Description: Social security systems around the world have suffered from inadequate funding, leading to current or potential deficits and ultimate insolvency. This article discusses that this problem is a direct actuarial consequence of the inadequate funding that created the problem in the first place. It is simply an open group valuation problem.

Description: Panelists discuss the current and developing old-age crisis from a world perspective and a U.S. perspective, and also look at it from a futurism perspective. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.