
Demographic assumptions 8, 19, 35, 77, 100, 107, 156, 201, 214
Deterministic model 179, 188
DI beneficiaries 124
Disability 145, 172, 210
Disability conversion ratio 129
Disability incidence rate 76, 125, 127, 172, 177, 214
Disability Insurance Trust Fund 216
Disability prevalence rate 131, 133
Disability termination rate 177
Disabled-worker benefit 127, 218
Disbursements 23, 24, 25, 28, 30, 35, 163, 164, 165, 211, 213
E
Earnings 2, 6, 38, 47, 95, 108, 145, 157, 189, 199, 200, 214
Earnings test 95, 108, 215
Economic assumptions 8, 19, 35, 44, 92, 100, 107, 156, 201, 214
Excess wages 47, 200
Expenditures 6, 8, 27, 33, 35, 39, 42, 147, 218
F
Federal Insurance Contributions Act 189, 224
Fertility assumptions 77
Financial interchange 6, 143, 147
Fiscal year 81, 149, 162
Full advance funding 219
G
General Fund of the Treasury 37, 39, 40, 43, 149, 151, 153, 166, 167, 168, 214
General fund reimbursement 219
Gross domestic product 3, 10, 52, 76, 93, 102, 195
Gross domestic product projections 102
H
High-cost assumptions 8, 16, 35, 36, 47, 76, 92, 128, 169, 187, 190, 195, 200, 215
Hospital Insurance program 137, 189, 222
Hospital Insurance Trust Fund 195
I
Immigration 8, 76, 77, 80, 84, 172, 179, 214, 220
Immigration assumptions 80
Income rate 3, 10, 46, 189
Infinite horizon 10
Inflation 8, 76, 93, 200, 214
Inflation assumptions 93
Insured population 8, 116
Insured status 112
Interest 38, 103, 146, 156, 163, 191, 214
Interest rate 76, 156, 176, 214
Interest rate projections 103
Interest rates 8
Interfund borrowing 149, 221
Intermediate assumptions 8, 35, 39, 47, 76, 128, 169, 191, 195, 200, 204, 205, 206, 210, 214
L
Labor force projections 100
Legal immigration 81, 85, 221
Life expectancy 3, 21, 76, 89, 100, 221
Life expectancy estimates 88
Long range 10, 46, 77, 118, 156, 189, 195
Low-cost assumptions 8, 16, 35, 47, 76, 92, 128, 169, 187, 190, 200, 214
Lump-sum death payment 140
M
Medicare 79, 222
Military service 37, 40, 43, 47, 95, 144, 145, 149, 151, 153, 166, 167, 168
N
National average wage index 107, 200
Normal retirement age 108, 124, 140, 217
O
OASI beneficiaries 118
Old-Age and Survivors Insurance Trust Fund 145, 216
Old-law base 112
Other immigration 80, 172, 223
P
Par value 146
Partial advance funding 223
Pay-as-you-go financing 156
Payroll taxes 2, 22, 61, 107, 134, 159, 169, 189, 203
Population estimates 86
Population in the Social Security area 38, 55, 86, 115, 172
Present value 156
Primary insurance amount (PIA) 110
Productivity assumptions 93
Q
Quarters of coverage 116
R
Railroad Retirement 47, 60, 112, 143, 147, 163, 164, 165, 189, 195, 203, 216
Reallocation of tax rates 225
Real-wage differential 97, 173
Recession 10, 31, 38
Retired-worker benefit 118, 171, 210
Retirement age 41, 108, 140, 217
Retirement earnings test 95, 108
Retirement eligibility age 171
S
Scenario-based model 225
Self-employment 47, 94, 190, 224
Self-Employment Contributions Act 224, 225
Sensitivity analysis 169
Short range 9, 35, 118
Social Security Act 107, 146, 200, 210, 216
Social Security amendments 34
Solvency 226
Special public-debt obligation 106, 146, 176
Stochastic projections 179
Substantial gainful activity 124, 217
Summarized balance 196
Summarized income and cost rates 60, 156, 169, 193, 214
Supplemental Security Income 163
Supplementary Medical Insurance program 189, 222
Survivor benefit 2, 7, 121, 215
Sustainable solvency 56, 57
T
Taxable earnings 38, 55, 108, 157, 215
Taxable payroll 4, 21, 47, 94, 116, 156, 170, 189, 195, 200, 216
Taxable self-employment income 227
Taxable wages 139, 190, 227
Taxation of benefits 6, 139, 195, 203, 220
Taxes 6, 107, 190
Termination 41, 76
Termination rate 8, 41, 118, 177, 214
Test of short-range financial adequacy 36, 68, 225
Total fertility rate 77, 169
Trust fund financial operations 6, 23, 36, 145
Trust fund ratio 9, 35, 46, 56, 149, 166, 229
U
Unemployment projections 100
Unfunded obligation 4, 10, 14, 15, 19, 46, 63, 64, 66, 67, 187, 223, 229, 230
Unnegotiated check 163
V
Valuation period 14, 46, 156, 169, 193, 214
Vocational rehabilitation 47, 147, 164, 195, 203, 212, 216
Y
Year of exhaustion 10, 13, 22, 46, 58

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