Archive: R. Kent Weaver
![social_security_5](https://crr.bc.edu/wp-content/uploads/2022/11/social_security_5.jpg.webp)
Abstract As the baby-boom generation enters retirement, a long-forecast funding crisis of the U.S. Social Security system is about to become a reality. Many other high-income countries are faced with similar financial problems within their public pension systems. Some of those countries have adopted legislative measures to reduce their funding deficits, and a few hav…
![Cheerful senior man at home looking at his mail](https://crr.bc.edu/wp-content/uploads/2022/11/social_security_2-1536x1025.jpg.webp)
Abstract Opt-out pensions pose many difficult design and implementation issues. The U.K. experience suggests several valuable lessons for U.S. policymakers. First, complex interactions between public and opt-out pensions may create confusion among workers, leading to both discontent and demands for policy change. Second, allowing recurrent opportunities to opt into and out of individual accounts increases…