Actuarial Society of Greater New York ¦ Seminar ¦ November 29, 2000
Social Security's Long-Term Deficit: Does it exist?

Tapes are now available of the remarkable four hour session of the distinguished international panel of actuaries that weighed the evidence that Social Security does not have (as most everyone has been led to believe) a long-term financial problem that needs fixing.

CHAIRMAN: David Langer, FCA, ASA, EA
PANEL: Christopher D. Daykin, FIA, ASA. Government Actuary. Great Britain. Stephen C. Goss, ASA. Chief Actuary, Social Security Administration. Baltimore, Maryland. David Langer, FCA, ASA, EA. Consulting Actuary, David Langer Company, Inc. New York. J. Bruce MacDonald, FSA, FCIA. Canadian Social Security consultant. Halifax, Nova Scotia. Robert J. Myers, FSA, FCAS, FCA. Former Chief Actuary, Social Security Administration. Silver Spring, Maryland.

The Panel grappled with the profound questions raised about the methodology used by the Social Security Administration's actuaries to make their financial projections. These have for many years shown a long-term deficit, which has been used politically to declare that the program needs to be "saved" by cutting its benefits and privatizing it.

But is there really a deficit? No, says Dave Langer, who is uniquely qualified to critique the work of SSA's actuaries. Langer's critiques, which have now attracted the attention of members of Congress, were debated. The Canadian authority, Bruce MacDonald, who agrees with the critiques, elucidated the basic principles of actuarial science as it applies to Social Security. Describing and defending existing practices are the SSA's Chief Actuary, Steve Goss, and the legendary Bob Myers, former Chief Actuary. Great Britain's top social insurance actuary, Chris Daykin, who came from London to join our Panel discussion, also discusses his seminal paper, "Social Security and the Consulting Actuary,"

TAPES: The tapes are $35. There are two tapes lasting four hours. Specify video or audio. Order from Virginia Yardley, David Langer Co, Inc., 60 East 42 St. Suite 1834, NY, NY 10165. Make checks payable to: Actuarial Society of Greater New York.

"Best actuarial meeting we ever attended! I never saw so
much passion at an actuarial meeting!"
-Newsweek reporter