Description: A review of a book by a former Commissioner of Social Security, in which he shares his thoughts on what Social Security is, the new law, the financing, the benefits, the types of employment covered, the benefit amounts, the retirement test, and several subsidiary topics.

Description: This paper presents a summary of the legislative history of the several 1961 amendments, with emphasis on those affecting OASDI and the provisions of the health benefits proposal - particularly as to its financing. Discussions of this paper are included.

Description: This paper is from Transactions of Society of Actuaries 1955 Volume 7, Number 17. The author describes the 1954 amendments to Social Security, with a comparison to the 1950 and 1952 amendments, all of which primarily affected the Old-Age and Survivors Insurance [OASI] system, increasing benefits. Data on experience under the 1950 and 1952 amendments is provided. The author discusses the major changes enacted under the 1954 amendments, among them extension of coverage, increases in benefits and an increase in the maximum wages subject to contributions.

Description: This is a panel discussion focusing on Social Security. From Transactions of Society of Actuaries 1959, Vol. 11, No. 31.

Description: This article discusses Medicare cost, specifically the hospital utilization rate and the average daily cost of hospitalization and the effect of Medicare on the great increases in health care costs since 1965.

Description: The U.S. Bureau of the Census has rightfully earned a reputation for technical excellence. However, the author has run across an instance where this venerable, distinguished agency went sadly astray - namely, in connection with the number and proportion of employees of state and local governments who are covered by Social Security and Disability Insurance.

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: 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 document is a meeting session summary. The meeting occurred at the 1976 SOA Spring Meeting in Washington D.C. The session compared and contrasted educational and experience requirements for actuaries and economists, costs of long range social insurance programs, costs of short range programs, economic analysis of the effects of social insurance programs and cooperation between the two professions to analyze social insurance programs.

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.