2022 OASDI Trustees Report

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INDEX
A
Actuarial balance 12, 17, 53, 169, 183
Actuarial deficit 4, 17, 26, 72, 215
Actuarial estimates, LR 53
Actuarial estimates, SR 41
Adjusted program amounts 118
Administrative expenses 7, 38, 54, 156, 159, 177, 216, 224
Advance tax transfers 41, 66, 162
Amendments 40
Annual balance 23, 53, 76
Asset reserves 2, 7, 11, 32, 177, 191, 210
Assumptions 82, 102, 118, 169, 183, 211, 216, 221, 234
Automatic cost-of-living benefit increase 46, 103, 118
Auxiliary benefits 128
Average benefits 152
Average earnings assumptions 105
Average indexed monthly earnings (AIME) 122
Average wage index 118, 221
Award 130
B
Baby-boom generation 25, 54, 63, 111, 137
Bend points 122
Beneficiaries, DI 136
Beneficiary 14, 46, 63, 82, 119, 172, 184, 216, 224, 234
Beneficiary, OASI 130
Benefit payments 7, 54, 153, 159, 177
Benefit termination 9
Best estimate 9, 41, 82
Board of Trustees 41, 102, 157
C
Constant dollars 226
Consumer Price Index 103, 189, 221, 239
Contribution and benefit base 45, 105, 119, 239
Contributions 7, 157, 177, 210, 216, 224, 238
Cost 3, 7, 32, 49
Cost rate 4, 54, 210
Cost-of-living adjustment 118
Covered earnings 7, 118, 220
Covered employment 10, 45, 105, 126, 157, 188
Covered worker 65, 186
Creditable earnings 241
Current dollars 221
Current-payment status 48, 141, 142, 143, 239
D
Deemed wage credit 54
Delayed retirement credit 125
Demographic assumptions 9, 23, 41, 83, 111, 118, 169, 222, 238
Deterministic model 196
DI beneficiaries 136
Disability 157, 186, 234
Disability conversion ratio 141
Disability incidence rate 82, 136, 139, 186, 193, 238
Disability Insurance Trust Fund 240
Disability prevalence rate 143, 145
Disability termination rate 194
Disabled-worker benefit 139, 242
Disbursements 41
E
Earnings 2, 7, 54, 105, 119, 157, 170, 210, 220, 221, 238
Earnings test 105, 119, 239
Economic assumptions 9, 23, 41, 51, 102, 111, 118, 169, 222, 238
Excess wages 54, 221
Expenditures 41, 243
Exposed population 4, 130, 138, 193, 243
F
Federal Insurance Contributions Act 210, 248
Fertility assumptions 83
Financial interchange 7, 156, 159
Fiscal year 162, 176
Full advance funding 243
G
General Fund of the Treasury 44, 46, 48, 50, 162, 164, 166, 180, 181, 182, 238
General fund reimbursement 244
Gross domestic product 4, 12, 60, 82, 103, 113, 216
Gross domestic product projections 113
H
High-cost assumptions 10, 19, 41, 55, 82, 102, 140, 183, 204, 211, 221, 238
Hospital Insurance program 149, 210, 246
Hospital Insurance Trust Fund 216
I
Immigration 9, 82, 89, 186, 238, 245
Immigration assumptions 89
Income rate 4, 13, 54, 210
Infinite horizon 12
Inflation 9, 82, 103, 221, 238
Inflation assumptions 103
Insured population 9, 127
Insured status 123
Interest 114, 158, 169, 177, 212, 238
Interest rate 82, 169, 190, 238
Interest rate projections 114
Interest rates 9
Interfund borrowing 162, 245
Intermediate assumptions 10, 41, 46, 55, 82, 140, 183, 212, 217, 221, 226, 228, 234, 238
L
Labor force projections 110
Lawful Permanent Resident (LPR) immigration 90
Legal immigration 245, 246
Life expectancy 82, 99, 111, 246
Life expectancy estimates 98
Long range 12, 53, 83, 130, 169, 210, 216
Low-cost assumptions 10, 19, 41, 55, 82, 102, 140, 183, 204, 211, 221, 238
Lump-sum death payment 153
M
Medicare 85, 246
Military service 54, 157, 162, 164, 166
N
National average wage index 221
Normal retirement age 119, 136, 153, 241
O
OASI beneficiaries 130
Old-Age and Survivors Insurance Trust Fund 157, 240
Old-law base 123
Other immigration 247
Other-than-LPR immigration 90
P
Par value 158
Partial advance funding 248
Pay-as-you-go financing 169
Payroll taxes 2, 118, 147, 172, 206, 210, 224
Population estimates 96
Population in the Social Security area 45, 65, 96, 126, 187
Present value 169
Primary insurance amount (PIA) 122
Productivity assumptions 103
Q
Quarters of coverage 127
R
Railroad Retirement 54, 71, 123, 156, 159, 177, 178, 179, 210, 216, 224, 240
Reallocation of tax rates 249
Real-wage differential 108, 187
Retired-worker benefit 130, 186, 234
Retirement age 119, 153, 241
Retirement earnings test 105, 119
Retirement eligibility age 186
S
Scenario-based model 249
Scheduled benefits 190, 216, 224, 236, 249
Self-employment 54, 104, 211, 248
Self-Employment Contributions Act 248, 249
Sensitivity analysis 183
Short range 11, 41, 130
Social Security Act 118, 158, 221, 234, 240
Social Security amendments 40
Solvency 250
Special public-debt obligation 117, 158, 190
Stochastic projections 196
Substantial gainful activity 136, 242
Summarized balance 217
Summarized income and cost rates 71, 169, 183, 214, 238
Supplemental Security Income 177
Supplementary Medical Insurance program 210, 246
Survivor benefit 2, 8, 133, 239
Sustainable solvency 66, 67
T
Taxable earnings 45, 65, 119, 170, 239
Taxable payroll 4, 26, 54, 104, 127, 169, 184, 210, 216, 221, 240
Taxable ratio 191
Taxable self-employment income 251
Taxable wages 151, 211, 252
Taxation of benefits 7, 151, 216, 224, 245
Taxes 7, 118, 211
Termination 82
Termination rate 9, 130, 194, 238
Test of long-range close actuarial balance 53, 66, 69
Test of short-range financial adequacy 11, 12, 42, 43, 69, 252
Total fertility rate 84, 183
Trust fund financial operations 7, 28, 42, 157
Trust fund ratio 11, 41, 53, 66, 162, 180, 254
Trust fund reserves 41
U
Unemployment projections 110
Unfunded obligation 5, 12, 17, 19, 53, 74, 75, 208, 247, 254, 255
Unnegotiated check 177
V
Valuation period 17, 51, 53, 169, 183, 214, 238
Vocational rehabilitation 54, 159, 178, 216, 224, 236, 240
Y
Year of depletion 13, 16, 53, 68

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