February 25, 2005

    A policy seminar on Friday, February 25, 2005

    With Social Security experts:

    • Lawrence H. Thompson, Senior Fellow at The Urban Institute, on “Framing the Social Security Debate”
    • Virginia P. Reno, NASI’s Vice President of Income Security, talking about the new NASI Brief, Options to Balance Social Security Funds Over the Next 75 Years

    And commentary from two experts who staffed key Congressional policymakers during the 1983 Amendments to Social Security when solvency options were central to the debate:

    • Joseph R. Humphreys, now Staff Director of the Social Security Advisory Board
    • Janice M. Gregory, now Senior Vice President of the ERISA Industry Committee

    Moderated by: Bob Rosenblatt, Freelance Journalist

    Over the next decade, Social Security is in excellent financial shape; it is running surpluses while the rest of the federal government is running deficits. If the Trustees’ “best estimates” for the next 75 years hold true, Social Security funds will fall short of benefit costs in about 2042. Whether or not private accounts become part of Social Security, policymakers will have to restore solvency to the program.

    This seminar will explore a variety of changes that eliminate all or part of the shortfall. Experts will discuss revenue increases and benefit cuts measures which alone could erase the deficit, like removing the cap on wages subject to Social Security taxes or price-indexing the benefit formula. They will also address the many combinations of modest changes that would remedy the projected long-term shortfall for 75 years and beyond.

    Discussants will relate experiences in sorting through options with the Social Security Advisory Board as well as comparing the current debate over solvency options to that of the 1983 Amendments to Social Security.

    Come prepared to hear the facts about this issue, and to ask questions and share your views on the decisions ahead.

    Space is limited.

    All attendees will receive a copy of the new NASI Brief: Options to Balance Social Security Funds Over the Next 75 Years.

    NASI is a nonprofit, nonpartisan organization comprised of the nation’s experts on Social Security and related programs. Its mission is to promote understanding and informed policymaking on social insurance through research, public education, training, and the open exchange of ideas. The costs of this event are underwritten by a grant from The Ford Foundation.

    Please mark your calendars in advance for future Friday morning Social Security Seminars on March 11, March 25, April 15, April 29, and May 13, featuring such topics as:

    • Is Social Security Affordable? Sharing Economic Gains
    • Paying Disability and Life Insurance through Individual Accounts: Policy Issues and Options
    • Tapping Accounts at Retirement: How Do Annuities Work?
    • Taking Care of Spouses: Annuity Choices for Married Couples
    • Who Would Provide, Regulate, and Guaranty Solvency of Annuity Providers?
    • Social Security Disability and Survivor Benefits for Soldiers and Contract Workers.