Description: A discussion of the role and responsibilities of actuaries beyond crunching numbers

Description: As the search continues for a solution to the U.S. Social Security system’s financing problems, the U.S. Congress is considering raising the normal retirement age for U.S. workers. The House Ways and Means Social Security Subcommittee heard testimony on Feb. 26, 1998 from Christopher Bone, chief actuary, Actuarial Sciences Associates, Somerset, N.J., Ron Gebhardtsbauer, senior pension fellow, American Academy of Actuaries, and Robert Myers, former chief actuary of the U.S. Social Security Administration and professor emeritus, Temple University. All discussed the impact of a higher normal retirement age. This article summarizes the testimony of these three actuaries.

Description: Recent testimony on Social Security was given to the U.S. Senate Special Committee on Aging by David Langer, who defended the current system and strongly opposed recent moves to privatize. This article summarizes Mr. Langer's testimony.

Description: Panel discussion focusing on managing health care costs.

Description: An introduction to the National Academy of Social Insurance and how actuaries can contribute.

Description: Discussion of China's retirement system and the Enterprise Annuity - a fully funded defined contribution program.

Description: Written from a regulatory perspective, the article covers the purpose of regulation and some regulatory expectations. The topics include the appointed actuary's involvement in corporate governance, reasonability of results when compared to prior results, data quality, familiarity with the company's annual statement and applicable statutes, and areas where appointed actuaries can add value though services provided to smaller life insurance companies.

Description: Living beyond ones life expectancy poses many challenges. Among them are financial issues. Though there are products and strategies available that retirees could use to mitigate this financial risk they are seldom used. Reasons range from high cost, lack of awareness of the available options, and general underestimation of longevity risk. This paper poses the question as to whether the federal government can provide a solution to this potential problem in a fair and cost efficient manner. Ideas are presented as well as a discussion of the pros and cons of such a program concept.

Description: On May 16th, the Social Security Boards of Trustees sent to the Congress the three annual reports OASDI, HI, and SMI. These reports present cost projections similar to those provided to the Congress last year at the time of enactment of the 1977 Amendments.

Description: Article Editorial by Vogel in The Actuary, December 1979, Volume 13, Number 10. Actuary aspires to be a highly valued professional in the general public.