Social security's financial outlook

Munnell, Alicia Haydock. “Social security's financial outlook”. Issue in Brief 13-8, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, June 2013. http://hdl.handle.net/2345/bc-ir:103845.
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Abstract

The brief's key findings are: (1) The 2013 Trustees Report shows virtually no change from last year: (1a) Social Security's deficit still about 2.7 percent of payroll. (1b) Deficit as a percent of GDP still less than 1 percent. (1c) Trust fund exhaustion still 2033, after which payroll taxes still cover about three quarters of promised benefits. (2) While the shortfall is manageable, it should be eliminated soon to: (2a) Restore confidence in the program. (2b) Avoid larger tax/benefit changes that would result from delay. (2c) More fairly distribute the burden across generations. (3) And the disability insurance program needs immediate attention, as its trust fund is expected to be exhausted in 2016.

Title
Social security's financial outlook: The 2013 update in perspective
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
June 2013
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
13-8
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:103845
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Social Security

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