Tag: benefit generosity
Including disability benefits provides a more complete picture. The Social Security actuaries just released a study that takes a new look at the progressivity of the Social Security program – that is, the extent to which it pays relatively more generous benefits to low earners than to high earners. The usual story focuses on “money’s…
Abstract Social Security’s design is known to help Black individuals and those with lower socioeconomic status due to the progressive benefit formula, but this effect is partially offset by the shorter life expectancies of these groups. However, valuing Old-Age and Survivors Insurance (OASI) solely on expected benefits neglects the program’s longevity insurance value, which favors…