Social Security's Office of the Chief Actuary (OCACT if you're inside the agency; OACT if you're outside – don't ask me why…) has two new publications that may be worth a look. First is a number of illustrative reforms to Social Security, with their effects measured relative to the 2008 Social Security Trustees Report. As the 2008 Report showed a significantly lower deficit based on some big changes in immigration methodology, it's great that the actuaries re-scored these policy provisions. Click here to take a look. Second is an updated actuarial note on unfunded the obligation and transition cost for the OASDI program. This has played into some of our discussions of the so-called $17 trillion 'back transfer' to early participants in the program and is an interesting document for adding new information not contained in the Trustees Report. Also worth a look, here.
Thursday, August 7, 2008
New from SSA’s Actuaries
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Thanks for the link. Lots to digest. Plus a very useful new set of terms. I particularly like the clarity derived by substituting 'obligation' implying a moral committment for 'liability' which implies a legal element that is not in fact present. Anyway lots of material for the SS series at AB.
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