Social Security Liabilities

Edward M. Gramlich

Review of Economic Dynamics, 1999, vol. 2, issue 3, pages 489-497

Abstract: This paper reviews the long-term financial problems facing the U.S. Social Security system. Not only is the system out of long-term actuarial balance, but implicit rates of return on worker contributions are low and dropping. The paper discusses different approaches for dealing with the twin problems suggested by the 1994-1996 Advisory Council on Social Security, ending with a case for a middle-of-the-road approach featuring modest long-term benefit cuts and small, centrally managed, add-on individual accounts. (Copyright: Elsevier)

JEL-codes: H55 (search for similar items in EconPapers)
Date: 1999

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