Appraisal of alternative ways to fix social security
Article Abstract:
The changing characteristics of the US population is complicating current moves to reform the Social Security system. Difficulties in fixing the system are further complicated by the need to consider peculiarities such as universal coverage, inflation protection and on means testing. The characteristics of the present Social Security system, coupled with changing demographics, makes it more likely that any changes would also affect other government programs. Meanwhile, the Social Security Advisory Council's suggestion of a Personal Security Account format is seen by some as the most effective approach for a reformed system.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1997
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Maintaining social security
Article Abstract:
The Social Security Advisory Council's proposals for the reform of the US Social Security system reflects society's values and aims for the greater public good. The Advisory Council advocates three approaches to reform, namely: the Maintain Benefits Plan; the Publicly Held Individual Accounts Plan; and the Two-Tiered System with Privately Held Individual Accounts Plan. While all approaches may offer advantages and disadvantages, the Maintain Benefits plan is the only one that is seen to bolster the fundamentals of the Social Security system.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1997
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Brobdingnagian tax rates under the Social Security earnings test
Article Abstract:
In the US Social Security system, beneficiarieswho work again or continue to work may have their regular payments lessened. This benefit reduction scheme, called the earnings test or the retirement test,increases the implicit marginal tax rate. This happens during the grace year which is the initial calendar year an employee receives Social Security benefits. Problems on increased marginal tax rates can be solved through betterinformation dissemination.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1992
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