Social Security Reform : Proposals for Change

This policy proposal was prepared for the 42nd Annual Retirement & Benefits Management Conference. Specifically, this paper was submitted for the seminar's annual essay competition. This essay was the winning essay on this topic. The submission was limited to this length. The conference-assigned topic was:The viability of the US Social Security system is significantly impacted by the improving life expectancy of the population. This means that a greater number of recipients will in receipt of benefits and, potentially, fewer active employees providing the contributions necessary to pay for those benefits. In the light of these dilemmas, what public or private options should be considered to address the issues? You should include both ends of the equation (e.g. benefit adjustment and revenue generation.)This article argues for a balanced approach to Social Security Reform based on tax increases, benefit cuts, and Social Security Trust investment changes and a return of the Social Security program to its original mission of providing "adequate provision" for its beneficiaries