Stabilizing Social Security for the Long-Term

Valorie Checque, Larry E. Nolph and Brian R. Patt

Chapter Chapter 9 in Decision Making with the Analytic Network Process, 2006, pp 173-192 from Springer

Abstract: 7. Conclusion Among the major factors influencing the results are: Approximately 90% of all wages were subject to Social Security withholding in 1980; by 2004, that percentage had slipped to 85%. In 1935, Social Security was designed to support older Americans who were dependent and beyond their productive period, originally calculated to begin at age 65, when men had an average of 12 years ahead of them. Today, a 65-year-old man can expect to live for 17 more years (women, 20) — 5 years longer than original budget estimates. A system designed for men with 12 years ahead of them today would set the retirement age between 70 and 75 Given the relative scores under the additive model and the sensitivity analysis, the Raise the Ceiling and Raise the Retirement Age alternatives are almost identical in every respect, leaving each or a combination of the two as the optimal alternatives.

Keywords: Social Security; Analytic Hierarchy Process; Wall Street Journal; Analytic Network Process; Media Outlet (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/0-387-33987-6_9

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