JTF#16  

Introduction

The Trustees of the Social Security system have just issued the 2005 report. The projections used in this report are prepared by Social Security's Office of the Actuary. The Report projects the system's financial outlook under three sets of cost assumptions - high, low and intermediate. This Just the Facts focuses on the intermediate assumptions and puts this year's numbers in perspective.

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Alicia H. Munnell is the director of the Center for Retirement Research at Boston College and the Peter F. Drucker Professor in Management Sciences at Boston College's Carroll School of Management.