Social security as a Social Program and describe its worth/purpose, the data the program collects, explain how the data is analyzed/interpreted, describe if the program data is additive or not, explain the program structure, detail who the stakeholders/customers/target audiences are, specify if a survey is involved, and point out the program benefits, and what, if anything, you would change.

Additionally, discuss the current status of the program (drawing board, in testing, fielded, being cancelled, etc.). Finally, provide your recommendation as to the feasibility, needs, costs and benefits of the program. For example, is the project or program worth pursuing, a waste of taxpayer money, a great success, or in need of major changes? Use your primary text as the basis for formulating your social program evaluation. The content of the paper should demonstrate your understanding of program evaluation processes An outline with Abstract has been started: Work from this Outline: Can be loosely followed but general idea is included. Abstract: The original Social Security Act of 1935 created retirement benefits for only the retired worker, who became eligible at age 65. In 1939, Congress passed amendments to extend benefits to spouses and minor children of retired and deceased workers. Disability insurance arrived in 1954, and the disability program expanded in subsequent years to include the families of disabled workers. In 1972, Congress passed legislation to create annual cost-of-living adjustments for benefit levels. Prior to that time, benefit increases were subject to the whims of Congress and happened only intermittently. What is social security The 1975 Social Security Trustees report estimated that the Old-Age, Survivors, and Disability Insurance (OASDI) Trust Funds would be depleted by 1979. Administrators generally want the Trust Fund to be on track to cover net outflows for at least 75 years, so this was a serious problem. In 1977, Congress enacted amendments to deal with financial issues. The amendments increased the payroll tax, increased the amount of income eligible for the payroll tax, and reduced benefits slightly. This fixed the problem until the economic slowdown of the early 1980s, which meant the Trust Fund again faced serious short-term funding problems. What are the mechanics of the program Responsibilities: The Chief Actuary (TC) is directly responsible to the Commissioner for carrying out OCACT’s mission and for providing supervision to the major components of OCACT. A. The Deputy Chief Actuary (Short-Range) (TC) assists the Chief Actuary in carrying out his/her OCACT-wide responsibilities and performs other duties as prescribed. B. The Deputy Chief Actuary (Long-Range) (TC) assists the Chief Actuary in carrying out his/her OCACT-wide responsibilities and performs other duties as prescribed. C. The Immediate Office of the Chief Actuary (TCA) provides the Chief Actuary and his/her Deputies with staff assistance on the full range of their responsibilities; provides liaison and coordination; and conducts special actuarial studies and analyses. D. The Office of Short-Range Actuarial Estimates (TCB) is responsible for planning, directing and coordinating the development of short-range cost estimates for all Social Security programs both under current provisions and proposed changes in law or regulation. The programs for which estimates are prepared include the retirement, survivors and disability insurance program, and the supplemental security income program. Develops special cost analyses involving technical actuarial issues; projects operations of the Trust Funds; provides a variety of data services including data collection, statistical support; and prepares estimates for general fund and inter program reimbursement. E. The Office of Long-Range Actuarial Estimates (TCC) is responsible for planning, directing and coordinating the development of long-range cost estimates for the retirement, survivors and disability program both under current provisions and proposed changes in law or regulation. Provides all revenue estimates in both the near-term and the long-term for the retirement, survivors and disability insurance program and in the near-term for the hospital insurance program. Designs the economic, demographic and programmatic assumptions and the methods needed to develop these estimates; analyses and publishes actuarial research based on projections and actual program experience; and provides authoritative advice to agency policy makers and congressional staffs relating to the long-range actuarial impact of current law and proposed program changes. Benefits of social security system: You contribute 6.2 percent of your income. Workers pay 6.2 percent of their earnings into the Social Security system, up to $113,700 in 2013. Employers pay a matching 6.2 percent for each worker. Self-employed workers must contribute 12.4 percent of their income annually. Your full retirement age: You can collect the full amount of Social Security you have earned at what the Social Security Administration calls your full retirement age, which varies based on your birth year. The full retirement age used to be 65 for people born in 1937 or earlier. But the full retirement age was gradually increased in two-month increments from 65 and two months for people born in 1938 to 65 and 10 months for those born in 1942. You get bigger checks if you delay claiming: Married couples have additional claiming options Disadvantages; Forces spending rather than forced saving The Social Security Trustees estimate that reducing benefits to restore solvency would require an immediate 16.4 percent benefit cut the equivalent of reducing benefits this year by more than $150 billion. Mismanaged According to the Social Security Administration, all improper payments, including payments to the deceased and the very old, are estimated at about $3 billion per year. Alternatives to the social program A shift from current program of Social Security to personalized fully funded program will be advantageous for todays workers. Since they are not required to pay Social Security taxes any more, their personal disposable income will rise. They will themselves plan for their retirement and hence might start saving more. This may result in an increase in the current U.S. saving rate. The government, which was taxing todays workers in old Social Security program, will now have to think of some other method of providing them Social Security benefits. It cannot transfer wealth to the elderly in the same way as it does for the poor. Ultimately such transition will be a burden on the government and might increase its spending further more. 1. 2. 3. What are the cons of this program What would I change about the program