The 2011 Trustees Report for the Social Security system – unlike that for the Medicare program – contains no surprises, which may explain the relative lack of attention it has received in the press. Despite reduced revenues and increased benefit claims in the short run, the system continues...

One of the major challenges facing Americans today is how to prepare for a secure retirement. While market ups and downs are unpredictable, peole do have control over work and saving decisions that can significantly improve their retirement prospects. This brief uses a simple model to estimate...

States have begun to respond to their pension challenge by enacting a mix of revenue increases and benefit cuts. These changes will, over time, improve the financial outlook for plans and help ease their impact on other budget priorities. But, to date, the specific nature and magnitude of these...

This paper seeks to determine the impact of the changing lives of women – increased labor force participation/earnings and reduced marriage rates – on Social Security replacement rates. First, our estimates, based on the Health and Retirement Study and Modeling Income in the Near Term, show...

That older people will need to work longer in order to ensure a secure retirement is undeniable. Social Security, the backbone of the retirement system, will not replace as much pre-retirement income in the future as it does today. Employer-sponsored pensions also involve considerably more...

The policy option of extending mandatory Social Security coverage to newly hired uncovered state and local workers is often included in packages to eliminate the program’s financing shortfall. The arguments for mandatory coverage go beyond financial considerations, though, as extending...

The National Retirement Risk Index (NRRI) measures the share of working-age households who are “at risk” of being unable to maintain their pre-retirement standard of living in retirement. The Index is calculated by comparing households’ projected replacement rates – retirement income as...

The brief’s key findings are: The brief’s key findings are: *Some state and local governments issue Pension Obligation Bonds (POBs) to cover their required pension contributions. *POBs offer budget relief and potential cost savings, but also carry significant risk. *POBs had a negative...

Social Security was designed to replace income once people could no longer work. In the 1930s, the retirement age was set at 65, which coincided with the age used by many private and public pension plans. In the late 1950s and early 1960s, Congress changed the law to enable workers to claim...