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Author: United States. Congress. Senate. Special Committee on Aging
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: United States. Congress. Senate. Special Committee on Aging
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: United States. Congress. Senate. Special Committee on Aging
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
Author: United States. Congress. Senate. Special Committee on Aging
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 134
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Book Description
Author: John Y. Campbell
Publisher: University of Chicago Press
ISBN: 0226092569
Category : Political Science
Languages : en
Pages : 509
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Book Description
Our current social security system operates on a pay-as-you-go basis; benefits are paid almost entirely out of current revenues. As the ratio of retirees to taxpayers increases, concern about the high costs of providing benefits in a pay-as-you-go system has led economists to explore other options. One involves "prefunding," in which a person's withholdings are invested in financial instruments, such as stocks and bonds, the eventual returns from which would fund his or her retirement. The risks such a system would introduce—such as the volatility in the market prices of investment assets—are the focus of this offering from the NBER. Exploring the issues involved in measuring risk and developing models to reflect the risks of various investment-based systems, economists evaluate the magnitude of the risks that both retirees and taxpayers would assume. The insights that emerge show that the risk is actually moderate relative to the improved return, as well as being balanced by the ability of an investment-based system to adapt to differences in individual preferences and conditions.
Author: Alicia Haydock Munnell
Publisher: W.E. Upjohn Institute
ISBN: 0880992913
Category : Business & Economics
Languages : en
Pages : 182
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Book Description
The purpose of this book is to explore the use of equities to help solve the Social Securityfinancing problem.
Author: Peter A. Diamond
Publisher: Rowman & Littlefield
ISBN: 0815797834
Category : Political Science
Languages : en
Pages : 322
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Book Description
New in Paperback. While everyone agrees that Social Security is a vital and necessary government program, there have been widely divergent plans for reforming it. Peter A. Diamond and Peter R. Orszag, two of the nation's foremost economists, propose a reform plan that would rescue the program both from its projected financial problems and from those who would destroy the program in order to save it. Since the publication of the first edition of this book in 2004, the Social Security debate has moved to the center of the domestic policy agenda. In this updated edition of Saving Social Security, the authors analyze the Bush Administration's proposal for individual accounts and discuss the so-called "price indexing" proposal to restore long-term solvency through changing how initial benefits would be calculated. Soc ial Security is essis essential reading for policymakers involved in reform, analysts, students, and all those interested in the fate of this safeguard of American lives. "An honest, transparent and comprehensive approach to making the much needed reforms to the Social Security program."—Journal of Pensions, Economics, and Finance "Very accessible presentation of facts, analysis of underlying problems, comparison of opinions, and argument for proposed reforms."—Future Survey Exhaustively researched and deeply entrenched in practical issues and mathematical calculations... a highly recommended ray of hope against a looming national crisis." —Wisconsin Bookwatch "Diamond and Orszag bring some welcome realism and decency to the debate."—Robert M. Solow, Institute Professor Emeritus, Massachusetts Institute of Technology, Nobel Laureate in Economics
Author: Andrew G. Biggs
Publisher:
ISBN:
Category :
Languages : en
Pages : 9
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Book Description
The recent financial crisis and ensuing stock market gyrations have drawn renewed attention to Social Security reform, in particular proposals to establish personal retirement accounts that invest in stocks and bonds. As Barack Obama asked a campaign audience, quot;Imagine if you had some of your Social Security money in the stock market right now. How would you be feeling about the prospects for your retirement?quot; But despite the recent market downturn, individuals investing four percentage points of the 12.4 percent payroll tax in a personal account holding a quot;life-cyclequot; portfolio and retiring today would have increased their total Social Security benefits by more than 15 percent. Moreover, a simulation of ninety-five cohorts of individuals retiring from 1915 through 2008 found that all of them would have increased their total Social Security benefits by holding personal accounts. These results are not intended to understate the risks of equity investment, but rather put them in perspective. Some analysis has overstated the importance of returns over a short period of time relative to those over the full course of a working lifetime by looking at declines in stock returns over only the last year. While individuals retiring today may have ended with a lower account balance than they expected, they would nevertheless have significantly increased their total retirement benefits by virtue of choosing to participate in a personal retirement account.
Author: John Geanakoplos
Publisher:
ISBN:
Category : Defined contribution pension plans
Languages : en
Pages : 106
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Book Description
Author: Martin Feldstein
Publisher: University of Chicago Press
ISBN: 0226241823
Category : Political Science
Languages : en
Pages : 484
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Book Description
This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest
Author: Michael Tanner
Publisher: Cato Institute
ISBN: 9781930865556
Category : Political Science
Languages : en
Pages : 412
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Book Description
Tanner (Cato Project on Social Security Choice) brings together work by leaders in Social Security reform, examining problems of the current system and offering proposals for reform. Contributors in economics, law, and philosophy, many affiliated with the Cato Institute, examine aspects of the problem related to issues such as property rights, the impact of Social Security reform on low-income workers, and how stock market declines affect the reform debate. They advocate allowing younger workers to privately invest their Social Security taxes through individual accounts.
