We need the advice of a qualified actuary using the projected unit method.
The yearly rate is calculated by the SSA Chief Actuary, and is available on the agency's website.
An actuary is a highly trained professional statistician who calculates risks and premiums for insurance companies.
The Standard Benefit Amount will be set by the board of trustees as advised by an actuary.
Almost all actuaries are members of either the SOA or the Casualty Actuary Society (CAS).
Insurance companies like Cigna are constantly recruiting new actuaries, and an experienced actuary may actually find recruiters from other companies attempting to woo them away from their current employer.
Which organization an actuary belongs to depends largely on what type of actuarial work he or she is involved in.
Appointed in 1862 actuary to the United States sanitary commission, he issued in 1869 an important volume of Military and Anthropological Statistics.
Graduating at Harvard in 1825, he was a teacher till 1835, was an actuary in 1835-1845, and then became assistant at the Washington observatory.
He was also frequently employed as consulting actuary, a business in which his mathematical powers, combined with sound judgment and business-like habits, fitted him to take the highest place.