Return to PSG Models documentation page

GEMINI input table AAAF_RI

Contains specification of year-specific annual actuarial adjustment factors applied to retired-worker benefits.

Parent table is: SAMPLE

There are no child tables.

Go to GEMINI input parameters overview

Identifies year-indexed factors, so many rows have the same id value.

Valid values: 1 to 999999999 (nine digits), Integer

GEMINI:   AAAF_RI . notes
Describes specification of table row in free-form note.

Valid values: any ASCII text, Memo (Note: do not copy and paste from a word processor because of the possibility of embedded non-ASCII characters.)

GEMINI:   AAAF_RI . cal_year
Specifies calendar year for which the factor specified on this row is in effect. Values of the factor are calculated by linear interpolation for years in between years for which factors are specified. Values of factors are calculated by simple extrapolation of last factor for years beyond the last year for which factor values are specified.

Valid values: 2004 to (RUN.year_zero+RUN.num_years), Integer

Source code: sample.h and sample.cpp

GEMINI:   AAAF_RI . factor
Specifies the annual actuarial adjustment factor (expressed in percentage terms) that is used to increase an individual's retired-worker benefit (based on his/her own earnings history) in each year beginning one year after initial benefit award and ending at age seventy. The annual increases are cumulative. The annual increases are not applied to individuals who are disabled-worker or disabled-widow beneficiaries or to individuals who were disabled-worker beneficiaries before they were transferred to the OAI program and relabeled retired-worker beneficiaries.

EXAMPLE: Consider the case of a non-disabled individual who first receives a retired-worker benefit at age 64 in 2012 in a run where the actuarial test period starts in 2006. If the value of factor is set at zero, then there is no actuarial adjustment of the benefit in subsequent years. Of course, the normal COLA adjustments raise this individual's nominal benefit each year, keeping the benefit constant in real terms under current-law COLA policy. However, if factor=0.7 for calendar year 2012 and after, then (over and above the COLA adjustment) the benefit will increase by 0.7 percent at age 65, 66, 67, 68, 69, and 70. The cumulative effect of these six annual actuarial adjustments would be about a 4.3 percent increase in the real benefit (that is, 1.007^6=1.042742).

Valid values: -4.0 to +6.0, Real