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<h2 class="pHeading1">2011 OASDI Trustees Report </h2>
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<div class="GroupTitlesIX" style="margin-top: 0.0pt"><a name="185632">A</a></div>
<div class="Level1IX"><a name="185636">Actuarial balance</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#115330" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#107503" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">11</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#253574" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#122060" title="V_C_prog.html">114</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#102806" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#113890" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span></div>
<div class="Level1IX"><a name="185643">Actuarial balance, long-range test</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#220056" title="LONG-RANGE ESTIMATES">71</a></span></div>
<div class="Level1IX"><a name="185645">Actuarial deficit</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91360" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#107503" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">11</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#89430" title="CONCLUSION">20</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#332573" title="LONG-RANGE ESTIMATES">61</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#140036" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">184</a></span></div>
<div class="Level1IX"><a name="185651">Actuarial estimates, LR</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#378399" title="LONG-RANGE ESTIMATES">46</a></span></div>
<div class="Level1IX"><a name="185653">Actuarial estimates, SR</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#90333" title="ACTUARIAL ESTIMATES">34</a></span></div>
<div class="Level1IX"><a name="185655">Adjusted program amounts</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#96145" title="V_C_prog.html">106</a></span></div>
<div class="Level1IX"><a name="185657">Administrative expenses</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96358" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#157074" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">31</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#345277" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#90089" title="V_C_prog.html">134</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171993" title="APPENDICES">141</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221834" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span></div>
<div class="Level1IX"><a name="185666">Advance tax transfers</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#179692" title="LONG-RANGE ESTIMATES">56</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#208319" title="APPENDICES">143</a></span></div>
<div class="Level1IX"><a name="185669">Amendments</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="III_B_amdmts.html#92782" title="SOCIAL SECURITY AMENDMENTS SINCE THE 2010 REPORT">33</a></span></div>
<div class="Level1IX"><a name="185671">Annual balance</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112155" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">18</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#253574" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#219401" title="LONG-RANGE ESTIMATES">72</a></span></div>
<div class="Level1IX"><a name="185675">Assets</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#88684" title="OVERVIEW">2</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#95001" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112966" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#156894" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">25</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#324377" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#91526" title="APPENDICES">141</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221489" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#99701" title="LONG-RANGE SENSITIVITY ANALYSIS">169</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146935" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#92524" title="Estimates in Dollars">191</a></span></div>
<div class="Level1IX"><a name="185686">Assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#88688" title="OVERVIEW">2</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112966" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#401793" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#193783" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#170227" title="ECONOMIC ASSUMPTIONS AND METHODS">92</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#147902" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92481" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#92463" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#93136" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">180</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200776" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#92481" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">203</a></span></div>
<div class="Level1IX"><a name="185699">Automatic cost-of-living benefit increase</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307898" title="ACTUARIAL ESTIMATES">38</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#152741" title="ECONOMIC ASSUMPTIONS AND METHODS">94</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#274913" title="V_C_prog.html">106</a></span></div>
<div class="Level1IX"><a name="185703">Auxiliary benefits</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#265326" title="V_C_prog.html">116</a></span></div>
<div class="Level1IX"><a name="185705">Average benefits</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#90083" title="V_C_prog.html">133</a></span></div>
<div class="Level1IX"><a name="185707">Average earnings assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#131323" title="ECONOMIC ASSUMPTIONS AND METHODS">95</a></span></div>
<div class="Level1IX"><a name="185709">Average indexed monthly earnings (AIME)</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#85398" title="V_C_prog.html">109</a></span></div>
<div class="Level1IX"><a name="185711">Average wage index</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#147567" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200791" title="Estimates in Dollars">190</a></span></div>
<div class="Level1IX"><a name="185714">Award</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#147069" title="V_C_prog.html">118</a></span></div>
<div class="GroupTitlesIX"><a name="185716">B</a></div>
<div class="Level1IX"><a name="185718">Baby-boom generation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91007" title="OVERVIEW">2</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#90905" title="CONCLUSION">20</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#77658" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#189347" title="LONG-RANGE ESTIMATES">48</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#345410" title="LONG-RANGE ESTIMATES">52</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#189717" title="ECONOMIC ASSUMPTIONS AND METHODS">100</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#276917" title="V_C_prog.html">124</a></span></div>
<div class="Level1IX"><a name="185726">Bend points</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#85398" title="V_C_prog.html">109</a></span></div>
<div class="Level1IX"><a name="185728">Beneficiaries, DI</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#89099" title="V_C_prog.html">123</a></span></div>
<div class="Level1IX"><a name="185730">Beneficiary</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#116444" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">10</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307898" title="ACTUARIAL ESTIMATES">38</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#222190" title="LONG-RANGE ESTIMATES">52</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#237033" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#96217" title="V_C_prog.html">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#103221" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">153</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#92683" title="LONG-RANGE SENSITIVITY ANALYSIS">163</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#97986" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">203</a></span></div>
<div class="Level1IX"><a name="185741">Beneficiary, OASI</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#87223" title="V_C_prog.html">118</a></span></div>
<div class="Level1IX"><a name="185743">Benefit payments</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96334" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#90394" title="ACTUARIAL ESTIMATES">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#345277" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#90086" title="V_C_prog.html">134</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171993" title="APPENDICES">141</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221565" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#111058" title="LONG-RANGE SENSITIVITY ANALYSIS">168</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#98513" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">205</a></span></div>
<div class="Level1IX"><a name="185754">Benefit termination</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307959" title="ACTUARIAL ESTIMATES">40</a></span></div>
<div class="Level1IX"><a name="185757">Best estimate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95805" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#90905" title="CONCLUSION">20</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203486" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79481" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span></div>
<div class="Level1IX"><a name="185762">Board of Trustees</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203486" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#168840" title="ECONOMIC ASSUMPTIONS AND METHODS">92</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#170588" title="APPENDICES">137</a></span></div>
<div class="GroupTitlesIX"><a name="185766">C</a></div>
<div class="Level1IX"><a name="185768">Close actuarial balance</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#189677" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#408304" title="LONG-RANGE ESTIMATES">67</a></span></div>
<div class="Level1IX"><a name="185771">Closed group unfunded obligation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#408785" title="LONG-RANGE ESTIMATES">67</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045027" title="GLOSSARY">209</a></span></div>
<div class="Level1IX"><a name="185774">Constant dollars</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200916" title="Estimates in Dollars">195</a></span></div>
<div class="Level1IX"><a name="185776">Consumer Price Index</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#152741" title="ECONOMIC ASSUMPTIONS AND METHODS">94</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#93311" title="LONG-RANGE SENSITIVITY ANALYSIS">168</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200776" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045654" title="GLOSSARY">208</a></span></div>
<div class="Level1IX"><a name="185781">Contribution and benefit base</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#308643" title="ACTUARIAL ESTIMATES">37</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#205088" title="ECONOMIC ASSUMPTIONS AND METHODS">95</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#237341" title="V_C_prog.html">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#196798" title="APPENDICES">138</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200791" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1006999" title="GLOSSARY">208</a></span></div>
<div class="Level1IX"><a name="185788">Contributions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96454" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212031" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221516" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146906" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1006983" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="185796">Cost</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91213" title="OVERVIEW">2</a></span></div>
<div class="Level1IX"><a name="185798">Cost rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91134" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#116119" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#154978" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#122060" title="V_C_prog.html">114</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#101354" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span></div>
<div class="Level1IX"><a name="185804">Cost-of-living adjustment</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#274913" title="V_C_prog.html">106</a></span></div>
<div class="Level1IX"><a name="185806">Covered earnings</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96454" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#279030" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#125493" title="Estimates as a Percentage of Gross Domestic Product">189</a></span></div>
<div class="Level1IX"><a name="185810">Covered employment</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#97310" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#308643" title="ACTUARIAL ESTIMATES">37</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#205088" title="ECONOMIC ASSUMPTIONS AND METHODS">95</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#121228" title="V_C_prog.html">113</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212031" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#93102" title="LONG-RANGE SENSITIVITY ANALYSIS">167</a></span></div>
<div class="Level1IX"><a name="185817">Covered worker</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#366577" title="LONG-RANGE ESTIMATES">54</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#122044" title="V_C_prog.html">113</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#105504" title="LONG-RANGE SENSITIVITY ANALYSIS">165</a></span></div>
<div class="Level1IX"><a name="185821">Creditable earnings</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1005523" title="GLOSSARY">210</a></span></div>
<div class="Level1IX"><a name="185823">Current dollars</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#138318" title="Estimates in Dollars">190</a></span></div>
<div class="Level1IX"><a name="185825">Current-payment status</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#77658" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#251311" title="V_C_prog.html">128</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#217051" title="V_C_prog.html">129</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#266223" title="V_C_prog.html">130</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007020" title="GLOSSARY">208</a></span></div>
<div class="GroupTitlesIX"><a name="185831">D</a></div>
<div class="Level1IX"><a name="185833">Deemed wage credit</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#178414" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#122060" title="V_C_prog.html">114</a></span></div>
<div class="Level1IX"><a name="185836">Delayed retirement credit</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#121305" title="V_C_prog.html">112</a></span></div>
<div class="Level1IX"><a name="185838">Demographic assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112176" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">18</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203486" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#401793" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79489" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">78</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#204654" title="ECONOMIC ASSUMPTIONS AND METHODS">100</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#279030" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92481" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#92513" title="Estimates in Dollars">191</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="185849">Deterministic model</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#100962" title="STOCHASTIC PROJECTIONS">173</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#107108" title="STOCHASTIC PROJECTIONS">178</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1042981" title="GLOSSARY">210</a></span></div>
<div class="Level1IX"><a name="185853">DI beneficiaries</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#89099" title="V_C_prog.html">123</a></span></div>
<div class="Level1IX"><a name="185855">Disability</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#170588" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#105504" title="LONG-RANGE SENSITIVITY ANALYSIS">165</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#94483" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">203</a></span></div>
<div class="Level1IX"><a name="185859">Disability conversion ratio</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#278860" title="V_C_prog.html">128</a></span></div>
<div class="Level1IX"><a name="185861">Disability incidence rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#101919" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#278095" title="V_C_prog.html">124</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#216727" title="V_C_prog.html">126</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#105504" title="LONG-RANGE SENSITIVITY ANALYSIS">165</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#103017" title="LONG-RANGE SENSITIVITY ANALYSIS">170</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="185868">Disability Insurance Trust Fund</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045020" title="GLOSSARY">209</a></span></div>
<div class="Level1IX"><a name="185870">Disability prevalence rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#266258" title="V_C_prog.html">130</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#217122" title="V_C_prog.html">132</a></span></div>
<div class="Level1IX"><a name="185873">Disability termination rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#93910" title="LONG-RANGE SENSITIVITY ANALYSIS">171</a></span></div>
<div class="Level1IX"><a name="185875">Disabled-worker benefit</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#216758" title="V_C_prog.html">126</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045168" title="GLOSSARY">211</a></span></div>
<div class="Level1IX"><a name="185878">Disbursements</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#156534" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">22</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#172476" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">23</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#168493" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">24</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#169925" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">27</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#161514" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">28</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#172804" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">29</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203750" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221706" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#278667" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">157</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#241291" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">158</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#117928" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">204</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#97989" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">205</a></span></div>
<div class="GroupTitlesIX"><a name="185891">E</a></div>
<div class="Level1IX"><a name="185893">Earnings</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#88684" title="OVERVIEW">2</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96454" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#308643" title="ACTUARIAL ESTIMATES">37</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#178405" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#131323" title="ECONOMIC ASSUMPTIONS AND METHODS">95</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#224344" title="V_C_prog.html">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212031" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92490" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">151</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#101354" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#125493" title="Estimates as a Percentage of Gross Domestic Product">189</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200791" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="185906">Earnings test</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#205088" title="ECONOMIC ASSUMPTIONS AND METHODS">95</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#96217" title="V_C_prog.html">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1006999" title="GLOSSARY">208</a></span></div>
<div class="Level1IX"><a name="185910">Economic assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112189" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">18</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203486" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#297495" title="ACTUARIAL ESTIMATES">44</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#401793" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#170227" title="ECONOMIC ASSUMPTIONS AND METHODS">92</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#204654" title="ECONOMIC ASSUMPTIONS AND METHODS">100</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#279030" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92481" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#92513" title="Estimates in Dollars">191</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="185922">Excess wages</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#178414" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#122060" title="V_C_prog.html">114</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#116204" title="Estimates in Dollars">190</a></span></div>
<div class="Level1IX"><a name="185926">Expenditures</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#95001" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#156922" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">26</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#147356" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">32</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203750" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307898" title="ACTUARIAL ESTIMATES">38</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#275449" title="ACTUARIAL ESTIMATES">41</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171993" title="APPENDICES">141</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1042802" title="GLOSSARY">211</a></span></div>
<div class="GroupTitlesIX"><a name="185936">F</a></div>
<div class="Level1IX"><a name="185938">Federal Insurance Contributions Act</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146906" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045962" title="GLOSSARY">216</a></span></div>
<div class="Level1IX"><a name="185941">Fertility assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79491" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">78</a></span></div>
<div class="Level1IX"><a name="185943">Financial interchange</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96347" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#90091" title="V_C_prog.html">134</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#172024" title="APPENDICES">141</a></span></div>
<div class="Level1IX"><a name="185947">Fiscal year</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#201569" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">82</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#208319" title="APPENDICES">143</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#185082" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">155</a></span></div>
<div class="Level1IX"><a name="185951">Full advance funding</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043447" title="GLOSSARY">212</a></span></div>
<div class="GroupTitlesIX"><a name="185953">G</a></div>
<div class="Level1IX"><a name="185955">General Fund of the Treasury</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#335532" title="ACTUARIAL ESTIMATES">36</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307803" title="ACTUARIAL ESTIMATES">38</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#77658" title="ACTUARIAL ESTIMATES">39</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#335026" title="ACTUARIAL ESTIMATES">42</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212128" title="APPENDICES">139</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#208311" title="APPENDICES">143</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#207022" title="APPENDICES">145</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#207060" title="APPENDICES">147</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#276558" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">159</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#274395" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">160</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#274652" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">161</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1006985" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="185968">General fund reimbursement</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1005571" title="GLOSSARY">212</a></span></div>
<div class="Level1IX"><a name="185970">Gross domestic product</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91134" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#408867" title="LONG-RANGE ESTIMATES">52</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#101919" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#209585" title="ECONOMIC ASSUMPTIONS AND METHODS">93</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#225691" title="ECONOMIC ASSUMPTIONS AND METHODS">102</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#113389" title="Estimates as a Percentage of Gross Domestic Product">185</a></span></div>
<div class="Level1IX"><a name="185977">Gross domestic product projections</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#168800" title="ECONOMIC ASSUMPTIONS AND METHODS">102</a></span></div>
<div class="GroupTitlesIX"><a name="185979">H</a></div>
<div class="Level1IX"><a name="185981">High-cost assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#97267" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112734" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">15</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203486" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#181205" title="ACTUARIAL ESTIMATES">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#400379" title="LONG-RANGE ESTIMATES">48</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79481" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#168840" title="ECONOMIC ASSUMPTIONS AND METHODS">92</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#278792" title="V_C_prog.html">127</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#92463" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#103397" title="STOCHASTIC PROJECTIONS">177</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#93136" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">180</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#154813" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200776" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041554" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="185996">Hospital Insurance program</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#196805" title="APPENDICES">138</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146935" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007169" title="GLOSSARY">214</a></span></div>
<div class="Level1IX"><a name="186000">Hospital Insurance Trust Fund</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#92470" title="Estimates as a Percentage of Gross Domestic Product">185</a></span></div>
<div class="GroupTitlesIX"><a name="186002">I</a></div>
<div class="Level1IX"><a name="186004">Immigration</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#101919" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79490" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">78</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79519" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">81</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#235196" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">85</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#92900" title="LONG-RANGE SENSITIVITY ANALYSIS">165</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#100962" title="STOCHASTIC PROJECTIONS">173</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043023" title="GLOSSARY">213</a></span></div>
<div class="Level1IX"><a name="186014">Immigration assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79519" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">81</a></span></div>
<div class="Level1IX"><a name="186016">Income rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91134" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#116119" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#154978" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#101354" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span></div>
<div class="Level1IX"><a name="186021">Inflation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#101919" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#131314" title="ECONOMIC ASSUMPTIONS AND METHODS">94</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#138318" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="186027">Inflation assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#131314" title="ECONOMIC ASSUMPTIONS AND METHODS">94</a></span></div>
<div class="Level1IX"><a name="186029">Insured population</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#87218" title="V_C_prog.html">115</a></span></div>
<div class="Level1IX"><a name="186032">Insured status</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#96259" title="V_C_prog.html">111</a></span></div>
<div class="Level1IX"><a name="186034">Interest</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#308643" title="ACTUARIAL ESTIMATES">37</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#209903" title="ECONOMIC ASSUMPTIONS AND METHODS">102</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171945" title="APPENDICES">140</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92481" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221631" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#93136" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">181</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#92524" title="Estimates in Dollars">191</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1006985" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="186044">Interest rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307891" title="ACTUARIAL ESTIMATES">38</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#101919" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92481" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#93516" title="LONG-RANGE SENSITIVITY ANALYSIS">169</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#92524" title="Estimates in Dollars">191</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="186051">Interest rate projections</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#209902" title="ECONOMIC ASSUMPTIONS AND METHODS">102</a></span></div>
<div class="Level1IX"><a name="186053">Interest rates</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span></div>
<div class="Level1IX"><a name="186055">Interfund borrowing</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#208319" title="APPENDICES">143</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007653" title="GLOSSARY">213</a></span></div>
<div class="Level1IX"><a name="186058">Intermediate assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#97261" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203486" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307891" title="ACTUARIAL ESTIMATES">38</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#339335" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#400379" title="LONG-RANGE ESTIMATES">48</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79481" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#278792" title="V_C_prog.html">127</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#92463" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#105570" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">181</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#154813" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200776" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#197054" title="Estimates in Dollars">194</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200916" title="Estimates in Dollars">195</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#201996" title="Estimates in Dollars">196</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#92481" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">203</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041552" title="GLOSSARY">207</a></span></div>
<div class="GroupTitlesIX"><a name="186075">L</a></div>
<div class="Level1IX"><a name="186079">Labor force projections</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#189335" title="ECONOMIC ASSUMPTIONS AND METHODS">99</a></span></div>
<div class="Level1IX"><a name="186081">Legal immigration</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#201569" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">82</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#235219" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">86</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045270" title="GLOSSARY">214</a></span></div>
<div class="Level1IX"><a name="186085">Life expectancy</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91007" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#90905" title="CONCLUSION">20</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#101919" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#102065" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">89</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#161181" title="ECONOMIC ASSUMPTIONS AND METHODS">99</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043091" title="GLOSSARY">214</a></span></div>
<div class="Level1IX"><a name="186092">Life expectancy estimates</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#228705" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">89</a></span></div>
<div class="Level1IX"><a name="186094">Long range</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#117434" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#378399" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79484" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">78</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#87226" title="V_C_prog.html">118</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#102673" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146935" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#92470" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#138318" title="Estimates in Dollars">190</a></span></div>
<div class="Level1IX"><a name="186103">Low-cost assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#97264" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112734" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">15</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#203486" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#400379" title="LONG-RANGE ESTIMATES">48</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#79481" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#168840" title="ECONOMIC ASSUMPTIONS AND METHODS">92</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#278792" title="V_C_prog.html">127</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#92463" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#103397" title="STOCHASTIC PROJECTIONS">177</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#93136" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">180</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200776" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041553" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="186116">Lump-sum death payment</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#277887" title="V_C_prog.html">134</a></span></div>
<div class="GroupTitlesIX"><a name="186118">M</a></div>
<div class="Level1IX"><a name="186120">Medicare</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#205246" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">80</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007169" title="GLOSSARY">214</a></span></div>
<div class="Level1IX"><a name="186123">Military service</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#335532" title="ACTUARIAL ESTIMATES">36</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#77658" title="ACTUARIAL ESTIMATES">39</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#335026" title="ACTUARIAL ESTIMATES">42</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#178414" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#152760" title="ECONOMIC ASSUMPTIONS AND METHODS">95</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#122060" title="V_C_prog.html">114</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#146824" title="V_C_prog.html">135</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212031" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#208311" title="APPENDICES">143</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#207022" title="APPENDICES">145</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#207060" title="APPENDICES">147</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#276558" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">159</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#274395" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">160</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#274652" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">161</a></span></div>
<div class="GroupTitlesIX"><a name="186138">N</a></div>
<div class="Level1IX"><a name="186140">National average wage index</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#147567" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200791" title="Estimates in Dollars">190</a></span></div>
<div class="Level1IX"><a name="186143">Normal retirement age</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#96217" title="V_C_prog.html">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#251294" title="V_C_prog.html">123</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#114330" title="Estimates in Dollars">199</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1025756" title="GLOSSARY">210</a></span></div>
<div class="GroupTitlesIX"><a name="186148">O</a></div>
<div class="Level1IX"><a name="186150">OASI beneficiaries</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#87223" title="V_C_prog.html">118</a></span></div>
<div class="Level1IX"><a name="186152">Old-Age and Survivors Insurance Trust Fund</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#170588" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045020" title="GLOSSARY">209</a></span></div>
<div class="Level1IX"><a name="186155">Old-law base</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#250854" title="V_C_prog.html">111</a></span></div>
<div class="Level1IX"><a name="186157">Open group unfunded obligation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91360" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#115330" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#116927" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">18</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#300130" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#267887" title="LONG-RANGE ESTIMATES">63</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#253758" title="LONG-RANGE ESTIMATES">64</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#107550" title="STOCHASTIC PROJECTIONS">177</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045028" title="GLOSSARY">209</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043251" title="GLOSSARY">215</a></span></div>
<div class="Level1IX"><a name="186167">Other immigration</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#201585" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">82</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#100057" title="LONG-RANGE SENSITIVITY ANALYSIS">166</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045286" title="GLOSSARY">215</a></span></div>
<div class="GroupTitlesIX"><a name="186171">P</a></div>
<div class="Level1IX"><a name="186173">Par value</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171980" title="APPENDICES">141</a></span></div>
<div class="Level1IX"><a name="186175">Partial advance funding</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1005690" title="GLOSSARY">216</a></span></div>
<div class="Level1IX"><a name="186177">Pay-as-you-go financing</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92481" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span></div>
<div class="Level1IX"><a name="186179">Payroll taxes</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#88684" title="OVERVIEW">2</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#90996" title="CONCLUSION">21</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#328924" title="LONG-RANGE ESTIMATES">62</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#279030" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#121260" title="V_C_prog.html">114</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#103220" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">153</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#113890" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146935" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span></div>
<div class="Level1IX"><a name="186189">Population estimates</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#81231" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">86</a></span></div>
<div class="Level1IX"><a name="186191">Population in the Social Security area</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#308643" title="ACTUARIAL ESTIMATES">37</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#267346" title="LONG-RANGE ESTIMATES">55</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#177553" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">86</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#276475" title="V_C_prog.html">113</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#100057" title="LONG-RANGE SENSITIVITY ANALYSIS">166</a></span></div>
<div class="Level1IX"><a name="186197">Present value</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#102673" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span></div>
<div class="Level1IX"><a name="186199">Primary insurance amount (PIA)</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#85398" title="V_C_prog.html">109</a></span></div>
<div class="Level1IX"><a name="186201">Productivity assumptions</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#131307" title="ECONOMIC ASSUMPTIONS AND METHODS">93</a></span></div>
<div class="GroupTitlesIX"><a name="186203">Q</a></div>
<div class="Level1IX"><a name="186205">Quarters of coverage</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#250925" title="V_C_prog.html">115</a></span></div>
<div class="GroupTitlesIX"><a name="186207">R</a></div>
<div class="Level1IX"><a name="186209">Railroad Retirement</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#345277" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#250854" title="V_C_prog.html">111</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#90091" title="V_C_prog.html">134</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#172024" title="APPENDICES">141</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221808" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#278744" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">157</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#274330" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">158</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#101354" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1046199" title="GLOSSARY">209</a></span></div>
<div class="Level1IX"><a name="186221">Reallocation of tax rates</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1005728" title="GLOSSARY">217</a></span></div>
<div class="Level1IX"><a name="186223">Real-wage differential</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#214592" title="ECONOMIC ASSUMPTIONS AND METHODS">97</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#93102" title="LONG-RANGE SENSITIVITY ANALYSIS">166</a></span></div>
<div class="Level1IX"><a name="186226">Recession</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#116119" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#157059" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">30</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#308643" title="ACTUARIAL ESTIMATES">38</a></span></div>
<div class="Level1IX"><a name="186230">Retired-worker benefit</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#147069" title="V_C_prog.html">118</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#105504" title="LONG-RANGE SENSITIVITY ANALYSIS">165</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#92481" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">203</a></span></div>
<div class="Level1IX"><a name="186234">Retirement age</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307959" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#96217" title="V_C_prog.html">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#114330" title="Estimates in Dollars">199</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1025756" title="GLOSSARY">210</a></span></div>
<div class="Level1IX"><a name="186239">Retirement earnings test</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#205088" title="ECONOMIC ASSUMPTIONS AND METHODS">95</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#96217" title="V_C_prog.html">107</a></span></div>
<div class="Level1IX"><a name="186242">Retirement eligibility age</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="I_intro.html#1000419" title="THE 2011 ANNUAL REPORT OF THE BOARD OFTRUSTEES OF THE FEDERAL OLD-AGE ANDSURVIVORS INSURANCE AND FEDERAL DISABILITYINSURANCE TRUST FUNDS">1</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#105504" title="LONG-RANGE SENSITIVITY ANALYSIS">165</a></span></div>
<div class="GroupTitlesIX"><a name="186245">S</a></div>
<div class="Level1IX"><a name="186247">Self-employment</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#178414" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#152741" title="ECONOMIC ASSUMPTIONS AND METHODS">94</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#122060" title="V_C_prog.html">114</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212031" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#159818" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">180</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045964" title="GLOSSARY">216</a></span></div>
<div class="Level1IX"><a name="186254">Self-Employment Contributions Act</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045964" title="GLOSSARY">216</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1005755" title="GLOSSARY">218</a></span></div>
<div class="Level1IX"><a name="186257">Sensitivity analysis</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#100512" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span></div>
<div class="Level1IX"><a name="186259">Short range</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#77337" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#90333" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#147069" title="V_C_prog.html">118</a></span></div>
<div class="Level1IX"><a name="186263">Social Security Act</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#279030" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171963" title="APPENDICES">141</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#200791" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#94233" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">203</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045020" title="GLOSSARY">209</a></span></div>
<div class="Level1IX"><a name="186269">Social Security amendments</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="III_B_amdmts.html#92782" title="SOCIAL SECURITY AMENDMENTS SINCE THE 2010 REPORT">33</a></span></div>
<div class="Level1IX"><a name="186271">Solvency</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#401793" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043273" title="GLOSSARY">218</a></span></div>
<div class="Level1IX"><a name="186274">Special public-debt obligation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307803" title="ACTUARIAL ESTIMATES">38</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#223198" title="ECONOMIC ASSUMPTIONS AND METHODS">105</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171945" title="APPENDICES">140</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#93520" title="LONG-RANGE SENSITIVITY ANALYSIS">169</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#92524" title="Estimates in Dollars">191</a></span></div>
<div class="Level1IX"><a name="186280">Stochastic projections</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#100952" title="STOCHASTIC PROJECTIONS">173</a></span></div>
<div class="Level1IX"><a name="186282">Substantial gainful activity</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#251294" title="V_C_prog.html">123</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007092" title="GLOSSARY">210</a></span></div>
<div class="Level1IX"><a name="186285">Summarized balance</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#92514" title="Estimates as a Percentage of Gross Domestic Product">186</a></span></div>
<div class="Level1IX"><a name="186287">Summarized income and cost rates</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#269018" title="LONG-RANGE ESTIMATES">60</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#102673" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#113890" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#105250" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">183</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1039922" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="186293">Supplemental Security Income</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221660" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span></div>
<div class="Level1IX"><a name="186295">Supplementary Medical Insurance program</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146935" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007169" title="GLOSSARY">214</a></span></div>
<div class="Level1IX"><a name="186298">Survivor benefit</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#88684" title="OVERVIEW">2</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#97871" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">6</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#87237" title="V_C_prog.html">121</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007003" title="GLOSSARY">208</a></span></div>
<div class="GroupTitlesIX"><a name="186303">T</a></div>
<div class="Level1IX"><a name="186305">Taxable earnings</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#308643" title="ACTUARIAL ESTIMATES">37</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#267346" title="LONG-RANGE ESTIMATES">55</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#224344" title="V_C_prog.html">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#196796" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92490" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">151</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#95955" title="Estimates as a Percentage of Gross Domestic Product">189</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1006999" title="GLOSSARY">208</a></span></div>
<div class="Level1IX"><a name="186313">Taxable payroll</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91360" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#115330" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#89430" title="CONCLUSION">20</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#178405" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#152741" title="ECONOMIC ASSUMPTIONS AND METHODS">94</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#121260" title="V_C_prog.html">114</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#102673" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#97163" title="LONG-RANGE SENSITIVITY ANALYSIS">163</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#101354" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#92470" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#116204" title="Estimates in Dollars">190</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007080" title="GLOSSARY">209</a></span></div>
<div class="Level1IX"><a name="186326">Taxable self-employment income</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212031" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007254" title="GLOSSARY">220</a></span></div>
<div class="Level1IX"><a name="186329">Taxable wages</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#150113" title="V_C_prog.html">115</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#171352" title="APPENDICES">139</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#159818" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">180</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007252" title="GLOSSARY">220</a></span></div>
<div class="Level1IX"><a name="186334">Taxation of benefits</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96301" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#189347" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#129121" title="V_C_prog.html">135</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045065" title="GLOSSARY">213</a></span></div>
<div class="Level1IX"><a name="186341">Taxes</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#96454" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#279030" title="V_C_prog.html">106</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#212043" title="APPENDICES">137</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#146692" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">180</a></span></div>
<div class="Level1IX"><a name="186346">Termination</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307959" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#101919" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">77</a></span></div>
<div class="Level1IX"><a name="186349">Termination rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_C_assump.html#95495" title="ASSUMPTIONS ABOUT THE FUTURE">7</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#307931" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#147069" title="V_C_prog.html">118</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#93910" title="LONG-RANGE SENSITIVITY ANALYSIS">171</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1041544" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="186355">Test of short-range financial adequacy</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#324384" title="ACTUARIAL ESTIMATES">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#277012" title="LONG-RANGE ESTIMATES">68</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007232" title="GLOSSARY">218</a></span></div>
<div class="Level1IX"><a name="186359">Total fertility rate</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#205354" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">79</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#100885" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span></div>
<div class="Level1IX"><a name="186362">Trust fund financial operations</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_B_cyoper.html#94983" title="TRUST FUND FINANCIAL OPERATIONS IN 2010">5</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#84778" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">22</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#90386" title="ACTUARIAL ESTIMATES">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#207125" title="APPENDICES">137</a></span></div>
<div class="Level1IX"><a name="186367">Trust fund ratio</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#112966" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#324377" title="ACTUARIAL ESTIMATES">34</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#253574" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#366403" title="LONG-RANGE ESTIMATES">56</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#208350" title="APPENDICES">143</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#276585" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">159</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1005847" title="GLOSSARY">222</a></span></div>
<div class="GroupTitlesIX"><a name="186375">U</a></div>
<div class="Level1IX"><a name="186377">Unemployment projections</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#189335" title="ECONOMIC ASSUMPTIONS AND METHODS">99</a></span></div>
<div class="Level1IX"><a name="186379">Unfunded obligation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#91360" title="OVERVIEW">3</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#115330" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#116297" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">12</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#117399" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">14</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#116927" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">18</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#253574" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#267887" title="LONG-RANGE ESTIMATES">63</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#254423" title="LONG-RANGE ESTIMATES">64</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#408727" title="LONG-RANGE ESTIMATES">67</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#107550" title="STOCHASTIC PROJECTIONS">177</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1045027" title="GLOSSARY">209</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043251" title="GLOSSARY">215</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043291" title="GLOSSARY">222</a></span></div>
<div class="Level1IX"><a name="186393">Unnegotiated check</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#221784" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">156</a></span></div>
<div class="GroupTitlesIX"><a name="186395">V</a></div>
<div class="Level1IX"><a name="186397">Valuation period</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#107503" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">11</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#300130" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_B_LRact_bal.html#92478" title="HISTORY OF ACTUARIAL BALANCE ESTIMATES">150</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#113890" title="LONG-RANGE SENSITIVITY ANALYSIS">162</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#105250" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">183</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1039922" title="GLOSSARY">207</a></span></div>
<div class="Level1IX"><a name="186404">Vocational rehabilitation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#345277" title="LONG-RANGE ESTIMATES">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#172024" title="APPENDICES">141</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#278720" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2020">157</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#175400" title="Estimates as a Percentage of Gross Domestic Product">185</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#99491" title="Estimates in Dollars">193</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#94959" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">205</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1046199" title="GLOSSARY">209</a></span></div>
<div class="GroupTitlesIX"><a name="186412">Y</a></div>
<div class="Level1IX"><a name="186416">Year of exhaustion</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#115351" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">9</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#105724" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">11</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#90996" title="CONCLUSION">21</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#299975" title="LONG-RANGE ESTIMATES">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#403765" title="LONG-RANGE ESTIMATES">58</a></span></div>
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