New issue of Social Security Bulletin Released

Social Security Bulletin, Vol. 78, No. 3

(released August 2018)

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Retirement Savings Inequality: Different Effects of Earnings Shocks, Portfolio Selections, and Employer Contributions by Worker Earnings Level

by Joelle Saad-Lessler, Teresa Ghilarducci, and Gayle L. Reznik

Changes in accumulated retirement savings, particularly in employer-sponsored defined contribution (DC) plan balances, differ by worker earnings levels. Earnings shocks, portfolio diversification, and employer contributions to workers’ DC plans affect retirement savings for lower earners more than for higher earners. The authors match Survey of Income and Program Participation data to Social Security Administration earnings records and find factors underlying the different retirement savings outcomes by earnings level beyond mere differences in earnings.

Three-Year Effects of the Youth Transition Demonstration Projects

by Thomas M. Fraker, Joyanne Cobb, Jeffrey Hemmeter, Richard G. Luecking, and Arif Mamun

This article summarizes findings from randomized controlled trials of six Youth Transition Demonstration projects that were funded by the Social Security Administration. The projects provided specialized employment-focused services and enhanced disability program work incentives for youths aged 14–25 with disabilities. Three of the projects had positive and statistically significant effects on employment rates in the third year after youths enrolled in project evaluations.

Possible State Intervention Options to Serve Transition-Age Youths: Lessons from the West Virginia Youth Works Demonstration Project

by Joyanne Cobb, David C. Wittenburg, and Cara Stepanczuk

The Social Security Administration funded the West Virginia Youth Works intervention as part of the Youth Transition Demonstration (YTD) to improve the employment and independent-living outcomes of youths with disabilities. This project was one of six that constituted the full YTD evaluation. This article examines Youth Works implementation and outcomes to provide a potential case study for other states interested in expanding services to youths with disabilities.

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SSA Job Opening: Deputy Chief Actuary, Short-Range

The Social Security Administration (SSA) is looking for an executive to serve in a leadership role within its Office of the Chief Actuary (OCACT) as the Deputy Chief Actuary for Short-Range Actuarial Estimates.  The complete vacancy announcement can be found on USAJOBS at SSA-EX-504.  The Deputy Chief Actuary will report directly to the Chief Actuary in Woodlawn, MD. The vacancy is open now through September 4, 2018.

The OCACT has agency-wide responsibility for:

• Actuarial estimates for SSA programs and projected changes;
• Evaluating operations and estimating future operations of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund;
• Conducting studies of program financing; and
• Performing actuarial and demographic research on social insurance and related program issues.

The Deputy Chief Actuary has responsibility for:

• Planning, directing, and coordinating the development of short-range cost estimates;
• Developing special cost analyses involving technical actuarial issues;
• Projecting short range operations of the Trust Funds;
• Projecting expenditures under the Supplemental Security Income program;
• Providing a variety of data services including data collection and statistical support; and
• Advising the Chief Actuary on all matters of concern and serves as an actuarial consultant to the Commissioner of Social Security.

Candidates for the position must have professional experience at a senior level (equivalent to the GS-15 in either the General Schedule or a comparable pay plan) and provide evidence of meeting the educational requirement for the 1510 Actuarial Science Series.  Applicants must demonstrate via their resume and application their level of experience for each of the executive core qualifications that are included in the job posting, as well as address each of the mandatory technical qualifications to substantiate their technical knowledge and abilities.

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Upcoming event: Social Security Advisory Board. Moving Forward - Implementing Changes in the Representative Payee Program

Social Security Advisory Board

Moving Forward - Implementing Changes in the Representative Payee Program

On Friday, September 7, 2018, the Social Security Advisory Board (SSAB) will host a day-long forum on the Social Security Administration’s (SSA) representative payee program. This forum continues SSAB’s longstanding effort to support and improve a vital government program serving approximately eight million people who need assistance in managing benefits provided by the SSA. This forum brings policymakers, practitioners and researchers together to explore how SSA can study and improve the representative payee selection process with an evidence-based approach. Recent legislation, “The Strengthening Protections for Social Security Beneficiaries Act of 2018” (H.R. 4547) makes this event especially timely. During the forum, you will hear about: how the new legislation sets a roadmap for program reform from congressional staff. how the current order of selection might be improved. particular challenges facing organizational payees and what might be done to meet them. how SSA can improve the data flow to support research that can improve the program. Location: The U.S. Capitol Visitor Center (HVC–201AB) Washington, DC, 20515 Keep checking back on our website for updates.

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