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Reforming the U.S. Retirement Income System: The Growing Role of Work

September 1, 2003
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Introduction

The U.S. retirement income system has two main components — Social Security and publicly subsidized and regulated employer plans. The federal government created Social Security in the Great Depression, when the problem of old-age poverty was especially severe. Social Security is an employment-based social insurance program that assures older workers a basic replacement income they can no longer work. Contributions are proportional to earnings up to a maximum level; benefits are based on a worker’s earnings and contribution history, with a significant redistributive twist to assure a basic old-age income to low-wage workers…

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Headshot of Steven A. Sass
Steven A. Sass
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Citation

Sass, . 2003. "Reforming the U.S. Retirement Income System: The Growing Role of Work" Issue in Brief 1. Chestnut Hill, MA: Center for Retirement Research at Boston College.

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Topics
Social Security
Publication
Issue Brief
Publication Number
GIB#1
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