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TeachMeFinance.com - explain Special Public-Debt Obligation Special Public-Debt Obligation The term 'Special Public-Debt Obligation ' as it applies to the area of Medicare in the United States can be defined as ' Securities of the U.S. Government issued exclusively to the OASI, DI, HI, and SMI trust funds and other federal trust funds. Section 1841(a) of the Social Security Act provides that the public-debt obligations issued for purchase by the SMI trust fund shall have maturities fixed with due regard for the needs of the funds. The usual practice in the past has been to spread the holdings of special issues, as of every June 30, so that the amounts maturing in each of the next 15 years are approximately equal. Special public-debt obligations are redeemable at par at any time'. Previous 5 Terms: Special Marine Warning Special Milk Program Special naphthas Special nuclear material Special populations Next 5 Terms: Special purpose rate schedule Special review Special Supplemental Nutrition Program for Women, Infants and Children (WIC) Special Tropical Disturbance Statement Specialist About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.