There's not a school business official in the country who isn't dealing with budget cuts and trying to do more with less. This article shares some proven strategies to help school districts reduce spending and address personnel issues associated with retirement plans. Because public education employers are exempt from the Employee Retirement…

Purpose: This study compared the official poverty rate for adults aged 65 years and older with alternative measures that portray the true resources and needs of older adults. Design and Methods: The analysis used data from the 2004 Health and Retirement Study on income, assets, in-kind transfers, and out-of-pocket medical expenses. It also…

Analysis and discussion of Social Security policy are usually based on expected fiscal and societal outcomes. However, future demographic and economic trends are uncertain, and thus ultimate outcomes for aggregate system financial flows and the distribution of taxes and benefits across generations are uncertain. This paper analyzes a…

Fefferman argues that mandatory Social Security coverage for teachers and other government employees assures their own pension protection and equalizes their contributions with their potential Social Security benefits. Brundige feels that teachers already have superior retirement plans and should not be forced to bail out the ailing Social…

Projected implications of population aging are based on a definition of retirement age as 65. This article discusses the concept of "equivalent retirement ages" as a method for determining appropriate age for normal retirement and points out usefulness and limitations of raising normal retirement age as a policy instrument. (BF)

Explores relationship between recent policy reforms, targeting proposals, and a universal Social Security program. Explores principles that inform Social Security, concluding that treating benefits as taxable income and raising retirement age push at boundaries of universality without violating fundamental precepts of social insurance program. (BF)

Concern over Social Security's forecasted long-run deficit is occurring at a time when the program has a short-term surplus. One proposed strategy to address this forecasted deficit is to allow the investment of a portion of payroll taxes into private savings accounts (PSAs). The author analyzes recent proposals for PSAs and concludes that PSAs…

Data from the Survey of Income and Program Participation were matched with longitudinal earnings histories and Social Security benefit data to estimate joint work and benefit receipt choices for people age 62 and older. The probability of working is shown to depend on worker characteristics and policy variables. (Author)

Social Security program has over the period become unsustainable from tax finance and imply reforms that would cut down on benefits of the elderly. The implications are that elderly may have to increase their post-retirement working, reduce consumption and opt for shared living rather than independent living conditions. The last of the three…

Private schools can "...provide much more attractive retirement benefits for the same cost by funding retirement plans outside Social Security. (Author)

Recent policy proposals have introduced need-based criteria, as well as the principle of wealthier older persons paying greater taxes or sharing more heavily in financing services and benefits than those who have less income and accumulated wealth. This article reviews emergence of new approaches and concludes with commentary on political…

A simulation of the effects of proposed changes in Social Security rules (elimination of the Retirement Earnings Test and an increase in the Delayed Retirement Credit) for men working after retirement age demonstrated a rise in long-run costs by $43 billion in taxes and an increase of only 3.5 percent in the supply of older workers. (Author/SK)

This paper presents an empirical analysis of the real internal rate of return to the old age insurance (OAI) portion of the old age, survivors, and disability insurance (OASDI) program for worker-only beneficiaries retiring between 1967 and 1970. Section I reviews the analytical background for this study. The issues concern alternative measures of…

This set of materials for high school students explains the Social Security system. It consists of five lessons and an overview lesson that may be taught separately. To support the lessons, a videotape, fact sheets, student handouts, and quizzes are included. Handouts are in large print and are suitable for use as black line masters for…

The impact of the tax-transfer system on the distribution of income among economic units is the subject of a number of studies by the Office of Research and Statistics of the Social Security Administration. One of the most important data sources for the work is the Census Bureau's March Current Population Survey (CPS). To conduct such studies, the…