Every four years the Social Security Advisory Board commissions a panel of expert economists, demographers and actuaries to review the assumptions of the Social Security Trustees and the methods of the Office of the Chief Actuary used in projecting the finances of the Old Age Survivors and Disability Insurance (OASDI) trust funds. The 2019 Technical Panel on Assumptions and Methods is the sixth such panel commissioned by the Board. This page includes the Panel’s report, executive summary, supplemental financial estimates, author disclosures and additional information on the Panel’s activities including meeting agenda and presentations.
Key Documents
TPAM 2019 FINAL REPORTTPAM 2019 Executive SummaryTPAM 2019 Supplemental Financial Estimates
Member disclosuresMember bio-sketchesPanel Charter
Members of the Panel
Robert M. Beuerlein (Chair), Consulting actuary with RM Beuerlein Consulting and recently retired Senior Vice President and Chief Actuary of AIG Life and Retirement Companies; fellow of the Society of Actuaries, a member of the American Academy of Actuaries, and a Chartered Enterprise Risk Analyst; past president of the American Academy of Actuaries (2017) and the Society of Actuaries (2006)
Ron Gebhardtsbauer, Professor Emeritus in the Actuarial Science Program, Penn State University. Fellow of the Society of Actuaries, Member of the American Academy of Actuaries
Alexander Gelber, Associate Professor, Department of Economics and School of Global Policy and Strategy, University of California, San Diego
Joshua Goldstein, Chancellor’s Professor of Demography, University of California, Berkeley
Patricia L. (Tricia) Guinn, Director, Reinsurance Group of America, Inc. and Assetmark Financial Holdings, Inc.; fellow of the Society of Actuaries; member of the American Academy of Actuaries; Chartered Enterprise Risk Analyst; and previously interim chief risk officer and managing director, Risk and Financial Services, Willis Towers Watson
Kathleen Mullen, Senior Economist, RAND Corporation and Director, RAND Center for Disability Research.
Louise Sheiner, Robert S. Kerr Senior Fellow in Economic Studies, Brookings Institution, and policy director, Hutchins Center on Fiscal and Monetary Policy
Sita Nataraj Slavov, Professor of Public Policy and Director of the public policy Ph.D. program, Schar School of Policy and Government, George Mason University
Kent Smetters, Boettner Chair Professor, Wharton School, University of Pennsylvania, and Faculty Research Fellow, National Bureau of Economic Research
Tom Terry, CEO of the Terry Group. Fellow of the Society of Actuaries, Member of the American Academy of Actuaries, fellow of the Conference of Consulting Actuaries, Enrolled Actuary, past president of the American Academy of Actuaries (2014) and the International Actuarial Association (2017)
Meeting Archives
Meeting 1: November 16, 2018
Meeting 2: December 14, 2018
MEETING AGENDA – Dec 14 2018
2-SLIDES-Anderson Mortality
3-SLIDES-Cutler Mortality Trends
4-SLIDES-OCACT Mortality Assumptions
5-SLIDES Liebman Disability
6-SLIDES Schuh_Leavitt Private Disability Insurance
7-SLIDES OCACT-Disability Assumptions
Meeting 3: January 25, 2019
1-MEETING AGENDA Jan 25 2019
2-SLIDES-OCACT Economic Assumptions and Methods
3-SLIDES Chui Automation and the Workforce
4-SLIDES-Deming Earnings Inequality Trends
5-SLIDES OCACT Projection Method Overview
Meeting 4: February 15, 2019
1-MEETING ARCHIVE Feb 15 2019
2-SLIDES OCACT-Fertility Assumptions
3-SLIDES Kohler US Fertility
4-SLIDES Gemmill Post Recession Fertility
5-SLIDES Goldstein-Period _ Cohort Fertility
6- SLIDES Edelberg_Werling CBO Economic Projections
7-SLIDES Gokhale Penn-Wharton Budget Model
8-SLIDES Schwabish Better Data Communication
Meeting 5: March 29, 2019
1-MEETING AGENDA Mar 29
2-SLIDES-Massey Immigration Trends
3-SLIDES-Parrado Immigration and Fertility
4-SLIDES OCACT Immigration Assumptions
5-SLIDES Acemoglu Future of Productivity and Work
6-SLIDES Wessel-Trustees Presentation Issues
7-SLIDES Stock Long Term Growth Rates