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Introduction Saving is a critical component of both retirement security for individuals and the long-term growth of the nation’s economy. Current trends in Social Security, 401(k) plans, and personal saving suggest that individuals will need to save more to ensure that they can enjoy a comfortable retirement. The federal government can also contribute to t…

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Introduction As just reiterated in the 2005 Trustees Report, Social Security faces a 75-year deficit equal to roughly 2 percent of taxable payrolls. Closing this gap requires either a cut in benefits or an increase in taxes. One approach to cutting benefits under consideration by the administration is to change how benefits are indexed. An…