Tag: Railroad Retirement program
Steven A. Sass discusses the evolution of the U.S. Railroad Retirement System and whether its ability to invest its assets in private equities offers any lessons for Social Security. Click here to order or to download the PDF free of charg…
Abstract The experience of the reformed Railroad Retirement program has lessons for initiatives that would invest Social Security assets in equities: To address the risk in equity investment, Congress would likely require an automatic adjustment mechanism to keep the program “on track.” The adjustment mechanism should address surpluses as well as shortfalls, and cannot b…
