Social Security’s financial outlook

Munnell, Alicia Haydock. “Social Security’s financial outlook”. Issue in Brief 15-12, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, July 2015. http://hdl.handle.net/2345/bc-ir:104561.
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Abstract

The brief's key findings are: (1) The 2015 Trustees Report shows little change from last year: (a) Social Security's 75-year deficit declined modestly from 2.88 percent to 2.68 percent of payroll. (b) The deficit as a percent of GDP remains at about 1 percent. (c) Trust fund exhaustion moved back slightly from 2033 to 2034, after which payroll taxes still cover about three quarters of promised benefits. (2) The shortfall is manageable, but action should be taken soon to restore confidence in the program and give people time to adjust to needed changes. (3) In addition, the disability insurance program needs immediate attention, as its trust fund is expected to be exhausted next year.

Title
Social Security’s financial outlook: The 2015 update in perspective
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
July 2015
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
15-12
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104561
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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