 THE SIGNIFICANCE AND USE OF LONG‐RANGE ACTUARIAL COST ESTIMATES FOR THE SOCIAL SECURITY SYSTEMRobert J. Myers Contemporary Economic Policy, 1983, vol. 1, issue 3, 9-15 Abstract: This paper describes the methodology underlying the actuarial cost estimates for the Social Security program and the assumptions needed therefor. With this as a background, the use to which these estimates is made in developing legislation is described, with emphasis on the current financing problems. Finally, various possible solutions to these problems are discussed. These solutions involve either increasing the income of the program or decreasing the rate of growth of its outgo. Increased income could be derived by increasing the payroll tax rates, by injecting general revenues (either directly or indirectly, such as taxing Social Security benefits and putting the proceeds in the trust funds or financing part of all of the Hospital Insurance program from general revenues and moving some of its payroll tax rate to the cash‐benefits program), or by covering government employees who are not now covered. The growth of outgo could be reduced by changes in the cost‐of‐living adjustments of benefits, by gradually increasing the normal retirement age, or by gradually decreasing the relative benefit level Date: 1983 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:coecpo:v:1:y:1983:i:3:p:9-15 Ordering information: This journal article can be ordered from Access Statistics for this article Contemporary Economic Policy is currently edited by Brad R. Humphreys More articles in Contemporary Economic Policy from Western Economic Association International Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.