Tag: social security deficit
Each year the Trustees of the Social Security system report on its financial health over the next 75 years. The 2011 Report shows that, despite reduced revenues and increased benefit claims in the short run, the system continues to face a 75-year deficit equal to about 2 percent of taxable payroll (see Figure). T…
Introduction Saving is a critical component of both retirement security for individuals and the long-term growth of the nation’s economy. Current trends in Social Security, 401(k) plans, and personal saving suggest that individuals will need to save more to ensure that they can enjoy a comfortable retirement. The federal government can also contribute to t…