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Social Security and Inheritance: The Dubious Promise of Private Accounts
David Kamin, Jason Furman, Center on Budget and Policy Priorities, 5/3/2006
Careful analysis shows that private accounts are a dubious and overblown promise, for several reasons. 
Link to Report
Trustees Continue to Assume Slowing Immigration, Weak Productivity
Dean Baker, Center for Economic and Policy Research, 5/1/2006
Dean Baker argues that the trustees understate two factors with critical influence on Social Security's long-term solvency: productivity growth and immigration rates. 
Link to Issue Brief
Social Security's Financial Outlook: The 2006 Update in Perspective
Center for Retirement Research at Boston College, 5/1/2006
Putting the intermediate assumptions in this year's Social Security report in perspective. 
Link to Report (PDF)
Social Security Finances: Findings of the 2006 Trustees Report
Virginia Reno, Anita Cardwell, National Academy of Social Insurance, 5/1/2006
The findings of the 2006 trustees report of the National Academy of Social Insurance. 
Link to Issue Brief (PDF)
What The New Trustees’ Report Shows About Social Security
Robert Greenstein, Jason Furman, Center on Budget and Policy Priorities, 5/1/2006
Analysis of the projections and comparison of Social Security with other reasons for long-range deficits in the federal budget, specifically the 2001 and 2003 tax cuts. 
Link to Report
2006 OASDI Trustees Report
Social Security Administration, 5/1/2006
The annual report of the trustees of Social Security for 2006.  
Link to Report
Can We Afford Social Security When Baby Boomers Retire?
Virginia Reno, Joni Lavery, National Academy of Social Insurance, 5/1/2006
Perhaps the key question is not whether we can afford the population we will have. Rather, it is how Americans will choose to allocate national resources to accommodate an aging population. Many options exist to balance Social Security finances for baby boomers and those who follow. 
Link to Issue Brief (PDF)
Will The Administration Claim The Cost Of Fixing Social Security Rose $700 Billion Because Congress Did Not Act Last Year?
Richard Kogan, Robert Greenstein, Jason Furman, Center on Budget and Policy Priorities, 5/1/2006
President Bush and other Administration officials often repeat inaccurate claims about the costs of delaying action on Social Security.  
Link to Report
Reforming Social Security Sooner Rather Than Later: Fact and Fiction
Jason Furman, Center on Budget and Policy Priorities, 4/28/2006
Examines what the costs of delaying reform are, and why privatization plans of the sort proposed last year would do nothing to mitigate those costs, despite proponents' frequent claims. 
Link to Report
Social Security Administration Proposal to Revise Disability Determinations is Not Justified: African Americans Would Be Disproportionately Affected
Arloc Sherman, Eileen P. Sweeney, Center on Budget and Policy Priorities, 4/18/2006
The Social Security Administration (SSA) is proposing to change how it evaluates age as a factor in establishing eligibility for disability benefits.  
Link to Report
Future Retirement Income Security Needs Defined Budget Pensions
Tersea Ghilarducci, Center for American Progress, 3/1/2006
Are defined benefit (DB) pension plans dead? They certainly look dead. Now, retirement savings depend on workers’ ability to save regularly, invest wisely, and at low costs. 
Link to Report (PDF)
African Americans and Social Security: The Implications of Reform Proposals
Center on Budget and Policy Priorities, 1/18/2006
Proposals to scale back the traditional Social Security system and replace a portion of it with private accounts are unlikely to maintain the program's protections for African Americans to the same degree.  
Link to Report
The Impact of Immigration on Social Security and the National Economy
Social Security Administration, 12/1/2005
The number of immigrants entering the country affects the size of the working age population, the size of the labor force, the number of workers in OASDI covered employment, and thus the size and growth rate of GDP. 
Link to Issue Brief (PDF)
Sorting Out Social Security Replacement Rates
Mauricio Soto, Alicia Munnell, Center for Retirement Research at Boston College, 11/1/2005
For anyone interested in retirement income policy, the most basic question is how much are people receiving today from Social Security, the backbone of the nation's retirement income system. 
Link to Issue Brief
Why Do Women Claim Social Security Benefits So Early?
Center for Retirement Research at Boston College, 10/27/2005
While working longer and taking advantage of the actuarial increase in Social Security can be a boon to workers' projected retirements security, women, even more than men, tend to claim Social Security benefits as soon as they become available. 
Link to Issue Brief (PDF)
Social Security 70th Anniversary Survey Report
AARP, 8/11/2005
The latest assessment of Social Security by the American public continues to reflect the strong support that has also characterized assessments in 1985 and 1995. 
Link to Report (PDF)
Private Accounts Would Substantially Increase Federal Debt and Interest Payments
James Horney, Richard Kogan, Center on Budget and Policy Priorities, 8/2/2005
All of the major proposals to replace a portion of Social Security with private accounts would require large increases in federal borrowing for many decades.  
Link to Report (PDF)
The Impact of the President's Proposal on Social Security Solvency and the Budget
Jason Furman, Center on Budget and Policy Priorities, 7/22/2005
How the President's pending plan for Social Security, comprised of private accounts and sliding scale benefit reductions based on Robert Pozen's proposal, would affect the program's solvency and the federal budget.  
Link to Report
The Demint and McCrery Social Security Plans
Robert Greenstein, Jason Furman, Center on Budget and Policy Priorities, 7/20/2005
Under the DeMint and McCrery plans, Social Security’s current annual surpluses would be shifted to private accounts rather than used to purchase Treasury bonds for the Social Security Trust Fund.  
Link to Report (PDF)
Two Steps Back: African Americans and Latinos Will Lose Ground Under Social Security "Reform"
William E. Spriggs, Ross Eisenbrey, Economic Policy Institute, 7/14/2005
The United Airlines pension debacle, the president's Social Security proposal, and the coming debate about tax incentives for saving are all prompting a re-examination of U.S. retirement policies and programs. 
Link to Issue Brief
Looking in the wrong places
William E. Spriggs, Economic Policy Institute, 7/13/2005
According to President Bush, Social Security's long-term financial problems stem primarily from too many future beneficiaries receiving benefits that are too high for too long. The president proposes to solve the problem by lowering the share of income that Social Security insures for workers.  
Link to Report
Hispanics' large stake in the Social Security debate
Fernando Torres-Gil, Robert Greenstein, David Kamin, Center on Budget and Policy Priorities, 6/28/2005
Supporters of replacing part or all of Social Security with private accounts have argued that Hispanics receive relatively little for their payroll tax contributions to Social Security and would fare better under a system of private accounts. 
Link to Issue Brief
Many already lack a steady job before the Social Security retirement age
Elise Gould, Economic Policy Institute, 6/15/2005
In the Social Security debate, some policy makers have suggested raising the retirement age as a way to address the projected long-term gap in Social Security's finances. 
Link to Issue Brief
Chilean Pension Reform: the Good, the Bad, and the In Between
Mauricio Soto, Center for Retirement Research at Boston College, 6/3/2005
While Chile's adoption of private accounts has been a boon to that country's capital markets, coverage remains low and the future success of the system is uncertain. 
Link to Issue Brief (PDF)
Would Private Accounts Provide a Higher Rate of Return than Social Security?
Jason Furman, Center on Budget and Policy Priorities, 6/2/2005
Comparing returns on investment accounts with the benefits provided by Social Security is unsound and misleading. 
Link to the Report (PDF)
Social Security Price Indexing Proposal Means Benefit Cuts for Workers
William E. Spriggs, David Ratner, Economic Policy Institute, 6/1/2005
How progressive price indexing would affect different groups of workers by gender, race, location, and other factors. 
Link to Issue Brief
Mandatory Social Security Coverage of State and Local Workers: A perennial hot button
Alicia Munnell, Center for Retirement Research at Boston College, 6/1/2005
This Issue in Briefanalyzes the arguments for and against mandating Social Security coverage for newly hired state and local workers. 
Link to Issue Brief (PDF)
Productivity growth and Social Security's future
Economic Policy Institute, 5/11/2005
Although the share of the population in retirement will rise in coming decades, the U.S. economy can readily afford to maintain a strong Social Security program because productivity will rise faster than population. 
Link to Issue Brief
Are the Social Security Trust Funds Meaningful?
Alicia Munnell, Center for Retirement Research at Boston College, 5/1/2005
Currently the Social Security trust funds hold $1.7 trillion in special Treasury bonds. The question is whether this buildup of assets has been economically meaningful. 
Link to Issue Brief (PDF)
The Regressive Impact of the Progressive Indexation of Social Security Benefits
Dean Baker, Center for Economic and Policy Research, 5/1/2005
While this schedule of benefit cuts is supposed to be progressive, the calculations in this paper show that middle-income earners would see large and growing benefit cuts under this formula. 
Link to Issue Brief (PDF)
Social Security Rates of Return with “Progressive Indexation”
Dean Baker, David Rosnick, Center for Economic and Policy Research, 5/1/2005
This paper calculates rates of return for wage earners corresponding to the Social Security Administration’s definition of “low earners,” “medium earners,” “high earners,” and “maximum earners.” 
Link to Issue Brief (PDF)
Restore Tax Fairness for Social Security's Solvency
Christian Weller, Center for American Progress, 5/1/2005
Part of Social Security’s long-term financial shortfall stems from the fact that not all wages and salaries are subject to Social Security taxation. 
Link to Report (PDF)
Social Security Privatization: Abandoning Family Values
Christian Weller, Radha Chaurushiya, Center for American Progress, 4/27/2005
This half of the program, the people who received some form of family-based insurance benefits, is too often ignored in President Bush's push to privatize Social Security.  
Link to Report
Testimony on Social Security Reform
Peter R. Orszag, 4/26/2005
Peter Orszag, coauthor of Saving Social Security: A Balanced Approach, testifies before the Senate Finance Committee on privatization and Social Security's Future. 
Link to Testimony (PDF)
The Ryan-Sununu Social Security Plan
Robert Greenstein, Center on Budget and Policy Priorities, 4/26/2005
The plan’s finances rest entirely on the assumed transfer of extraordinary sums from the rest of the budget to Social Security. 
Link to Report
Why Progressive Price Indexing Could Lead to the Unraveling of Social Security
Jason Furman, Gene Sperling, Robert Greenstein, Center on Budget and Policy Priorities, 4/26/2005
It would be desirable to make the Social Security benefit structure somewhat more progressive. But when progressive price indexing is coupled with private accounts, the political risk escalates very substantially. 
Link to Report
"Progressive Price Indexing" of Social Security Benefits
Congressional Research Service, 4/22/2005
Analysis on the effects of progressive price indexing, a change in the way Social Security benefits are calculated that gradually reduces benefits over time for high and average wage workers, while leaving benefits for low-wage workers intact. 
Link to Report (PDF)
The Burden of Social Security Taxes and the Burden of Excessive Health Care Costs
Dean Baker, David Rosnick, Center for Economic and Policy Research, 4/7/2005
The inefficiency of the U.S. health care system has a large and growing impact on the living standards of U.S. workers, a greater impact than the possibility of higher Social Security taxes. 
Link to Issue Brief (PDF)
The Social Security Shortfall and the National Defense Shortfall
Dean Baker, Center for Economic and Policy Research, 4/5/2005
It is remarkable that politicians and commentators have devoted so much attention to the projected Social Security shortfall, while virtually ignoring the far larger expenses that are implied by maintaining the current U.S. defense policy. 
Link to Paper (PDF)
What is Progressive Price Indexing?
Alicia Munnell, Mauricio Soto, Center for Retirement Research at Boston College, 4/1/2005
Progressive price indexing has the advantage of protecting the benefits of low earning workers.  
Link to Report (PDF)
Social Security Privatization: The Mother of All Unfunded Mandates
Christian Weller, Center for American Progress, 4/1/2005
When Social Security benefits are too little to offer retirees a decent standard of living, governments will likely have to bail out a privatized Social Security system by increasing expenditures in other social programs. 
Link to Report (PDF)
The State of 50+ America 2005
AARP, 4/1/2005
Looking back over the last decade, our economic indicators show some signs of real improvement in the well-being of the total 50+ population, although progress, where it existed, was often slow or uneven. 
Link to Report (PDF)
Social Security: The Most Important Anti-Poverty Program for Children
Heather Boushey, Center for Economic and Policy Research, 3/28/2005
While Social Security is recognized as a vital anti-poverty program for the elderly, it is also the country’s most important anti-poverty program for the nation’s children. 
Link to Issue Brief (PDF)
The Life-Cycle Personal Accounts Proposal for Social Security: An Evaluation
Robert J. Shiller, National Bureau of Economic Relations, 3/25/2005
Despite recent assertions, a “life-cycle portfolio” feature in private Social Security accounts would do little to improve returns and mitigate risk. 
Link to Paper (PDF)
What the New Trustees' Report Shows About Social Security
Jason Furman, Robert Greenstein, Center on Budget and Policy Priorities, 3/24/2005
On March 23, the Social Security Board of Trustees released the 65th annual report on the program’s financial and actuarial status. The report projects that Social Security’s trust fund reserves will run out in 2041, one year earlier than last year’s projection.  
Link to Report
Asset Returns and Economic Growth
Paul Krugman, Dean Baker, J. Bradford DeLong, Center for Economic and Policy Research, National Bureau of Economic Relations, 3/24/2005
The key question in economic policy debates is whether historical rates of return—especially the 6.5% or so average real realized rate of return on equities—are likely to persist into the future. 
Link to Paper (PDF)
Weak Economy Moves Social Security Depletion Date Closer
Dean Baker, Center for Economic and Policy Research, 3/23/2005
Change in the 2005 trustees' report was driven almost entirely by the economy’s weaker than expected performance last year, as all the key long-term demographic and economic assumptions were left unchanged.  
Link to Report (PDF)
Big Deficit, Little Deficit: The Bush Budget and Social Security
Max B. Sawicky, Economic Policy Institute, 3/23/2005
Projections about Social Security finances in the future should be considered in the context of the federal budget as a whole, specifically, whether tax cuts enacted since 2000 are allowed to remain in place. 
Link to Report
Social Security and the Income of the Elderly
Michael P. Ettlinger, Jeff  Chapman, Economic Policy Institute, 3/23/2005
Although Social Security is an important insurance program for people of all ages, at any given point in time the largest single demographic group of recipients is those age 65 and over.  
Link to Issue Brief (PDF)
2005 OASDI Trustees Report
Social Security Administration, 3/23/2005
The annual report of the trustees of Social Security finds little changed in the program's financial outlook since the 2004 report. 
Link to Report
An Analysis of Using "Progressive Price Indexing" To Set Social Security Benefits
Jason Furman, Center on Budget and Policy Priorities, 3/21/2005
Analysis of a change to Social Security's benefit structure proposed by Robert Pozen.  
Link to Report
Collision Course: The Bush Budget and Social Security
Max B. Sawicky, Economic Policy Institute, 3/16/2005
The Bush Administration’s budget for fiscal year 2006 proposes the continuation of fiscal policies that undermine the federal government’s ability to perform traditional, basic functions, including its capacity to make good on obligations to Social Security and Medicare. 
Link to Issue Brief
Hispanics and the Social Security Debate
Richard Fry, Jeffrey Passel, Rakesh Kochhar, Roberto Suro, Pew Hispanic Center, 3/16/2005
The nature, extent and timing of any changes to Social Security would have specific and distinct consequences for the Hispanic population. 
Link to Report (PDF)
Children Get Social Security, Too
William E. Spriggs, Poverty & Race Research Action Council, 3/15/2005
The Social Security debate has focused almost exclusively on retirement issues. Neglected is the critical dimension of disability/survivor benefits and the importance of these to children and widows -- especially poor and minority families. 
Link to Issue Brief (PDF)
Defaulting on the Social Security Trust Fund: What It Would Mean, and How It Would Be Done
Dean Baker, Center for Economic and Policy Research, 3/9/2005
Since many politicians and political commentators seem to view a default on the government bonds held by the Social Security trust fund as a serious option, it is important that they gain a fuller understanding of the implications of such a default. 
Link to Issue Brief (PDF)
Privatization's Poor Return
Christian Weller, Center for American Progress, 3/4/2005
Much of the Social Security privatization debate focuses on the rate of return of private accounts.  
Link to Article
Social Security's Financial Outlook: The 2005 Update and a Look Back
Alicia Munnell, Center for Retirement Research at Boston College, 3/1/2005
The 2005 Trustees Report reconfirms what has been evident for two decades – namely, Social Security is facing a long–term financing shortfall. Changes in the underlying assumptions are unlikely to eliminate the problem. 
Link to Issue Brief (PDF)
Will Baby Boomers Drown in Debt?
Mauricio Soto, Center for Retirement Research at Boston College, 3/1/2005
Given the potential of debt to undermine the retirement security of an aging population, this Just the Facts examines trends in the debt burden for older workers over the past decade and assesses how vulnerable baby boomers may be in the future. 
Link to Report (PDF)
Social Security Finances: Findings of the 2005 Trustees Report
Anita Cardwell, Virginia Reno, National Academy of Social Insurance, 3/1/2005
Overview of the 2005 report from NASI. 
Link to Report (PDF)
Social Security Lifts 13 Million Seniors Above the Poverty Line: A State-By-State Analysis
Isaac Shapiro, Arloc Sherman, Center on Budget and Policy Priorities, 2/24/2005
Social Security benefits have a powerful poverty-preventing effect among the elderly. 
Link to Report
Long-Range Financial Effects of Several Provisions on Social Security's Solvency
Alice H. Wade, Chris Chaplain, Social Security Administration, 2/24/2005
Long-range estimates of the effects on trust fund solvency and operations of several provisions, from Social Security's chief actuary. 
Link to Report (PDF)
Removing the Social Security Earnings Cap Virtually Eliminates Funding Gap
Josh Bivens, Economic Policy Institute, 2/17/2005
SSA actuarial estimates show that eliminating the cap would virtually eliminate the projected 75-year funding shortfall. 
Link to Issue Brief
Sensible Funding Rules to Stabilize Pension Benefits
Christian Weller, Center for American Progress, 2/17/2005
Proposed changes to pension funding rules would likely make matters worse for beneficiaries, hastening the demise of pension plans. 
Link to Report
Social Security Privatization: The Retirement Savings Gamble
Christian Weller, Center for American Progress, 2/10/2005
These numbers show that privatization amounts to a retirement savings gamble, where the winnings are unevenly distributed. Some generations will do poorly, while others could do fine.  
Link to Report
Estimated Financial Effects of Pozen Reform Proposal
Social Security Administration, 2/10/2005
Official analysis of the financial effects of a plan including "progressive price indexing," as developed by Robert Pozen. 
Link to Report (PDF)
Proposed Social Security Price Indexing Would Slash Benefits
Amy Chasanov, Economic Policy Institute, 2/9/2005
Analysis of recent CRS data showing how benefits for today's retirees would have been cut if price-indexing had been used. 
Link to Report
Empty Promise: The Benefit to African American Men of Private Accounts Under President Bush's Social Security Plan
Dean Baker, Center for Economic and Policy Research, 2/9/2005
The plan proposed by President Bush will not offer most African American men the opportunity to pass on an inheritance, unless they have an independent source of wealth. 
Link to Issue Brief
Remember When? What We Can - and Can't - Learn From the Last Social Security Fight
Mark Schmitt, The American Prospect, 2/8/2005
Looking for lessons in the last political battle over Social Security, where a short-lived confrontation between Ronald Reagan and the Democratic Congress eventually produced the bipartisan Greenspan commission. 
Link to Article
President Tries to Have it Both Ways: Using Misleading Numbers About a Social Security Crisis While Advancing a Plan That Would Make Matters Worse
Jason Furman, Center on Budget and Policy Priorities, 2/7/2005
In his State of the Union Address, President Bush used misleading statistics to create a false sense of crisis about Social Security. 
Link to Report
An Overview of Issues Raised by the Administration's Social Security Plan
Jason Furman, Robert Greenstein, Center on Budget and Policy Priorities, 2/7/2005
White House officials acknowledge that private accounts themselves do nothing to restore solvency. 
Link to Report
How Large a Benefit Reduction Do You Need for the New Individual Accounts?
Center on Budget and Policy Priorities, 2/5/2005
The White House example makes it appear as though a much larger fraction (and dollar amount) of retirement income would continue to come from the traditional Social Security benefit than would actually be the case.  
Link to Memo (PDF)
How the Individual Accounts in the President's New Plan Would Work
Jason Furman, Center on Budget and Policy Priorities, 2/4/2005
The automatic benefit reduction in the President's plan would constitute a 100 percent tax on the retirement savings in those accounts.  
Link to Report
White House Press Secretary's Description of Administration's Private Accounts May Leave Misimpressions
Jason Furman, Center on Budget and Policy Priorities, 2/3/2005
Response to a White House effort to critique a Washington Post article which explained how much or all of the balances in private accounts would essentially have to be paid back to the government. 
Link to Report
Social Security Privatization's Motherhood Penalty
William E. Spriggs, Economic Policy Institute, 2/2/2005
Privatization solution proposed by the Cato Institute punishes women who take time-out early for child care or more education. 
Link to Report
African Americans and the Social Security Debate
Institute for America's Future, 2/2/2005
Fact sheet on the special importance of Social Security for African Americans. 
Link to Report(PDF)
Why Young Workers Should Care About Social Security
AFL-CIO, 2/2/2005
Short brief on the importance of the Social Security program to younger workers. 
Link (PDF)
Hearings: Long Term Outlook for Social Security
United States Senate Committee on Finance, 2/2/2005
Testimony before the Senate Finance Committee on Social Security's future. 
Link to Testimony
Social Security: Women, Children and the States
National Women's Law Center, 2/1/2005
The report highlights the impact of the cuts on widows, a group that is highly vulnerable to poverty in retirement, in a state-by-state analysis. 
Link to Report (PDF)
What Does Price Indexing Mean for Social Security Benefits?
Alicia Munnell, Mauricio Soto, Center for Retirement Research at Boston College, 2/1/2005
The mechanics of both wage and price indexing, the impact of shifting from wages to prices, and the philosophical difference. 
Link to Report (PDF)
Options to Balance Social Security Funds Over the Next 75 Years
John Lavery, Virginia Reno, National Academy of Social Insurance, 2/1/2005
Exploring different options for reducing the program's long-term shortfall. 
Link to Issue Brief (PDF)
Are Voters Paying Attention?
John Marttila, The American Prospect, 2/1/2005
Progressives surely have the tools to defeat the privatization campaign. What’s needed is the right strategy. 
Link to Article
Manufacturing a Crisis: The Neocon Attack on Social Security
L. Randall Wray, Levy Institute of Economics at Bard College, 2/1/2005
A look at the long-held conservative goal of phasing out the Social Security program. 
Link to Policy Note (PDF)
Updated Long-Term Projections for Social Security
Congressional Budget Office, 1/31/2005
Small revisions to projections released by the CBO in June 2004. 
Link to Report (PDF)
So-Called "Price Indexing" Proposal Would Result In Deep Reductions Over Time In Social Security Benefits
Robert Greenstein, Center on Budget and Policy Priorities, 1/28/2005
If initial benefits are indexed to prices instead of wages, Social Security benefits will shrink dramatically over time as a share of workers' pre-retirement wages. 
Link to Analysis
Estimated Effect of Price-Indexing Social Security Benefits on the Number of Americans 65 and Older in Poverty
Congressional Research Service, 1/28/2005
The effects that price indexing initial Social Security benefits from 1940 would have had on the number of Americans age 65 and older in poverty in 2003.  
Download in PDF format
Cross-Currents in Opinion About Private Accounts
Pew Research Center for the People and the Press, 1/27/2005
Drawing conclusions from the recent round of national surveys on Social Security. 
Link to Report
GOP Strategy Memo on Social Security