Feature Article

Past Commentary

By way of introduction, direct government costs are cash expenditures by federal, state, and local governments; the costs of future promised or expected expenditures are not included until the money is spent. Indirect costs are expenditures or the equivalent incurred by individuals and businesses in complying with government regulations and mandates, again at all levels of government. The pros and cons of these expenditures is beyond the scope of this article, which is concerned solely with the actuarial exercise of projecting future costs based on an analysis of historical experience in the light of present and anticipated conditions.

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To help provide key stakeholders a full, accurate, and easily understood analysis of the financial realities of the nation’s social insurance and public employee benefit programs.


To assure that these systems are designed and managed with the financial discipline and transparency they require, but which they are not getting because of political pressures and the tendency of elected and other representatives to look for support rather than illumination.