Tag: Social Security
Introduction The Trustees of the Social Security system have just issued the 2008 projections for the system over the next 75 years. The report contains two surprises. First, the 75-year deficit dropped to 1.70 percent of taxable payrolls from the roughly 2 percent it has been for the last 14 years. The decline was driven…
Abstract While growing fiscal pressures and increasing life expectancy have prompted calls to raise retirement ages so that lifetime benefits would be concentrated in older ages, some fear that this change—without other adjustments—might harm long-career, lower-wage workers. Tying retirement benefit eligibility to years of service might protect lower-wage workers if they tend to start their…
