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Social Security

Thursday, October 20, 2011

Social Security Privatization: What the Candidates Can Learn from Central Europe and Latin America

Elaine Fultz, Former director of the International Labor Organization office for Russia, Eastern Europe, and Central Asia*

In recent weeks, all but one of the Republican Presidential candidates (Jon Huntsman) have made comments favoring privatization of social security, that is, its replacement or partial replacement with privately managed individual investment accounts.  This was the approach advocated by President George W. Bush, unsuccessfully, after his reelection in 2004. The candidates’ renewed interest in social security privatization is striking given the recent volatility of financial markets and the losses that Americans have incurred in their 401(k) and other private investment accounts.  It is perhaps even more striking given the large body of analysis showing that privatization would disadvantage low- income workers while benefitting the wealthiest Americans. This was, for example, a key finding of the U.S.

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Posted on October 20, 2011  |  1 comment  |  Add your comment
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Friday, August 10, 2018

Future Leaders Discuss Solutions to the Social Security Financing Gap

Bethany Cole, 2018 Rashi Fein Intern in Health Policy and Griffin Murphy, 2018 Merton C. Bernstein Intern on Social Insurance

 

On Wednesday, August 1, dozens of summer interns and young professionals gathered at the 2018 Summer Social Security Academy in Washington, DC to engage in thoughtful discussion about the features and future of Social Security. Guided by actuaries from the Social Security Administration (SSA), participants explored policy options to address the adequacy of benefits and achieve long-term financial balance. For attendees, it was a brief glimpse into the frequent discussions that take place on Capitol Hill and in policy circles around the country.

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Posted on August 10, 2018  |  1 comment  |  Add your comment
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Wednesday, May 24, 2017

Disability Protection IS Part of Social Security.

William Arnone, CEO, National Academy of Social Insurance

Benjamin Veghte, Vice President for Policy, National Academy of Social Insurance

During the 2016 campaign, President Trump promised not to cut Social Security. Yet the White House’s FY 2018 Budget proposes up to $64 billion in cuts to Social Security Disability Insurance (SSDI) expenditures. The cuts stem mostly from measures to “test new program rules and processes and require mandatory participation by program applicants and beneficiaries,” with the objective of moving disabled beneficiaries from the SSDI program into fuller labor market participation.

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Thursday, March 30, 2017

Individual Retirement Accounts: A Global Perspective

Elaine Fultz, International Labor Organization (Retired)

A decade ago when Congress debated President George W. Bush’s proposal for partial privatization of Social Security, U.S. pension analysts scrutinized the experience of countries that had replaced, or partially replaced, social insurance with privately managed investment accounts, seeking lessons for the United States. In the years since Congress rejected the Bush proposal, U.S. analysts have focused less on these foreign systems. Yet they continue to offer rich insights into the challenges of ensuring retirement security through individual accounts.

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Posted on March 30, 2017  |  4 comments  |  Add your comment
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Friday, February 3, 2017

Policy Perspectives with Founding Academy Members: Podcast with Lawrence H. Thompson

What issue did Bob Ball say we couldn’t win and therefore wanted off of the front page? Who said “every good principle can be carried too far?” Find out in the third in a series of podcast interviews, when Academy CEO William Arnone sits with Founding Member Larry Thompson. Thompson is a former U.S. government official and former Senior Fellow at the Urban Institute in Washington, DC. Listen now.

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Posted on February 3, 2017  |  Write the first comment
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