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Wednesday, January 4, 2017

What does a “post-truth” era mean for the Academy?

William J. Arnone, Chief Executive Officer, National Academy of Social Insurance

“Whenever the people are well-informed, they can be trusted with their own government.”
- Thomas Jefferson 

With much fanfare, the Oxford Dictionaries announced that the new word for 2016 was “post-truth.” The Dictionary defines “post-truth” as “relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief.”

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Posted on January 4, 2017  |  Write the first comment
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Friday, December 23, 2016

Policy Perspectives with Founding Academy Members: Podcast with Nancy Altman

In the first of a series of podcast interviews, National Academy of Social Insurance CEO William Arnone interviews Founding Member Nancy Altman about the early days of the Academy. Altman is co-director of Social Security Works and author of The Battle for Social Security: From FDR’s Vision to Bush’s Gamble (John Wiley & Sons, 2005). Listen now

 

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Posted on December 23, 2016  |  Write the first comment
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Friday, November 18, 2016

Reflections on the Election and What it Means for Social Insurance and the United States

William J. Arnone, National Academy of Social Insurance

What does the outcome of last Tuesday’s election mean for the future of social insurance in the United States?

Although the core elements of our nation’s social insurance structure – Social Security, Medicare, Workers’ Compensation, and Unemployment Insurance – were given little attention during the debates, a new Administration and Congress will no doubt take a hard look at the strengths, weaknesses, threats, and opportunities confronting these essential programs. Vital protections provided by other key programs within the scope of the National Academy of Social Insurance – such as Medicaid, Supplemental Security Income, and especially the Affordable Care Act – are facing serious challenges.

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Posted on November 18, 2016  |  Write the first comment
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Monday, October 17, 2016

What You Need to Know about Social Security’s 2017 Cost-of-Living Adjustment

 

Tomorrow's announcement by the Social Security Administration about the cost-of-living adjustment (COLA) for Social Security benefits, effective January 2017, is likely to be met with questioning and concerns by many current beneficiaries, particularly in an election year and after no COLA was received in 2016. (That marked only the third year without a COLA in four decades.)

Social Security’s annual COLA is intended to protect the purchasing power of benefits against erosion by price inflation. It is important to many beneficiaries that benefits keep up with the cost of living, because other sources of income typically decline with age. As individuals grow older, their pensions are eroded by inflation, employment options end, spouses cope with widowhood, and savings are depleted - and they rely even more on Social Security.

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Friday, August 26, 2016

A Longevity Insurance Benefit for Social Security: An Innovation from the Past

John Turner, Pension Policy Center

In the United States, poverty rates for seniors increase at older ages.  The rates are higher for persons age 75 and older than for persons age 65 to 74.   Poverty rates increase at older ages because relatively more people fall into poverty as they age than exit poverty due to death. Persons who live longer may fall into poverty because of various life events -- their spouse dies, they have higher medical or long-term care expenses than expected, or their investment returns are worse than projected. As Americans live longer, they face an increased risk of outliving their savings.

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Posted on August 26, 2016  |  Write the first comment
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