Archive: Alicia H. Munnell

Man touching a choice concept

We know what we are dealing with, and can take steps to address it. The key metric used to summarize Social Security’s financial status is the 75-year deficit.  This number is the present discounted value of scheduled taxes (plus the existing trust fund) minus the present discounted value of scheduled benefits divided by the present…

Wooden figures on puzzle pieces on yellow background

At any given time, only about half of U.S. private sector workers are covered by an employer-sponsored retirement plan.  As a result, roughly one-third of households end up completely reliant on Social Security at retirement, while others move in and out of coverage throughout their careers and end up with only modest balances in a…