Description: The article first tries to determine a consensus view of what social security should accomplish and then tries to measure how well the current level of benefits succeeds in meeting these goals. Assessing benefit adequacy is an essential element in putting the overall program on a sound financing footing.

Description: This article is the second in a two part series that summarizes a longer paper that can be downloaded from the website of the Social Insurance and Public Finance Section. Both articles take the form of a point-counterpoint dialogue addressing important aspects of social insurance programs. The first part discussed their nature, desirability and advantages, as well as whether they can form a framework to achieve sustainable inter-generational equity. This article focuses on whether pre-funding of a social insurance program can occur and can contribute to the financial security of the participants. Fundamental differences of opinion exist regarding these programs, not only due to different personal and political values, but also as a result of the viewpoint taken (for example, assessment of the program in isolation, consideration of the sponsoring government's financial situation, or the overall national economy).

Description: Argues that the budget for the Social Security program should not be 'unified'with the rest of the federal budget in evaluating the federal deficit.

Description: This article consists of a point-counterpoint dialogue addressing important aspects of social insurance programs. It discusses the desirability and advantages of these programs that provide financial assistance to those who are retired, disabled, ill or unemployed.

Description: Description of Social Security COLA for December 2020 and wage-indexed program parameters for 2021.

Description: A comparison of Social Security benefits, for a hypothetical new entrant to the program, between the 1972 Social Security Act and the 1977 Social Security Act.

Description: Chairperson's Corner discussing actuarial principles and what we as actuaries value in our work.

Description: The article explores ways that legislative policy options that focus on both trust fund solvency and benefit adequacy may be implemented to bring about Social Security solvency and sustainability.

Description: Social Security poses a substantial financing challenge for the future, largely due to demographic changes. This article explores the reasons behind this issue and possible changes that will be needed in the future.

Description: An over view of recent revisions to Social Security, and their implications to the private sector of the insurance industry.