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Introduction Some recent proposals to address Social Security’s financing shortfall have included an extension of coverage to the 5 million uncovered state and local workers. These proposals spark a predictable outcry from Massachusetts public employees and those in other affected states. This Issue in Brief analyzes the arguments for and against mandating Social Security coverag…
Introduction In 1980, the Chilean pension system was in crisis. It was paying more in benefits than it was receiving in contributions, and the projected actuarial imbalance was greater than the country’s Gross Domestic Product.1 The prescribed solution was to radically transform the traditional pay-as-you-go structure to a system based on personal retirement accounts. T…
