Office of the Chief Actuary
From Wikipedia, the free encyclopedia
The Office of the Chief Actuary is an organizational entity within both of the governments of the United States and Canada. The Office has responsibility for actuarial estimates regarding social welfare programs like Social security in the USA and the Canadian Old Age Security System. A comparable organization exits in the United Kingdom called the Government Actuary's Department (GAD)
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[edit] United States Government
[edit] Mission
The Office of the Chief Actuary (OCACT) plans and directs a program of actuarial estimates and analyses relating to SSA-administered retirement, survivors and disability insurance programs and to proposed changes in those programs. It evaluates operations of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, conducts studies of program financing, performs actuarial and demographic research on social insurance and related program issues, and projects future workloads.
In addition, the Office is charged with conducting cost analyses relating to the Supplemental Security Income (SSI) program, a general-revenue financed, means-tested program for low-income aged, blind and disabled people. The Office provides technical and consultative services to the Commissioner, to the Board of Trustees of the Social Security Trust Funds, and its staff appears before Congressional Committees to provide expert testimony on the actuarial aspects of Social Security issues.
[edit] Major Accomplishments
[edit] Government Actuaries
[edit] Canada
[edit] Government Actuaries
[edit] Other Nations
[edit] References
The following references are provided to demonstrate the broad scope of the national welfare administration systems including multidisciplinary reviews, estimating tools and other administration items. . These references appear to be apolitical and deal with financial and behavioral facts and issues.
[1] Stochastic Models of the Social Security Trust Funds
[2] Stochastic Models of the Social Security Trust Funds in .pdf format
[3] Reform Model Two of the President's Commission to Strengthen Social Security. Distributional Outcomes under Different Economic and Behavioral Assumptions
[4] Social Security Advisory Board, Annual Report, October 2001
[5] What Stock Returns to Expect in the Future, an Update by Peter A. Diamond
[6] Options to Balance Social Security Funds over the Next 75 Years.
[7] Proposed Totalization Agreement with Mexico Presents Unique Challenges:
[8] Modeling Income in the Near Term: Revised Projections of Retirement Income Through 2020 for the 1931-1960 Birth Cohorts
[9] Expected Equity Returns, Stephen C. Goss, Chief Actuary
[10] Accrual Accounting for Social Security, Peter A. Diamond
[11] Technical Paper Series, Congressional Budget Office, Washington, DC. OVERVIEW OF THE CONGRESSIONAL BUDGET OFFICE, LONG-TERM (CBOLT) POLICY SIMULATION MODEL
[12] Winners and Losers under Various Approaches to Slowing Social Security Benefit Growth
[13] Uncertainty in Social Security Trust Fund Projections
[14] SSA Organizational Directory
[15] SSA Organizational Manual
[16] Estimating Your Social Security Benefits with the SSA Calculator
[17] REPORTS ABOUT PUBLIC PENSIONS AND AGING SOCIETY - CANADA
[18] The Government Actuary's Department (GAD) in the United Kingdom
