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Reforming Social Security with Progressive Personal Accounts
Geanakoplos, John - 2010
The heated debate about how to reform Social Security has come to a standstill because the view of most Democrats (that Social Security must be a defined benefits plan similar in spirit to the current system) seems irreconcilable with the proposals supported by many Republicans (to create a...
Persistent link: https://www.econbiz.de/10012759329
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Trends in Male Labor Force Participation and Retirement : Some Evidence on the Role of Pensions and Social Security in the 1970'S and 1980'S
Anderson, Patricia M.; Gustman, Alan L.; Steinmeier, … - 2021
This paper estimates the effects on steady state retirement by men of changes in pension" plans and social security in the 1970's and 1980's. Work incentives associated with pension" coverage and plan characteristics are calculated primarily from the 1969-79 Retirement History" Study and the...
Persistent link: https://www.econbiz.de/10013221842
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Maintaining Social Security Benefits and Tax Rates Through Personal Retirement Accounts : An Update Based on the 1998 Social Security Trustees Report
Feldstein, Martin S.; Samwick, Andrew A. - 2022
A program of Personal Retirement Accounts (PRAs) funded by deposits equal to 2.3 percent of earnings (up to the Social Security maximum) would permit retirees to receive more income in retirement than with the current Social Security program while at the same time making it unnecessary to...
Persistent link: https://www.econbiz.de/10013321591
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Old Europe Ages : Reforms and Reform Backlashes
Börsch-Supan, Axel H. - 2010
focuses on three large Continental European countries: France, Germany, and Italy. These countries have large pay …
Persistent link: https://www.econbiz.de/10013147613
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Notional Defined Contribution Pension Systems in a Stochastic Context : Design and Stability
Auerbach, Alan J. - 2010
Around the world, Pay-As-You-Go (PAYGO) public pension programs face serious long-term fiscal problems due primarily to actual and projected population aging, and most appear unsustainable as currently structured. Some have proposed the replacement of such plans with systems of fully funded...
Persistent link: https://www.econbiz.de/10012760480
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Individual Risk in an Investment-Based Social Security System
Feldstein, Martin S.; Ranguelova, Elena - 2022
This paper examines the risk aspects of an investment-based defined contribution Social Security plan. We focus on the risk after the plan is fully phased in. Individuals deposit a fraction of wages to a Personal Retirement Account (PRA), invest these funds in a 60:40 equity-debt mix, and in a...
Persistent link: https://www.econbiz.de/10014138416
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Fertility and Social Security
Boldrin, Michele; De Nardi, Mariacristina; Jones, Larry - 2021
The data show that an increase in government provided old-age pensions is strongly correlated with a reduction in fertility. What type of model is consistent with this finding? We explore this question using two models of fertility, the one by Barro and Becker (1989), and the one inspired by...
Persistent link: https://www.econbiz.de/10013223341
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Redistributive Effects of Different Pension Systems When Longevity Varies by Socioeconomic Status
Sánchez-Romero, Miguel - 2019
individuals face ex ante differences in mortality. Differences in life expectancy between high and low socioeconomic groups are … often large and have widened recently in many countries. Such longevity gaps affect the actuarial fairness and progressivity … of public pension systems. However, behavioral responses to longevity and policy complicate analysis of possible reforms …
Persistent link: https://www.econbiz.de/10012868200
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Redistributive Effects of Different Pension Systems When Longevity Varies by Socioeconomic Status
Sánchez-Romero, Miguel - 2019
individuals face ex ante differences in mortality. Differences in life expectancy between high and low socioeconomic groups are … often large and have widened recently in many countries. Such longevity gaps affect the actuarial fairness and progressivity … of public pension systems. However, behavioral responses to longevity and policy complicate analysis of possible reforms …
Persistent link: https://www.econbiz.de/10012868359
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Why a Funded Pension System is Useful and Why it is Not Useful
Sinn, Hans-Werner - 2021
Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothing to be gained from a transition to funded system even though the latter offers a permanently higher rate of return. The sum of the...
Persistent link: https://www.econbiz.de/10013210645