SOCIAL SECURITY DISABILITY GLOSSARY
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Glossary of Social Security Disability Terms |
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AIME: This is a dollar amount is used to calculate your Social Security benefit if you have reached the age 62 or have become disabled after the year 1978.
AME: The dollar amount used in calculating your monthly Social Security benefit if you attained age 62 or became disabled (or died) before 1978.
Actuaries: Professionals who analyze the financial consequences of risk. Social Security actuaries make projections about population, immigration, life expectancy, economic growth, inflation and productivity growth.
Administrative costs: The Social Security Administration is known for having administrative costs of well under one percent of total assets. Administrative costs are the costs associated with running the program.
Annual Cost of Living Increase: Benefits increased based on the cost of living and inflation.
Appeal: You always have the right to appeal (try to change) the decision of the Social Security department when a decision is made that affects your benefits.
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