Social Security: What Happens to Future Benefit Levels Under Various Reform Options (CRS Report for Congress)
Premium Purchase PDF for $24.95 (80 pages)
add to cart or
subscribe for unlimited access
Pro Premium subscribers have free access to our full library of CRS reports.
Subscribe today, or
request a demo to learn more.
| Release Date |
Aug. 20, 2001 |
| Report Number |
RL31086 |
| Report Type |
Report |
| Authors |
David Koitz, Geoffrey Kollman, and Dawn Nuschler, Domestic Social Policy Division. |
| Source Agency |
Congressional Research Service |
Summary:
The report first examines several benefit-constraint options. Among them are raising the age at which full Social Security retirement benefits can be received, changing the way initial benefits are computed, and constraining cost-of-living adjustments (COLAs). It also illustrates the effects of creating new personal savings accounts and presents their projected impact as a supplement to, or partial replacement of, the existing system, or as a means to close the gap between the benefit levels promised by the existing system and what can be paid under its projected future income. Finally, because across-the-board cuts may be seen as too severe for several types of recipients, other options that would ameliorate their effects, including one that would raise revenue, are also illustrated.
