Tag: money's worth
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…
The brief’s key findings are: The value of Social Security’s retirement program to individuals is often measured by comparing expected benefits to payroll taxes. But this approach ignores the program’s insurance value, which is larger for those with more uncertain lifespans. The analysis estimates the insurance value using a lifecycle model for stylized households by race, education,…
