@article{9fafe87638804cf18af321c4843a76ec,
title = "A factor- And goal-driven model for defined benefit pensions: Setting realistic benefits",
author = "Mulvey, {John M.} and Lionel Martellini and Han Hao and Nongchao Li",
note = "Funding Information: 10The Social Security program started in 1935 and has been paying on a timely schedule since then. The program is funded by contribution from both employers and employees in the form of payroll taxes or self-employment taxes. It pays for retirement and other benefits, such as disability. Beginning in 1941, the Social Security Board of Trustees is required to present to the Congress a financial report and detailed actuarial estimates of the fund. According to Goss (2010), the board has six members, including the Secretary of the Treasury as the managing trustee, the Secretary of Labor, the Secretary of Health and Human Services, and the Commissioner of Social Security, plus two public trustees appointed by the president and confirmed by the Senate. Exhibit 7 shows the current financial statement of the fund. Copyright: Copyright 2020 Elsevier B.V., All rights reserved.",
year = "2019",
doi = "10.3905/jpm.2019.45.3.165",
language = "English (US)",
volume = "45",
pages = "165--177",
journal = "Journal of Portfolio Management",
issn = "0095-4918",
publisher = "Institutional Investor, Inc",
number = "3",
}