Social Security Technical Panel Report to the 1991 Advisory Council on Social Security: appendices.

The quadrennial Advisory Council on Society Security convened a panel of economists and actuaries to review the economic and demographic assumptions and the methods used to project the status of the Social Security trust funds. In August 1990, the Panel of Technical Experts submitted a report of their findings and recommendations, which were reprinted in the November Social Security Bulletin. In summary, the Panel found the projection work of the Social Security Administration’s Offices of the Actuary and Research and Statistics to be “professional and highly competent.” However, the Panel recommended the use of new or revised tests of the system’s short-run and long-run financial soundness, and changes in three of the major economic assumptions used in projecting the system’s future. The Panel did not recommend changes in the demographic assumptions that underlie the projections. Panel members recommended a more thorough external review and validation of the projection methodology than time permitted and cited numerous areas where its members thought further research would be useful. The full report also contained appendices.