Social Security's financial outlook

Munnell, Alicia Haydock. “Social Security's financial outlook”. Issue in Brief 17-13, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, July 2017. http://hdl.handle.net/2345/bc-ir:107537.
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Abstract

The brief's key findings are: (1) The 2017 Trustees Report shows very little change: (a) Social Security's 75-year deficit rose slightly from 2.66 percent to 2.83 percent of payroll. (b) The deficit as a percentage of GDP remains at 0.9 percent. (c) Trust fund exhaustion is still 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 equitably share the burden among cohorts, restore public confidence, and give people time to adjust. (3) Proposed solutions range from "all benefit cuts" to "all tax increases." For action to occur, policymakers need guidance from the public on the desired mix.

Title
Social Security's financial outlook: The 2017 update in perspective
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
July 2017
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
17-13
Persistent Link
http://hdl.handle.net/2345/bc-ir:107537
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
Financing Retirement

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