Key Concepts
AIME - Average Indexed Monthly Earnings - The basis used for calculating the primary insurance amount for Social Security benefits.
Currently insured - A status of limited eligibility that provides only Social Security death benefits.
FICA Tax - Federal Insurance Contributions Act - Contributions made through payroll taxes to fund Social Security benefits.
Fully Insured - A status of complete eligibility for the full range of Social Security benefits.
OASDI Benefits - Old Age, Survivors, Disability and Hospital Insurance - Retirement, death, disability income and hospital insurance benefits provided under the Social Security system.
PIA - Primary Insurance Amount - Amount equal to a covered worker's full Social Security retirement benefit at age 65 or disability benefit.
Taxable Wage Base - The maximum amount of earnings upon which FICA taxes must be paid.
Familiarize yourself with the Key Concepts in the Florida study manual, Unit 12.
