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<h2 class="pHeading1">2012 OASDI Trustees Report </h2>
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<div class="Lists"><a name="77721"></a></div>
<div class="GroupTitlesIX"><a name="190280">A</a></div>
<div class="Level1IX"><a name="190284">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#124919" 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="II_D_project.html#124458" 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="IV_B_LRest.html#428563" title="IV_B_LRest.html">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#102806" title="HISTORY OF ACTUARIAL STATUS ESTIMATES">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116519" title="LONG-RANGE SENSITIVITY ANALYSIS">169</a></span></div>
<div class="Level1IX"><a name="190290">Actuarial balance ratio</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#427089" title="IV_B_LRest.html">67</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#329015" title="IV_B_LRest.html">68</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#419541" title="IV_B_LRest.html">69</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#220100" title="IV_B_LRest.html">70</a></span></div>
<div class="Level1IX"><a name="190295">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#452473" title="IV_B_LRest.html">70</a></span></div>
<div class="Level1IX"><a name="190297">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">4</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#124458" 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_E_conclu.html#91582" 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#332573" title="IV_B_LRest.html">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">194</a></span></div>
<div class="Level1IX"><a name="190303">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="IV_B_LRest.html">46</a></span></div>
<div class="Level1IX"><a name="190305">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">35</a></span></div>
<div class="Level1IX"><a name="190307">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">107</a></span></div>
<div class="Level1IX"><a name="190309">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 2011">6</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#174740" 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_B_LRest.html#178405" title="IV_B_LRest.html">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">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#220146" 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#290120" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">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">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#207371" title="Estimates in Dollars">203</a></span></div>
<div class="Level1IX"><a name="190318">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="IV_B_LRest.html">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#222378" title="APPENDICES">149</a></span></div>
<div class="Level1IX"><a name="190321">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 2011 REPORT">34</a></span></div>
<div class="Level1IX"><a name="190323">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">19</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#409541" title="IV_B_LRest.html">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#427493" title="IV_B_LRest.html">71</a></span></div>
<div class="Level1IX"><a name="190327">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 2011">6</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">9</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">26</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">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#220275" 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#289725" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">163</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">176</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#166081" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">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#92524" title="Estimates in Dollars">201</a></span></div>
<div class="Level1IX"><a name="190338">Assumptions</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">9</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">76</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">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#92481" title="HISTORY OF ACTUARIAL STATUS ESTIMATES">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116541" 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#160453" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">190</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">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#204023" title="Estimates in Dollars">200</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#121083" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">210</a></span></div>
<div class="Level1IX"><a name="190349">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">39</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#242357" 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_C_prog.html#274913" title="V_C_prog.html">107</a></span></div>
<div class="Level1IX"><a name="190353">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">117</a></span></div>
<div class="Level1IX"><a name="190355">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">140</a></span></div>
<div class="Level1IX"><a name="190357">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="190359">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">110</a></span></div>
<div class="Level1IX"><a name="190361">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">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#203080" title="Estimates in Dollars">200</a></span></div>
<div class="Level1IX"><a name="190364">Award</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#283135" title="V_C_prog.html">118</a></span></div>
<div class="GroupTitlesIX"><a name="190366">B</a></div>
<div class="Level1IX"><a name="190368">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#92236" 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#91353" title="CONCLUSION">21</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#343015" title="ACTUARIAL ESTIMATES">41</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#431525" title="IV_B_LRest.html">47</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="IV_B_LRest.html">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">125</a></span></div>
<div class="Level1IX"><a name="190376">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">110</a></span></div>
<div class="Level1IX"><a name="190378">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#281590" title="V_C_prog.html">124</a></span></div>
<div class="Level1IX"><a name="190380">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">11</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">39</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="IV_B_LRest.html">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">76</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">108</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 STATUS ESTIMATES">159</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">170</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">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#207371" title="Estimates in Dollars">203</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">210</a></span></div>
<div class="Level1IX"><a name="190391">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="190393">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 2011">6</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">36</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="IV_B_LRest.html">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">140</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#220146" 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#289904" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">163</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">175</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">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#207371" title="Estimates in Dollars">203</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">212</a></span></div>
<div class="Level1IX"><a name="190404">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">8</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">41</a></span></div>
<div class="Level1IX"><a name="190407">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">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#91353" title="CONCLUSION">21</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#398462" title="ACTUARIAL ESTIMATES">35</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">76</a></span></div>
<div class="Level1IX"><a name="190412">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#398462" title="ACTUARIAL ESTIMATES">35</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#218740" title="APPENDICES">145</a></span></div>
<div class="GroupTitlesIX"><a name="190416">C</a></div>
<div class="Level1IX"><a name="190418">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#431492" title="IV_B_LRest.html">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="IV_B_LRest.html">67</a></span></div>
<div class="Level1IX"><a name="190421">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">205</a></span></div>
<div class="Level1IX"><a name="190423">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#242357" 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="VI_D_LRsens.html#93311" title="LONG-RANGE SENSITIVITY ANALYSIS">174</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#204023" title="Estimates in Dollars">200</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">215</a></span></div>
<div class="Level1IX"><a name="190428">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#397504" 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#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#989878" title="V_C_prog.html">108</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">215</a></span></div>
<div class="Level1IX"><a name="190433">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 2011">6</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#219172" title="APPENDICES">145</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#289752" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">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#146906" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</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">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#207371" title="Estimates in Dollars">203</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">214</a></span></div>
<div class="Level1IX"><a name="190441">Cost</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_A_highlights.html#95065" title="OVERVIEW">3</a></span></div>
<div class="Level1IX"><a name="190443">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#121512" 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_B_LRest.html#411881" title="IV_B_LRest.html">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#161839" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</a></span></div>
<div class="Level1IX"><a name="190448">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">107</a></span></div>
<div class="Level1IX"><a name="190450">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 2011">6</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">107</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">199</a></span></div>
<div class="Level1IX"><a name="190454">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">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#397504" 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#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">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#219172" title="APPENDICES">145</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">173</a></span></div>
<div class="Level1IX"><a name="190461">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#414344" title="IV_B_LRest.html">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">115</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#114750" title="LONG-RANGE SENSITIVITY ANALYSIS">171</a></span></div>
<div class="Level1IX"><a name="190465">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#1048548" title="GLOSSARY">217</a></span></div>
<div class="Level1IX"><a name="190467">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#229268" title="Estimates in Dollars">200</a></span></div>
<div class="Level1IX"><a name="190469">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#343015" title="ACTUARIAL ESTIMATES">41</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">129</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#994317" 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#266223" title="V_C_prog.html">131</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">216</a></span></div>
<div class="GroupTitlesIX"><a name="190475">D</a></div>
<div class="Level1IX"><a name="190477">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="IV_B_LRest.html">47</a></span></div>
<div class="Level1IX"><a name="190479">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#989065" title="V_C_prog.html">114</a></span></div>
<div class="Level1IX"><a name="190481">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">8</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">19</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#398462" title="ACTUARIAL ESTIMATES">35</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">77</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">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#92481" title="HISTORY OF ACTUARIAL STATUS ESTIMATES">156</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">201</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">214</a></span></div>
<div class="Level1IX"><a name="190491">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 AND UNCERTAINTY">179</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_E_stoch.html#111855" title="STOCHASTIC PROJECTIONS AND UNCERTAINTY">188</a></span></div>
<div class="Level1IX"><a name="190494">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#281590" title="V_C_prog.html">124</a></span></div>
<div class="Level1IX"><a name="190496">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#218740" title="APPENDICES">145</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#114750" title="LONG-RANGE SENSITIVITY ANALYSIS">172</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">210</a></span></div>
<div class="Level1IX"><a name="190500">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">129</a></span></div>
<div class="Level1IX"><a name="190502">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">76</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">125</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">127</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#114750" title="LONG-RANGE SENSITIVITY ANALYSIS">172</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">177</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">214</a></span></div>
<div class="Level1IX"><a name="190509">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#1048153" title="GLOSSARY">216</a></span></div>
<div class="Level1IX"><a name="190511">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">131</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">133</a></span></div>
<div class="Level1IX"><a name="190514">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">177</a></span></div>
<div class="Level1IX"><a name="190516">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#989175" 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_H_glossary.html#1045168" title="GLOSSARY">218</a></span></div>
<div class="Level1IX"><a name="190519">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">23</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#174207" 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#176547" 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="III_A_cyoper.html#169925" 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#177896" 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#373267" title="ACTUARIAL ESTIMATES">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#290028" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">163</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 2021">164</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 2021">165</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#121099" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">211</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#119960" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">213</a></span></div>
<div class="GroupTitlesIX"><a name="190531">E</a></div>
<div class="Level1IX"><a name="190533">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 2011">6</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#397504" 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#178405" title="IV_B_LRest.html">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">108</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#219172" title="APPENDICES">145</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 STATUS ESTIMATES">157</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#161839" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</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">199</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#203080" title="Estimates in Dollars">200</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">214</a></span></div>
<div class="Level1IX"><a name="190546">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">108</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">215</a></span></div>
<div class="Level1IX"><a name="190550">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">8</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">19</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#398462" title="ACTUARIAL ESTIMATES">35</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="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">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#92481" title="HISTORY OF ACTUARIAL STATUS ESTIMATES">156</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">201</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">214</a></span></div>
<div class="Level1IX"><a name="190561">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="IV_B_LRest.html">47</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">200</a></span></div>
<div class="Level1IX"><a name="190564">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 2011">6</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">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="III_A_cyoper.html#174433" 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#147356" title="FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR">33</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#373267" title="ACTUARIAL ESTIMATES">35</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">39</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">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#220146" title="APPENDICES">147</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">218</a></span></div>
<div class="GroupTitlesIX"><a name="190574">F</a></div>
<div class="Level1IX"><a name="190576">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">189</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">224</a></span></div>
<div class="Level1IX"><a name="190579">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">77</a></span></div>
<div class="Level1IX"><a name="190581">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 2011">6</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">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#220225" title="APPENDICES">147</a></span></div>
<div class="Level1IX"><a name="190585">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">81</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#222378" title="APPENDICES">149</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 2021">162</a></span></div>
<div class="Level1IX"><a name="190589">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">219</a></span></div>
<div class="GroupTitlesIX"><a name="190591">G</a></div>
<div class="Level1IX"><a name="190593">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#388367" title="ACTUARIAL ESTIMATES">37</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">39</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#392062" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#382390" title="ACTUARIAL ESTIMATES">43</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#222369" title="APPENDICES">149</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">151</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#215974" title="APPENDICES">153</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#293132" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">166</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#300130" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">167</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#287529" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">168</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">214</a></span></div>
<div class="Level1IX"><a name="190605">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">219</a></span></div>
<div class="Level1IX"><a name="190607">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="II_D_project.html#124919" 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_B_LRest.html#414034" title="IV_B_LRest.html">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">76</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#242372" 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#242280" 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">195</a></span></div>
<div class="Level1IX"><a name="190615">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#242278" title="ECONOMIC ASSUMPTIONS AND METHODS">102</a></span></div>
<div class="GroupTitlesIX"><a name="190617">H</a></div>
<div class="Level1IX"><a name="190619">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">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#120587" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">16</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#398462" title="ACTUARIAL ESTIMATES">35</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">36</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#430192" title="IV_B_LRest.html">47</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">76</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">128</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116541" 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_E_stoch.html#114467" title="STOCHASTIC PROJECTIONS AND UNCERTAINTY">187</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#160453" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">190</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">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#204023" title="Estimates in Dollars">200</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">215</a></span></div>
<div class="Level1IX"><a name="190634">Hospital Insurance program</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#284982" title="V_C_prog.html">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#166081" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</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">222</a></span></div>
<div class="Level1IX"><a name="190638">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#176581" title="Estimates as a Percentage of Gross Domestic Product">195</a></span></div>
<div class="GroupTitlesIX"><a name="190640">I</a></div>
<div class="Level1IX"><a name="190642">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">8</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">76</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">77</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">80</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#241529" title="ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES">84</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">172</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 AND UNCERTAINTY">179</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">214</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">220</a></span></div>
<div class="Level1IX"><a name="190652">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">80</a></span></div>
<div class="Level1IX"><a name="190654">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#121512" 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_B_LRest.html#411881" title="IV_B_LRest.html">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#161839" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</a></span></div>
<div class="Level1IX"><a name="190659">Infinite horizon</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#124919" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">10</a></span></div>
<div class="Level1IX"><a name="190661">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">8</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">76</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">93</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#229268" title="Estimates in Dollars">200</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">214</a></span></div>
<div class="Level1IX"><a name="190667">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">93</a></span></div>
<div class="Level1IX"><a name="190669">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">8</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">116</a></span></div>
<div class="Level1IX"><a name="190672">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">112</a></span></div>
<div class="Level1IX"><a name="190674">Interest</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#397504" 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#209903" title="ECONOMIC ASSUMPTIONS AND METHODS">103</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#219939" title="APPENDICES">146</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 STATUS ESTIMATES">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#289953" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">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#160453" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">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">214</a></span></div>
<div class="Level1IX"><a name="190682">Interest 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">76</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 STATUS ESTIMATES">156</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">176</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">214</a></span></div>
<div class="Level1IX"><a name="190687">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">103</a></span></div>
<div class="Level1IX"><a name="190689">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">8</a></span></div>
<div class="Level1IX"><a name="190691">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#222378" title="APPENDICES">149</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">221</a></span></div>
<div class="Level1IX"><a name="190694">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">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#398462" title="ACTUARIAL ESTIMATES">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#397778" title="ACTUARIAL ESTIMATES">39</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#430192" title="IV_B_LRest.html">47</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">76</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">128</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116541" 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#105570" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">191</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">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#204023" title="Estimates in Dollars">200</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#208223" title="Estimates in Dollars">204</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">205</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#209419" title="Estimates in Dollars">206</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#121083" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">210</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">214</a></span></div>
<div class="GroupTitlesIX"><a name="190710">L</a></div>
<div class="Level1IX"><a name="190714">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">100</a></span></div>
<div class="Level1IX"><a name="190716">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">81</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_A_demo.html#241552" 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_H_glossary.html#1045270" title="GLOSSARY">221</a></span></div>
<div class="Level1IX"><a name="190720">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#92236" 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#91353" title="CONCLUSION">21</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">76</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">100</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">221</a></span></div>
<div class="Level1IX"><a name="190727">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">88</a></span></div>
<div class="Level1IX"><a name="190729">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">10</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="IV_B_LRest.html">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">77</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#283142" 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 STATUS ESTIMATES">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#166081" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#176581" title="Estimates as a Percentage of Gross Domestic Product">195</a></span></div>
<div class="Level1IX"><a name="190737">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">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#120587" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">16</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#398462" 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#430192" title="IV_B_LRest.html">47</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">76</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">128</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116541" 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_E_stoch.html#114467" title="STOCHASTIC PROJECTIONS AND UNCERTAINTY">187</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#160453" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">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#204023" title="Estimates in Dollars">200</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">214</a></span></div>
<div class="Level1IX"><a name="190750">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">140</a></span></div>
<div class="GroupTitlesIX"><a name="190752">M</a></div>
<div class="Level1IX"><a name="190754">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">79</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">222</a></span></div>
<div class="Level1IX"><a name="190757">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#388367" title="ACTUARIAL ESTIMATES">37</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#392062" title="ACTUARIAL ESTIMATES">40</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#382390" title="ACTUARIAL ESTIMATES">43</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="IV_B_LRest.html">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#242308" 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#146824" title="V_C_prog.html">144</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#219172" 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#222369" title="APPENDICES">149</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">151</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_A_cyoper_hist.html#215974" title="APPENDICES">153</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#293132" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">166</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#300130" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">167</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#287529" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">168</a></span></div>
<div class="GroupTitlesIX"><a name="190771">N</a></div>
<div class="Level1IX"><a name="190773">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">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#203080" title="Estimates in Dollars">200</a></span></div>
<div class="Level1IX"><a name="190776">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">108</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#281591" 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#287729" title="V_C_prog.html">140</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">217</a></span></div>
<div class="GroupTitlesIX"><a name="190781">O</a></div>
<div class="Level1IX"><a name="190783">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="190785">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#218740" title="APPENDICES">145</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1048153" title="GLOSSARY">216</a></span></div>
<div class="Level1IX"><a name="190788">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">112</a></span></div>
<div class="Level1IX"><a name="190790">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#240458" 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_D_LRsens.html#100057" title="LONG-RANGE SENSITIVITY ANALYSIS">172</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">223</a></span></div>
<div class="GroupTitlesIX"><a name="190794">P</a></div>
<div class="Level1IX"><a name="190796">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#220039" title="APPENDICES">146</a></span></div>
<div class="Level1IX"><a name="190798">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">223</a></span></div>
<div class="Level1IX"><a name="190800">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 STATUS ESTIMATES">156</a></span></div>
<div class="Level1IX"><a name="190802">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">22</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="IV_B_LRest.html">61</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">107</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#989891" 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_B_LRact_bal.html#103220" title="HISTORY OF ACTUARIAL STATUS ESTIMATES">159</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116519" 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#166081" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">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#207371" title="Estimates in Dollars">203</a></span></div>
<div class="Level1IX"><a name="190812">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="190814">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#397504" 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#267346" title="IV_B_LRest.html">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">115</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">172</a></span></div>
<div class="Level1IX"><a name="190820">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 STATUS ESTIMATES">156</a></span></div>
<div class="Level1IX"><a name="190822">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">110</a></span></div>
<div class="Level1IX"><a name="190824">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#242370" title="ECONOMIC ASSUMPTIONS AND METHODS">93</a></span></div>
<div class="GroupTitlesIX"><a name="190826">Q</a></div>
<div class="Level1IX"><a name="190828">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#279931" title="V_C_prog.html">116</a></span></div>
<div class="GroupTitlesIX"><a name="190830">R</a></div>
<div class="Level1IX"><a name="190832">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#178405" title="IV_B_LRest.html">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#416349" title="IV_B_LRest.html">60</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">112</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">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#220225" 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#290107" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">163</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 2021">164</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 2021">165</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#161839" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</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">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#207371" title="Estimates in Dollars">203</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">216</a></span></div>
<div class="Level1IX"><a name="190845">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">225</a></span></div>
<div class="Level1IX"><a name="190847">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">173</a></span></div>
<div class="Level1IX"><a name="190850">Recession</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#121512" 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="III_A_cyoper.html#181659" 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_A_SRest.html#397504" title="ACTUARIAL ESTIMATES">38</a></span></div>
<div class="Level1IX"><a name="190854">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#283135" 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#114750" 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_G_OASIforDI.html#121083" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">210</a></span></div>
<div class="Level1IX"><a name="190858">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">41</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">108</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#287729" title="V_C_prog.html">140</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">217</a></span></div>
<div class="Level1IX"><a name="190863">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">108</a></span></div>
<div class="Level1IX"><a name="190866">Retirement eligibility age</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#114750" title="LONG-RANGE SENSITIVITY ANALYSIS">171</a></span></div>
<div class="GroupTitlesIX"><a name="190868">S</a></div>
<div class="Level1IX"><a name="190870">Scenario-based model</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1049035" title="GLOSSARY">225</a></span></div>
<div class="Level1IX"><a name="190872">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="IV_B_LRest.html">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#242357" 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_F1_OASDHI_payroll.html#162239" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">190</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">224</a></span></div>
<div class="Level1IX"><a name="190877">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">224</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">225</a></span></div>
<div class="Level1IX"><a name="190880">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">169</a></span></div>
<div class="Level1IX"><a name="190882">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">9</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">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#283135" title="V_C_prog.html">118</a></span></div>
<div class="Level1IX"><a name="190886">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">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#171963" title="APPENDICES">146</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F3_OASDHI_dollars.html#203080" title="Estimates in Dollars">200</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">210</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1048153" title="GLOSSARY">216</a></span></div>
<div class="Level1IX"><a name="190892">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 2011 REPORT">34</a></span></div>
<div class="Level1IX"><a name="190894">Solvency</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1043273" title="GLOSSARY">226</a></span></div>
<div class="Level1IX"><a name="190896">Special public-debt obligation</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#223198" title="ECONOMIC ASSUMPTIONS AND METHODS">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#219939" title="APPENDICES">146</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">176</a></span></div>
<div class="Level1IX"><a name="190900">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 AND UNCERTAINTY">179</a></span></div>
<div class="Level1IX"><a name="190902">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#281591" 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="VI_H_glossary.html#1007092" title="GLOSSARY">217</a></span></div>
<div class="Level1IX"><a name="190905">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">196</a></span></div>
<div class="Level1IX"><a name="190907">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#457233" title="IV_B_LRest.html">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 STATUS ESTIMATES">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116519" 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#105250" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">193</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">214</a></span></div>
<div class="Level1IX"><a name="190913">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#289981" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">163</a></span></div>
<div class="Level1IX"><a name="190915">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#166081" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</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">222</a></span></div>
<div class="Level1IX"><a name="190918">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#98974" title="TRUST FUND FINANCIAL OPERATIONS IN 2011">7</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">215</a></span></div>
<div class="Level1IX"><a name="190923">Sustainable solvency</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#366866" title="IV_B_LRest.html">56</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#448790" title="IV_B_LRest.html">57</a></span></div>
<div class="GroupTitlesIX"><a name="190926">T</a></div>
<div class="Level1IX"><a name="190928">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#397504" 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#267346" title="IV_B_LRest.html">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">108</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 STATUS ESTIMATES">157</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">215</a></span></div>
<div class="Level1IX"><a name="190934">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">4</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_E_conclu.html#91582" 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#178405" title="IV_B_LRest.html">47</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_B_econ.html#242357" 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#87218" title="V_C_prog.html">116</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 STATUS ESTIMATES">156</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">170</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F1_OASDHI_payroll.html#161839" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">189</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_F2_OASDHI_GDP.html#176581" title="Estimates as a Percentage of Gross Domestic Product">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#116204" title="Estimates in Dollars">200</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">216</a></span></div>
<div class="Level1IX"><a name="190946">Taxable self-employment income</a><span style="font-size: 12.0pt">&nbsp;</span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1007254" title="GLOSSARY">227</a></span></div>
<div class="Level1IX"><a name="190948">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#285583" title="V_C_prog.html">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">190</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">227</a></span></div>
<div class="Level1IX"><a name="190952">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 2011">6</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#284807" title="V_C_prog.html">139</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">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#207371" title="Estimates in Dollars">203</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">220</a></span></div>
<div class="Level1IX"><a name="190958">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 2011">6</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">107</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">190</a></span></div>
<div class="Level1IX"><a name="190962">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">41</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">76</a></span></div>
<div class="Level1IX"><a name="190965">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">8</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_A_SRest.html#346201" title="ACTUARIAL ESTIMATES">41</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="V_C_prog.html#283135" 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">177</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">214</a></span></div>
<div class="Level1IX"><a name="190971">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#344733" title="ACTUARIAL ESTIMATES">36</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#418638" title="IV_B_LRest.html">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">225</a></span></div>
<div class="Level1IX"><a name="190975">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">77</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">169</a></span></div>
<div class="Level1IX"><a name="190978">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 2011">6</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">23</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">36</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">145</a></span></div>
<div class="Level1IX"><a name="190983">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">9</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">35</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#428563" title="IV_B_LRest.html">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="IV_B_LRest.html">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#222409" title="APPENDICES">149</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_C_SRfyproj.html#293160" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">166</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">229</a></span></div>
<div class="GroupTitlesIX"><a name="190991">U</a></div>
<div class="Level1IX"><a name="190993">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">100</a></span></div>
<div class="Level1IX"><a name="190995">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">4</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="II_D_project.html#124919" 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="II_D_project.html#122741" 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#125822" 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="II_D_project.html#116927" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">19</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#428563" title="IV_B_LRest.html">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="IV_B_LRest.html">63</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#417122" title="IV_B_LRest.html">64</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#253799" title="IV_B_LRest.html">66</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#457442" title="IV_B_LRest.html">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 AND UNCERTAINTY">187</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">223</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1049365" title="GLOSSARY">229</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_H_glossary.html#1049377" title="GLOSSARY">230</a></span></div>
<div class="Level1IX"><a name="191010">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#290070" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">163</a></span></div>
<div class="GroupTitlesIX"><a name="191012">V</a></div>
<div class="Level1IX"><a name="191014">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#124458" 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="IV_B_LRest.html#431488" title="IV_B_LRest.html">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 STATUS ESTIMATES">156</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_D_LRsens.html#116519" 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#105250" title="ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED">193</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">214</a></span></div>
<div class="Level1IX"><a name="191021">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#178405" title="IV_B_LRest.html">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#220225" 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#278720" title="FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021">164</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">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#207371" title="Estimates in Dollars">203</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="VI_G_OASIforDI.html#120954" title="ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES">212</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">216</a></span></div>
<div class="GroupTitlesIX"><a name="191029">Y</a></div>
<div class="Level1IX"><a name="191033">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#126456" 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="II_D_project.html#125512" title="PROJECTIONS OF FUTURE FINANCIAL STATUS">13</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">22</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#428597" title="IV_B_LRest.html">46</a></span><span style="font-size: 12.0pt">, </span><span class="Link" style="font-size: 10.5pt"><a href="IV_B_LRest.html#456690" title="IV_B_LRest.html">58</a></span></div>
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