Social security reform: Lessons from private pensions

Widespread concerns about the long-term fiscal gap in Social Security have prompted various proposals for structural reform, with individual accounts as the centerpiece. Carving out individual accounts from the existing system would shift significant risks and responsibilities to individual workers. A parallel development has already occurred in the area of private pensions. Experience with 401 plans indicates that many workers will have difficulty making prudent decisions concerning investment and withdrawal of funds. Moreover, in implementing any system of voluntary individual accounts, it will be important to design default settings that provide appropriate guidance for workers with heterogeneous levels of financial sophistication and risk tolerance. The central goal of Social Security reform should be to close the fiscal gap in a way that preserves rather than undermines the existing system of mandatory defined benefits for all workers
Keywords No keywords specified (fix it)
Categories (categorize this paper)
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

Our Archive

Upload a copy of this paper     Check publisher's policy     Papers currently archived: 45,434
External links

Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library

References found in this work BETA

No references found.

Add more references

Citations of this work BETA

No citations found.

Add more citations

Similar books and articles

How Bad Is Rape?H. E. Baber - 1987 - Hypatia 2 (2):125-138.
The Hiddenness Argument Revisited.J. L. Schellenberg - 2005 - Religious Studies 41 (3):287-303.
Shifting Frames: From Divided to Distributed Psychologies of Scientific Agents.Peter J. Taylor - 1994 - PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1994:304-310.
The Contemporary Significance of Confucianism.Tang Yijie & Yan Xin - 2008 - Frontiers of Philosophy in China 3 (4):477-501.


Added to PP index

Total views
18 ( #497,023 of 2,280,329 )

Recent downloads (6 months)
5 ( #239,973 of 2,280,329 )

How can I increase my downloads?


My notes

Sign in to use this feature