Big Numbers

It is critical to recognize the magnitude of the numbers involved in American health care and understand how that magnitude affects both the nation’s physical and financial health.

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Big Benefits

A look at how the management of health care delivery and finances affects the costs, availability and quality of health care.
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Who Pays

An analysis of who charges what, who pays for what and why that makes a difference.
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About Concerned Actuaries Group

We Believe America’s social insurance programs are not financially sustainable
  • Our Mission: Provide full, accurate, and easily understood analyses of the financial realities affecting the funding and security of our nation's public finance and social insurance programs. These programs include federal, state and local retirement, healthcare and other publically funded social entitlements dependent on long range planning and advance funding..
  • What We Hope to Achieve: Ensure that the nation's public finance and social insurance programs are designed and managed with the actuarial discipline and transparency such programs deserve and should require.
  • What We Do: Seek illumination and understanding of and agreement about, the facts affecting the nation's public finance and social insurance programs and their stakeholders.

    Share information with nation's public finance and social insurance programs’ stakeholders including beneficiaries, current and future taxpayers and policy makers.

    Advocate for rigorous standards, disciplined program costing, management metrics, and transparency.

Our Directors


Bob Shapiro is President and a Director of the Concerned Actuaries Group Inc. (CAG).

Bob has been a consultant to life insurance companies and other related organizations for more than 50 years, specializing in strategic management and transaction implementation. He is a Fellow of the Society of Actuaries and a Chartered Life Underwriter. He has been a board member and trustee of a number of organizations and currently is both a trustee of the American College as well as an emeritus trustee of the Actuarial Foundation. Professionally, Bob has served 9 years on the Board of Governors of the Society of Actuaries. Bob was also one of the founders and first Chairman of the Social Insurance and Public Finance (SIPF) Section of the Society of Actuaries (SOA).


Retired, former Principal, Milliman; Member, Board of Governors of the Society of Actuaries; EVP, Council for Affordable Health Insurance


Bob Collett is a former Principal, Director, President, and CEO of Milliman and served as Chairman of Milliman Global prior to his retirement. He holds degrees from Rice University and Duke University. Bob is also a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.



CERA, MAAA; Independent Actuary; former head, Morgan Stanley Pensions; former Society of Actuaries Vice President and Board Member; former Vice Chair of the Pension Practice Council of the American Academy of Actuaries


Former President of the Society of Actuaries; former Chair of the Actuarial Standards Board


FCA, FCAS, FCIA, MAAA, MSPA Charter Member of the American Academy of Actuaries and the National Academy of Social Insurance; past President of the Casualty Actuarial Society and the Conference of Consulting Actuaries; Chairman of the Critical Review of the U.S. Actuarial Profession


Principal of Black Diamond Capital Partners; former Vice Chairman of Swiss Re America


Retired Executive, Fidelity Investments


Retired former Principal, Milliman


Bob Sartorius is a member of the executive committee of the Concerned Actuaries Group Inc. (CAG).

Bob is a consulting actuary with over 40 years of experience in employee benefits consulting. His primary area of expertise is in the retirement plan arena where, during the course of his career, he served as the enrolled actuary for over 100 defined benefit pension plans while working with dozens of plan sponsors. He also provided advice and consulting regarding his clients’ defined contribution, retiree medical and supplemental executive retirement plans. His clients have included corporate and not-for profit retirement plan sponsors, multiemployer pension plan trust funds, and some governmental employers. Bob is an Associate of the Society of Actuaries, a Member of the American Academy of Actuaries, a Fellow of the Conference of Consulting Actuaries and an Enrolled Actuary.


Retired former Principal, Milliman; former President, Conference of Consulting Actuaries

Frequent Questions

What does the CAG hope to accomplish with their current initiative?

A: The CAG is persuaded that the nation’s social insurance programs are facing serious challenges. We believe that the public deserves to be told about these challenges and that those who seek public office should be expected to talk about how they would address these challenges. We believe that the members of our profession - and the institutions that represent our profession - have an opportunity and a responsibility to enhance public awareness and public accountability during the 2016 presidential campaign. The CAG’s current initiative is dedicated to increasing actuarial engagement with these opportunities and the responsibilities..

Has this effort been endorsed by any of the organizations representing actuaries?

A:No. After repeated efforts to engage these organizations we have reluctantly concluded that the nature and focus of the profession’s current institutional engagement inadequately addresses our profession’s responsibility to protect social insurance and other public promises by managing with discipline, assuring fairness and intergenerational equity. We also fear that by failing to play a leading role in the discussion, our profession is diminishing or potentially eliminating the credibility that will be accorded future actuarial generations.

Would the CAG work with the organizations representing actuaries if those organizations decided they should become more engaged?

A:Of course!