Practical Applications of Social Security Costs in the Larger Context of Retirement Savings

Abstract

In Social Security Costs in the Larger Context of Retirement Savings, Sylvester Schieber , the former Chairman of the Social Security Advisory Board , addresses the current economics of Social Security. He carefully examines the historical record and suggests possible solutions to the funding problem—includingen couraging people to work longer and looking to other countries for useful alternative strategies.

In this report, Schieber tells us it is more difficult to save for retirement today—even through the government’s mandated program—because people are paying in more and taking less away.

The article provides aclear historic and data-centric view of the issues and will be helpful to pension fund managers, individuals and civil servants who are engaged in the discussion of retirement in the context of government insurance programs.