Glossary

General glossary of terms

Child's Benefits
Social Security benefits a child of the worker receives that are based on the worker's covered earnings record.
Mon, 28 Mar, 2022 at 4:42 PM
Covered Earnings
Earnings from jobs that deduct Social Security taxes from your paycheck. These appear on your Social Security statement or Earnings Records in the column ti...
Mon, 28 Mar, 2022 at 4:34 PM
Disability Benefits
Social Security disability benefits you receive that are based on your own covered earnings record. These are often referred to as Social Security Disabilit...
Mon, 28 Mar, 2022 at 4:41 PM
Earnings Deduction
Deductions applied due to the earnings test. Deductions are applied to all benefits claimed on the record of the person subject to the earnings test.
Tue, 29 Mar, 2022 at 7:59 AM
Earnings Test
A maximum amount that can be earned before full retirement age (FRA). Earnings above the exempt amount result in earnings deductions.
Tue, 29 Mar, 2022 at 7:58 AM
Lifetime Present Value
The weighted value of a stream of money over a lifetime. When evaluating the value of money that will be received (or spent) over the course of several year...
Mon, 28 Mar, 2022 at 4:32 PM
Nominal Dollars
When a future value is provided in Nominal Dollars it means the amount is the actual face value of the money in the future year.
Mon, 28 Mar, 2022 at 4:30 PM
Non-Covered Earnings
Earnings from jobs that do NOT deduct Social Security taxes from your paycheck.
Mon, 28 Mar, 2022 at 4:33 PM
Non-Covered Pensions
Pensions from work where Social Security taxes were NOT deducted from your paycheck. Only certain government and foreign pensions are non-covered pensions.
Mon, 28 Mar, 2022 at 4:33 PM
Retirement Benefits
Social Security benefits you receive that are based on your own covered earnings record.
Mon, 28 Mar, 2022 at 4:37 PM