Tag: Longevity Insurance
The insurance enhances Social Security’s role of offsetting Black/White inequality. My colleagues have just completed a really interesting study pertaining to the progressivity of Social Security. The usual story focuses on money’s worth, highlighting the offsetting effect of two factors. On the one hand, Social Security helps Black individuals and those with less education –…
Social Security helps Black individuals and those with low educational attainment – and therefore low earnings – through its progressive benefit structure. On the other hand, the nature of Old-Age and Survivors Insurance (OASI) as a life annuity inherently increases expected lifetime benefits for individuals who tend to live longer. Regardless of how these factors…
