TeachMeFinance.com - explain Quinquennial Military Service Determination And Adjustments
Quinquennial Military Service Determination And Adjustments The term 'Quinquennial Military Service Determination And Adjustments ' as it applies to the area of Medicare in the United States can be defined as ' service prior to 1957; annual reimbursements were made from the general fund of the Treasury to the HI trust fund for these costs. The Social Security Amendments of 1983 provided for (1) a lump-sum transfer in 1983 for (a) the costs arising from the pre-1957 wage credits, and (b) amounts equivalent to the HI taxes that would have been paid on the deemed wage credits for military service for 1966 through 1983, inclusive, if such credits had been counted as covered earnings; (2) quinquennial adjustments to the pre-1957 portion of the 1983 lump-sum transfer; (3) general fund transfers equivalent to HI taxes on military deemed wage '.
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