Social Security Liabilities
AbstractThis paper reviews the long-term financial problems facing the U.S. Social Security system. Not only is the system out of long-term actuarial balance, but implicit rates of return on worker contributions are low and dropping. The paper discusses different approaches for dealing with the twin problems suggested by the 1994-1996 Advisory Council on Social Security, ending with a case for a middle-of-the-road approach featuring modest long-term benefit cuts and small, centrally managed, add-on individual accounts. (Copyright: Elsevier)
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Bibliographic InfoArticle provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.
Volume (Year): 2 (1999)
Issue (Month): 3 (July)
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Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
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- Klaus-Jürgen Gern, 2002. "Recent Developments in Old Age Pension Systems: An International Overview," NBER Chapters, National Bureau of Economic Research, Inc, in: Social Security Pension Reform in Europe, pages 439-478 National Bureau of Economic Research, Inc.
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