Social Security's financial outlook

Munnell, Alicia Haydock. “Social Security's financial outlook”. Issue in Brief 23-9, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, April 2023. http://hdl.handle.net/2345/bc-ir:109763.
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Abstract

The brief's key findings are: (1) The 2023 Trustees Report showed a slight increase in the 75-year deficit and the depletion of the retirement trust fund moved up to 2033. (2) The prospect of a 23-percent benefit cut only 10 years away should focus our attention on restoring balance to the program. (3) The "Missing Trust Fund," a result of paying excess benefits to early generations, provides a strong case for some general revenue financing. (4) Workers would contribute the amount required in a funded system, and general revenues would compensate for the "Missing Interest." (5) Thus, the historical burden would be distributed more broadly, but the sense that workers pay for their own benefits would remain.

Title
Social Security's financial outlook: The 2023 update in perspective
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
April 2023
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
23-9
Persistent Link
http://hdl.handle.net/2345/bc-ir:109763
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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