Description: The prospects of longer retirement durations driven by the continued improvement in mortality, changes in social insurance “normal” retirement ages, and/or socio-economic factors, have made several decisions about retirement more important.

Description: Mortality is a fundamental element in the financial projections of the finances of social security programs around the world. Prominent actuaries from the U.S. Social Security Administration, Canada's Office of Superintendent of Financial Institutions and the U.K. Government Actuary's Department will discuss some of the key factors and issues associated with these projections. Improving mortality has and will have a significant effect on the affordability and importance of income through retirement to many population segments in these countries.

Description: The widening gap in life span between high- and low-income Americans may be eroding the progressivity of Social Security retirement benefits. Differential longevity trends have had the effect of raising lifetime benefits for high earners but not for low earners. Social Security’s long-term financial problems result in part from an increase in average life expectancy driven by wealthier people living longer, and, thereby, collecting more benefits. Policymakers should not use funding shortfalls attributable to these trends as an excuse to cut monthly benefits alike for those who have gained (high earners) and for those who haven’t (low earners).

Description: The Social Security Administration’s Office of the Chief Actuary performs estimates for a wide variety of proposals to make changes to Social Security. Many proposals address the long-range solvency deficit for Social Security’s Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds. Other proposals make revisions to specific aspects of Social Security law without significant effects on long-term solvency. This article discusses and provide examples of both types of proposals.

Description: As the topic of affordable long-term care (LTC) insurance comes into focus in political conversations, we often find ourselves thinking, “What is going to happen to the private LTC insurance industry going forward?” The need for LTC in the United States is not going away, especially as the population continues to age. With this in mind, this article explores three possible future paths for LTC insurance funding and the associated implications for the private LTC industry.

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

Description: COVID-19 is causing changes to nursing homes that will last beyond the pandemic. Nursing homes serve Medicare and Medicaid beneficiaries; so, in the public interest, we should consider how changes to nursing homes might impact these populations.

Description: Feature article discussing how Social Security benefits are computed for some government employees.

Description: Chairperson's corner for January 2020 In the Public Interest.

Description: Column from the chairperson of the Social Insurance & Public Finance Section describing future section plans.