Description: Public Law 93-445 provided for a complete restructuring of the railroad retirement system. This paper discusses 2 of the issues/problems underlying the need for the restructuring. These were 1 concurrent social security benefits paid to railroad annuitants 2 the approach used to increase benefits to keep up with inflation. Also a discussion of the basic achievement of the new law, which was to create a two-tiered benefit structure. Followed by 2 discussion papers submitted

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: The work of the Society of Actuaries’ Committee on Post-Retirement Needs and Risks—including focus groups and Risks and Process of Retirement Surveys—offers important insights into when, how and why people retire.

Description: Article Book Review by Ray in The Actuary, January 1979, Volume 13, Number 1

Description: The standard for measuring retirement income adequacy has been the final earnings replacement rate (usually targeted at 70%). But - does it work?

Description: The article explores the lack of focus of Social Security reform proposals on the the next twenty years and the imminent drawing down of the Social Security Trust Fund sometime near the end of that period.

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: Social Security poses a substantial financing challenge for the future, largely due to demographic changes. This article explores the reasons behind this issue and possible changes that will be needed in the future.