Tag: Social Security system
Let’s see if we agree on what the retirement age is today. With the projected depletion of the Social Security trust fund assets in the 2030s, policymakers are looking for ways to bridge the gap. One of the major proposals is to increase the retirement age. Certainly, with average life expectancy increasing, longer careers could…
Simulating the Distributional Consequences of Personal Accounts: Sensitivity to Annuitization Option
Abstract Recent Social Security reform efforts focus predominantly on the establishment of personal retirement accounts either to supplement or partially replace the current Social Security program. An important issue related to these personal accounts is whether they will redistribute income and how any redistribution compares to that under the current Social Security system. The answer…
