Archive: Alicia H. Munnell
Did policymakers in 1983 do a good job fixing Social Security? The impending exhaustion of Social Security’s retirement trust fund in 2033 has stimulated a lot of commentary. One strain focuses on actions taken in 1983 – the last time Congress addressed the program’s finances. In terms of outcomes, some commentators conclude that Congress did…
Planning for retirement has always been hard, because people face numerous risks – including outliving their money (longevity risk), investment losses (market risk), unexpected health expenses (health risk), and the erosive impact of rapidly rising prices (inflation risk). Further complicating such planning are possible shifts in the public policy environment: changes to social insurance programs…
