Description: This meeting session, which occurred at the April 1982 Society of Actuaries meeting in Orlando, presented a discussion of U.S. Social Security issues. Questions discussed included: 1. What is the financial status of the Social Security program? 2. What changes have been recently adopted and what changes have been proposed? 3. How would these changes affect the private pension system costs and plan design? 4. What is the proper role of the actuarial profession regarding the Social Security program? Included discussion of the paper, Constant Replacement Ratios in Retirement: A Theoretical Approach,' by Barnet N. Berin and Anthony B. Richter.

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.