This paper proposes a Social Security reform for the United States that gradually, but ultimately fully, privatizes the system. This proposal follows the “no-harm, no-foul” principle in that it preserves the benefits of older generations and yet promises the same or higher retirement...

The recently developed method of generational accounting facilitates detailed measurement of fiscal policy’s impact on the intergenerational distribution of resources. Earlier studies for the United States, using the Social Security Administration’s intermediate population projections,...