Social Security's financial outlook

Munnell, Alicia Haydock. “Social Security's financial outlook”. Issue in Brief 19-8, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, May 2019. http://hdl.handle.net/2345/bc-ir:108491.
PREVIEW Datastream
PDF

Abstract

The brief's key findings are: (1) Contrary to media reports, the 2019 Trustees Report shows little change overall: (a) Social Security's 75-year deficit ticked down from 2.84 percent to 2.78 percent of payroll. (b) Trust fund exhaustion moved out by one year, to 2035, after which payroll taxes still cover about three quarters of promised benefits. (2) This 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) The Report did include one noteworthy change: a big improvement in the financial outlook for the Disability Insurance program.

Title
Social Security's financial outlook: the 2019 update in perspective
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
May 2019
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
19-8
Persistent Link
http://hdl.handle.net/2345/bc-ir:108491
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

My Bookmarks

Bookmarks: