Description: The question is frequently raised: Do workers get their money's worth from the payroll taxes that they pay under the U.S. Social Security program? Analyses by nonactuaries are usually faulty because of incorrect methodology and/or incorrect assumptions. This paper presents an analysis of cash retirement benefits for various cases of workers at two earnings levels who attained age 65 and retired in the past and who will attain the normal retirement age and retire at several dates in the future. In summary, the vast majority of workers who retired in the past received, and are receiving, benefits of far greater value than the taxes that they paid. This situation will change in the future, especially if tax rates rise to a level sufficient to support the program over the long run. Many workers who retire in the future will not get their money's worth when the combined employer-employee taxes are considered. This result would be expected eventually for a program that is financed almost entirely by these payroll taxes. However, the vast majority of workers will get their money's worth if only the employee tax is considered. From Transactions of Society of Actuaries 1992, Vol. 44.

Description: In this session 114 PD of the Palm Desert Spring Meeting, Social Security and Medicare experts separate fact from fiction to give you insight into the sovency of the systems and proposals for change. From Record of Society of Actuaries, Vol. 23, No. 1.

Description: This session from the 1983 SOA Hollywood, Florida Meeting examines the Social Security Amendments of 1983 including benefits vs. taxes over a worker's lifetime, implications of Social Security changes for employee benefit plans and compensation arrangements. From Record of Society of Actuaries, Vol. 9, No. 4.

Description: This session discussion is about current issues in U.S. social security and Medicare programs. From Record of the Society of Actuaries Vol. 15, No. 3B.

Description: Letter from SOA President Bruce Schobel regarding ASAs and their right to vote.

Description: On October 21, the Bureau of Labor Statistics BLS released the Consumer Price Index KPI for September. With that figure, the Social Security Administration calculated the Social Security cost-of-living adjustment COLA for December 1988, which was 4.0%.

Description: If the United States is to have a successful Social Security and Medicare system long term, one that blends needs with financial capacity, it is necessary to protect the actuarial process from being overwhelmed by the political process. While some assistance is provided already under existing law, additional protection would enhance public confidence in the estimates made by government actuaries.

Description: This paper presents an analysis of the mortality experience recorded in the 16 official complete life tables that have been published by the Japanese government, covering about a century. In addition to progress in industrial production, Japan has made remarkable progress in the demographic area, especially decreasing mortality rates of its people.

Description: Presidential column about cooperation amongst the various actuarial organizations.

Description: Every October, the U.S. Social Security Administration (SSA) announces certain changes in program amounts that occur automatically—that is, without any new legislation being necessary. The most widely publicized of these changes is the annual cost-of-living adjustment (COLA) affecting monthly Social Security benefits. Other automatic changes are important to people of working age as well as to beneficiaries. On Oct. 13, 2021, the government announced the Social Security COLA effective for December 2021 and the other changes effective for 2022.