Two recent articles just up on our web site should be of interest to people concerned with the health of Social Security. June Zaccone, National Jobs for All Coalition, 475 Riverside Dr., Suite 832, NY, NY 10115 [EMAIL PROTECTED] "Social Security's finances are in fine shape," Remarks by David Langer, Consulting Actuary, to a Congressional conference to fight Social Security privatization, January 21, 1999 Analysis of 20-year data produced by the Social Security Administration (SSA) actuaries suggests that the imputed financial problem arises from projections based on faulty actuarial assumptions resulting from an apparent failure of SSA's actuaries to observe published actuarial standards of practice. …. Using assumptions that rely on historic experience, as called for by the Actuarial Standards of Practice, leads to the conclusion there is no looming imbalance in Social Security's financial position and that the system is in fine shape. http://www.njfac.org/langer.htm Social Security Actuaries' Changes In Methods And Assumptions, 1979-1998--Cumulative impact of 20 years of changes, by David Langer Each year, the Social Security Administration's actuaries measure the cost impact of their changes in actuarial assumptions and methods. In just one year, 1994, the Trustees' Annual Report raised the negative actuarial balance from -1.46% to -2.13% for the 75 year projection, with the effect of legislative changes included. This extraordinary 46% cost increase is what the Social Security Advisory Council, formed later in 1994, was faced with at its first meeting. This negative balance was the basis for seven of the thirteen Council members to call for some form of privatization to "protect" Social Security. http://www.njfac.org/Langer2.htm
