This lecture discusses the economic losses that result from an unfunded social security
retirement system and the potential gain from shifting to a funded system. The social security …

There is now substantial experience around the world with partial or complete shifts from
government pension systems to private funded plans. Although there are important common …

Governments around the world have enacted or are currently considering fundamental
structural reforms of their Social Security pension programs. The key feature in these reforms …

The largest entitlement program in the United States today is the social security program.
Social security benefits payments in 1993 amounted to $267.8 billion, which is over 18 …

UNDER CURRENT LEGISLATION, the US social security system has a long-run financial
problem. The intermediate (central) projection of the Office of the Actuary of the Social …

The observations and opinions expressed here are the author's personal views and cannot
be assumed to be those of any Government agency. Without implicating them in any errors …

This is the introduction to and summary of Phase III of an international research project to
study the relationship between social security provisions and retirement. The project relies …

Social security retirement benefits distort the saving decisions of workers who are rational
enough to save for their future. Since the implicit rate of return in an unfunded social security …

Will the Social Security system founder as millions of baby boomers enter their retirement
years? Is the frightening vision of an impoverished old age a glimpse into the real future for …

A funded social security retirement program would imply a larger capital stock and a higher
level of real income than an unfunded program that provides the same level of benefits. The …