Long-range projection of average benefits under OASDI.
نویسنده
چکیده
In its long-range projections of expenditures under the Old-Age, Survivors, and Disability Insurance (OASDI) system, the Office of the Actuary considers benefit payments, administrative expenses, net transfers under the Railroad Retirement interchange, and vocational rehabilitation expenses for the next 75 years. Benefit payments are by far the largest element, accounting for over 97 percent of all OASDI outgo. In preparing the projections, benefit payments are split primarily by type of benefit, such as old-age and auxiliary benefits (retired worker, wife/husband, and child), survivors benefits (widow/widower, disabled widow/ widower, chiid, mother/father, and aged parent), and disabled-worker and auxiliary benefits (disabled worker, wife/husband, and child). For each type of benefit, the number of beneficiaries and the corresponding average benefit payable are projected for each fifth year for 75 years. (The short-range projections, covering the first 10 years of the period, are not discussed here.) This note describes how the “average benefit payable” is projected. It is important to distinguish between average newly awarded benefits and average benefits being paid. Benefits being paid in any given year are made up of benefits awarded in that year (the prospective beneficiary having applied and met the requirements for the benefit), benefits awarded in the previous year, in the year prior to that, and so on. To project the average benefit payable, the average benefit awarded in each prior year is first projected. From these figures, the average benefit payable is calculated using a procedure described later.
منابع مشابه
Summary of the 1986 Annual Report of the Board of Trustees of the Federal Old-age and Survivors Insurance and Disability Insurance Trust Funds
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ورودعنوان ژورنال:
- Social security bulletin
دوره 45 1 شماره
صفحات -
تاریخ انتشار 1982