Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Pension - Social Security
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

DW Simpson International Actuarial Jobs
Canada  Asia  Australia  Bermuda  Latin America  Europe


Reply
 
Thread Tools Search this Thread Display Modes
  #31  
Old 12-12-2018, 05:48 PM
twig93's Avatar
twig93 twig93 is offline
Member
SOA
 
Join Date: Jun 2003
Posts: 33,151
Default

Quote:
Originally Posted by bdschobel View Post
People born on the 2nd of the month attain their age on the 1st -- and are the only group that can receive benefits at exact age 62. Everyone else has to wait until at least age 62 years and 1 month. People born on the 2nd who wait a month to claim benefits get the appropriate increase (one fewer month of delayed-retirement reduction). Why would you believe that people born on the 2nd get cheated somehow? Surely, Social Security wouldn't do such a thing.

Bruce
Because I put the dates into an old version of anypia. And this is what it told me:

Birthday not on 2nd:
Claim on SSNRA? 100% benefit
Claim 1 month early? 99.44% benefit
Claim 1 month late? 100.67% benefit

Birthday on the 2nd:
Claim on SSNRA? 100% benefit
Claim 1 month early? 98.89% benefit
Claim 1 month late? 100% benefit

That directly contradicts Steve's link, which is why I'm curious what the current anypia says.
__________________
Originally Posted by Gandalf
The thing that is clearest is twig's advice
Reply With Quote
  #32  
Old 12-12-2018, 05:55 PM
bdschobel's Avatar
bdschobel bdschobel is offline
Past SOA President
SOA AAA
 
Join Date: May 2004
Location: Winter Garden, FL
Studying for FSA '76
College: MIT '74
Posts: 15,480
Default

OK, have fun with it. But it is NOT an official interpretation of Social Security law. And what you are reporting contradicts the law.

Bruce
Reply With Quote
  #33  
Old 12-12-2018, 06:22 PM
Westley Westley is offline
Member
 
Join Date: Nov 2001
Posts: 28,887
Default

Quote:
Originally Posted by bdschobel View Post
By the way, the U.S. Government generally uses a "day of attainment" concept that I amusedly follow in my personal life.
Curious in what ways you follow this in your personal life...
Reply With Quote
  #34  
Old 12-12-2018, 06:30 PM
bdschobel's Avatar
bdschobel bdschobel is offline
Past SOA President
SOA AAA
 
Join Date: May 2004
Location: Winter Garden, FL
Studying for FSA '76
College: MIT '74
Posts: 15,480
Default

I celebrate my "day of attainment," as well as my actual birthday.

Bruce
Reply With Quote
  #35  
Old 12-12-2018, 07:57 PM
Colymbosathon ecplecticos's Avatar
Colymbosathon ecplecticos Colymbosathon ecplecticos is offline
Member
 
Join Date: Dec 2003
Posts: 6,089
Default

Quote:
Originally Posted by bdschobel View Post
I celebrate my "day of attainment," as well as my actual birthday.

Bruce
I celebrate every day.
__________________
"What do you mean I don't have the prerequisites for this class? I've failed it twice before!"


"I think that probably clarifies things pretty good by itself."

"I understand health care now especially very well."
Reply With Quote
  #36  
Old 12-12-2018, 08:33 PM
JMO's Avatar
JMO JMO is offline
Carol Marler
Non-Actuary
 
Join Date: Sep 2001
Location: Back home again in Indiana
Studying for Nothing actuarial.
Posts: 37,643
Default

Quote:
Originally Posted by bdschobel View Post
I celebrate my "day of attainment," as well as my actual birthday.

Bruce
what kind of cake do you have on your day of attainment?
__________________
Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Nov. 20, 2018.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by El Actuario View Post
Therapists should ask the right questions, not give the right answers.
Quote:
Originally Posted by Sredni Vashtar View Post
I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
Reply With Quote
  #37  
Old 12-12-2018, 09:11 PM
bdschobel's Avatar
bdschobel bdschobel is offline
Past SOA President
SOA AAA
 
Join Date: May 2004
Location: Winter Garden, FL
Studying for FSA '76
College: MIT '74
Posts: 15,480
Default

Attainment cake, of course!

Bruce
Reply With Quote
  #38  
Old 12-13-2018, 09:00 AM
nonlnear nonlnear is offline
Member
Non-Actuary
 
Join Date: May 2010
Favorite beer: Civil Society Fresh IPA
Posts: 30,932
Default

Quote:
Originally Posted by CuriousGeorge View Post
The scary thing is, I bet some of this craziness was dreamed up in order to "simplify" things.
I can actually see how it could have simplified things back in the days of paper files. Ages only need to be tracked by month; payment date is the only thing that depends on birthdate - and only three buckets at that. Not too bad from a record-managing perspective.

Of course all that became the opposite of simplification as of the age of Small Data, but the institutional inertia is just too big.

Last edited by nonlnear; 12-13-2018 at 09:05 AM..
Reply With Quote
  #39  
Old 12-13-2018, 09:10 AM
bdschobel's Avatar
bdschobel bdschobel is offline
Past SOA President
SOA AAA
 
Join Date: May 2004
Location: Winter Garden, FL
Studying for FSA '76
College: MIT '74
Posts: 15,480
Default

Quote:
Originally Posted by nonlnear View Post
...payment date is the only thing that depends on birthdate - and only three buckets at that....
Even that wasn't true until 1997. Before then, everyone was paid on the 3rd of the following month (unless the 3rd was a Saturday, Sunday or legal holiday). Mailbox theft on the 3rd was a major industry; you only had to work one day a month! (It's really not funny.)

Bruce
Reply With Quote
  #40  
Old 12-13-2018, 09:57 AM
gen7 gen7 is offline
Member
SOA AAA
 
Join Date: Nov 2018
College: SUNY
Posts: 1,332
Default

Quote:
Originally Posted by bdschobel View Post
OK, have fun with it. But it is NOT an official interpretation of Social Security law. And what you are reporting contradicts the law.

Bruce
Bruce, I assume Twig's concern is that they are calculating an integrated benefit and if the PIA they are using is wrong, the qualified plan DB may also be wrong.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 09:31 PM.


Powered by vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.20577 seconds with 9 queries