An Intuitive Understanding of Social Security

Show simple item record Klus, Kevin 2014-05-08T13:59:37Z 2014-05-08T13:59:37Z 2014-05-08
dc.description.abstract Each year, the Social Security Board of Trustees compiles a report detailing the expected future status of Social Security. In order to forecast Social Security, economic and demographic variables are input into actuarial models. The result is a distribution of possible scenarios classified as low-cost, intermediate, or high-cost depending on their financial impact on Social Security. The modeling is completed through complex stochastic calculus techniques, which can sometimes cause the innate understanding to become lost in the mathematics. Even some everyday American citizens may struggle to be able to quickly and efficiently explain how movements in interest rates, mortality rates, or other factors impact Social Security. This paper will summarize the most important variables and their influence on Social Security with little or no calculations. By starting with the basics of each variable and explaining its usefulness with diagrams and/or exhibits, an intuitive understanding will be gained.
dc.language.iso en_US en_US
dc.title An Intuitive Understanding of Social Security en_US
dc.type Thesis en_US
dcterms.publisher Robert Morris University Honors Program

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