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Actuaries Laud New President's Medicare and Social Security Message, Call for Bipartisan Solution
Date:1/21/2009

he program's long-term actuarial imbalance by increasing Social Security's retirement age.

"By acting now policymakers would have a full range of policy options to choose from," Terry said. "They will also be able to apply those options to more of the population, and give people more time to appropriately plan for retirement."

Terry also said that the program is facing a demographic problem that demands a demographic solution. There are many options available to policymakers, and as actuaries we are hopeful that increasing the retirement age will be a part of any solution.

President Obama's message came during a 70-minute interview with Washington Post reporters and editors on Jan. 15. For more information, please contact Andrew Simonelli, assistant director of communications for the American Academy of Actuaries, at 202.785.7872. For more information on the American Academy of Actuaries, please visit: www.actuary.org.

The American Academy of Actuaries is a 16,000-member professional association whose mission is to serve the public on behalf of the U.S. actuarial profession. The Academy assists public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries in the United States.

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