Description: The author discusses a perceived loophole in the Social Security system whereby an employer could reduce employees’ wages by all or a portion of their Social Security payroll tax and then pay this tax for the employees. This procedure, which had been little used through the years except by householders employing domestic workers, was dubbed “FICA-II,” and the article notes that 1980 legislation prohibited the practice other than for domestic workers and a few other limited exemptions.

Description: This paper discusses the cause of the long-term financial problem of the Old-Age, Survivors, and Disability Insurance OASDI program, outlines an alternative actuarial financing approach for OASDI as a solution to this problem, and details the advantages of this approach over the current financing method. Followed by several discussion papers submitted

Description: This article introduces the special rules that apply to employees of state and local governments that choose to be covered by the U.S. Social Security program.

Description: This paper examines the significant 1956 amendments to the Social Security Act and the estimated actuarial cost, and also discusses the historical financial experience and legislative revisions under Social Security and Public Assistance. A discussion of the paper is included.

Description: This section contains multiple book reviews and notices concerning the actuarial profession. Reviews: 'Medical Risks: Patterns of Mortality and Survival' by Singer and Levinson, 'The Theory and Practice of Pension Funding' by Trowbridge and Farr, 'Two Stochastic Processes' by Beekman, 'Disability Income Insurance - Cost Differentials between Men and Women' by New York Insurance Department, 'Social Security and Private Pension Plans: Competitive or Complementary' by McGill, 'A New Look at Accounting for Pension Costs' by Hall and Landsittel, '1977 Annual Reports of the Board of Trustees of the Federal OASDI Trust Funds...,' 'Investigation of Sickness Statistics - Individual Policies, 1971 and 1973' by the Institute of Actuaries and the Faculty of Actuaries, 'The Graduation of Pensioners and of Annuitants Mortality Experience 1967-70' by the Institute of Actuaries and the Faculty of Actuaries, 'Pensions and Survival - the Coming Crisis of Money and Retirement' by Calvert, 'Group Benefits in a Changing Society' by Spencer, 'Experience of Disabled Work Benefits under OASDI 1965-74' by Bayo and Wilkin. Digests also included.

Description: History of different treatment of men and women under the rules of the U.S. Social Security program.