ACADEMY IN THE NEWS

The following items contain links to news stories in which the Academy or Academy volunteers appear. Note: The Academy is not responsible for the content of these websites. Some sites may require registration or a subscription. Links may expire.


August 17, 2008
Los Angeles Times

The Academy's Bruce Schobel offers advice to consider regarding when to collect Social Security benefits.

August 14, 2008
MSNBC.com

The Academy's Bruce Schobel discusses how demographic shifts in America will affect programs such as Social Security. Schobel and the Academy are cited as advocating increasing the retirement age to help offset the effects of increased longevity.

August 12, 2008
Des Moines Register

The Academy's statement calling for an increase in the Social Security retirement age was cited. 

August 08, 2008
Mobile Press-Register

The Academy's recommendation to address Social Security's "permanent imbalance" by increasing the retirement age was cited. 

August 06, 2008
Post and Courier

The Academy's recommendation to increase the Social Security retirement age was cited. 

August 05, 2008
Washington Post Writer's Group

The Academy's recommendation to increase the Social Security retirement age was discussed. Syndicated columnist Marie Cocco wrote that "if we want a long-term solution to treat all recipients as equally as possible, and do it in a way that is straightforward, there is solid reasoning behind the actuaries' plan." 

August 05, 2008
Wall Street Journal

A news conference to announce the Academy's advocacy statement on increasing the Social Security's retirement age was discussed. "Holding the retirement age constant is a certain prescription for future financial problems," said Tom Terry, the Academy's vice president for pension issues.

August 03, 2008
Seattle Post-Intelligencer

The Academy's recommendation to increase the Social Security retirement age was discussed. 

August 03, 2008
Binghamton Press & Sun-Bulletin

The Academy's recommendation to increase the Social Security retirement age was cited. 

August 01, 2008
Associated Press / CBSNews.com

The Academy's to-be-released statement on the Social Security retirement age was previewed. The Academy's Bruce Schobel said, "You just can't have people living longer and longer and longer, and have the program with a frozen normal retirement age of 67. It just doesn't make sense."

July 10, 2008
Accounting Web

Sam Gutterman's remarks on behalf of the Academy during a July 9 Securities and Exchange Commission roundtable on fair value accounting standards were cited. Gutterman said there was a need to educate corporate officers, boards, auditors, and investors on the issue.

July 08, 2008
Worcester Telegram and Gazette

The Academy's 2006 analysis on the availability and affordability of terrorism risk insurance coverage for the President's Working Group on Financial Markets was cited.

July 01, 2008
Wired

A look at how advances in data crunching are changing science, medicine, business, and technology included an anecdote about how actuaries and the Academy used catastrophe models and terabytes of data to estimate the insured losses that could result from various types of terrorist attacks. The feature also cited the Academy's 2006 analysis of terrorism risk coverage for the President's Working group on Financial Markets.

June 28, 2008
Times-Tribune (Scranton, Pa.)

The Academy's issue brief, Medicare's Financial Condition: Beyond Actuarial Balance, was cited in an editorial. The actuaries wrote,"The sooner the solutions are enacted, the more effective and gradual they can be. Moreover, the early introduction of reforms increases the time available for affected individuals and organizations — including health care providers, beneficiaries and taxpayers — to adjust their expectations."

June 23, 2008
Investment News

Donna Claire, the chairperson of the Academy's Life Financial Soundness/Risk Management Committee, discussed new mortality tables and their implications for how insurance policies are marketed. 

June 20, 2008
McClatchy

A review of the presidential candidates' positions on reforming Social Security provided a link to the Academy's Social Security Reform Options monograph.

May 07, 2008
Connecticut Network

The Academy's September 2006 issue brief on medical insurance pools was discussed by state Sen. Leonard Fasano. The Connecticut Senate was considering a bill to open the state employee insurance pool to municipal employees on a voluntary basis.

April 22, 2008
National Underwriter Life & Health

The North American Actuarial Council's request that the Academy draw more attention to Americans' increasing lifespans was discussed. The letter, signed by 15 presidents and presidents-elect of North American actuarial associations, warned that failure to adapt to increasing longevity could threaten the viability of many financial security arrangements.

April 07, 2008
The Greenville News

The Academy's issue brief providing an actuarial perspective on the 2008 Medicare Trustees Report was cited. The brief stated that fixing Medicare's 75-year deficit would require an immediate 122 percent increase in the Medicare payroll tax, a 51 percent cut in benefits, or a combination of the two.

April 01, 2008
AARP Bulletin

Ron Gebhardtsbauer, the Academy's former senior pension fellow, discussed the advantages of waiting to collect Social Security benefits. He said, "Waiting until age 70 gives you a much bigger income for the rest of your life."

February 21, 2008
BestDay Audio

Outgoing Academy Executive Director Kevin Cronin was the featured guest and offered an update on the actuarial profession, background on the Academy, a summary of recent Academy accomplishments, and a look ahead.

February 17, 2008
Baltimore Sun

Bruce Schobel, chairperson of the Academy's Retirement Security Principles Task Force, revealed some of the lesser-known facts about Social Security.

January 29, 2008
Columbus Dispatch

Ron Gebhardtsbauer, the Academy's senior pension fellow, warned that baby boomers who retire early will forever reduce not only their Social Security benefit, but their spouses' as well. He says the longer you and your spouse live, the more you lose.

January 23, 2008
The Greenville News

Just days before the South Carolina Democratic primary, an editorial focused on the lack of "comprehensive attention" from presidential candidates and Congress on Social Security and Medicare's financial problems. The editorial cited the Academy's issue brief, Medicare's Financial Condition: Beyond Actuarial Balance.

January 16, 2008
USA Today

Academy Senior Pension Fellow Ron Gebhardtsbauer was quoted. Gebhardtsbauer said early baby boomers are more likely to have a defined benefit pension from their employer compared to younger baby boomers.

January 15, 2008
USA Today

The Academy was cited as the source of median retirement ages for males and females in 2001 and 2006.

January 14, 2008
USA Today

The Academy was cited for its analysis concluding that boomers who live the longest stand to lose the most by collecting early Social Security benefits. The Academy also collaborated with the newspaper to create a calculator to help readers determine how much could be gained or lost--depending on how long a retiree lives. The Academy's Senior Pension Fellow Ron Gebhardtsbauer also was cited as the source of a complementary graphic that contained the probabilities of 62-year-old males, females, and couples living to various ages.

January 01, 2008
Best's Review

Academy Committee on Property and Liability Financial Reporting  (COPLFR) Chairperson Marc Oberholtzer wrote an article based on the committee's overview of the loss reserving process. The overview includes a sample checklist of actuarial information that might be helpful to P/C insurers' audit committees and boards of directors.

December 02, 2007
New Hampshire Union Leader

Academy Senior Health Fellow Cori Uccello urged the presidential candidates to start paying attention to Medicare's financial difficulties. "Candidates need to break the silence, acknowledge the problem, and begin a public dialogue that addresses the tradeoffs necessary to ensure Medicare's future," Uccello wrote. Her commentary was published during the height of primary season, which brings national attention to New Hampshire, who holds the nation's first primary.

November 29, 2007
BusinessWeek

Academy Senior Pension Fellow Ron Gebhardtsbauer was quoted. He said that a traditional pension plan generally suits older employees better than a 401(k), because of how benefits are calculated.