Monday, October 27, 2008

TOC: Vol 68 No. 2 Social Security Bulletin

Alternate Measures of Replacement Rates for Social Security Benefits and Retirement Income
by Andrew G. Biggs and Glenn R. Springstead

Replacement rates are common and useful tools used by individuals and policy analysts to plan for retirement and assess the sufficiency of Social Security benefits and overall retirement income. Because the calculation and meaning of replacement rates differs depending on the definition of preretirement earnings, this article examines four alternative measures: final preretirement earnings, constant income payable from the present value of lifetime earnings (PV payment), wage-indexed average of lifetime earnings, and inflation-adjusted average of lifetime earnings (CPI average). The article also calculates replacement rates for Social Security beneficiaries aged 64–66 in 2005.

PDF.
Social Security Beneficiaries Affected by the Windfall Elimination Provision in 2006
by Barbara A. Lingg

The Windfall Elimination Provision (WEP) is a method of computing benefits for some workers who receive a pension based on non-Social Security covered work. At the end of 2006, about 970,000 beneficiaries, mainly retired workers, were affected by the WEP. This article provides a brief legislative history, describes the WEP computation, and presents statistical data about beneficiaries affected by the WEP.

HTML. PDF.
An Overview of the Railroad Retirement Program
by Kevin Whitman

The Railroad Retirement program was established in the 1930s. It provides retirement, survivor, unemployment, and sickness benefits to individuals who have spent a substantial portion of their career in railroad employment, as well as to these workers' families. This article describes the history, benefit structure, and funding of the Railroad Retirement program.

HTML. PDF.
The Canadian Safety Net for the Elderly
by Michael Wiseman and Martynas Yčas

Canada's Public Pensions System is widely applauded for reducing poverty among the elderly. This article reviews benefits provided to Canada's older people and compares the Canadian system to the U.S. Supplemental Security Income program. Although Canada's system would probably be judged prohibitively expensive for the United States, the authors argue that there are nevertheless lessons to be learned from the Canadian experience.

HTML. PDF.
Chile's Next Generation Pension Reform
by Barbara E. Kritzer

Since its inception in 1981, Chile's system of mandatory individual retirement accounts has become a model for pension reformers around the world. A March 2008 comprehensive pension reform law made major changes that address some key policy challenges including worker coverage, gender equity, pension adequacy, and administrative fees. The cornerstone of the new law sets up a basic universal pension as a supplement to the individual accounts system.

Access full bulletin:  http://www.ssa.gov/policy/docs/ssb/v68n2/index.html

http://lawprofessors.typepad.com/elder_law/2008/10/toc-vol-68-no-2.html

Social Security | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef010535bc3e81970b

Listed below are links to weblogs that reference TOC: Vol 68 No. 2 Social Security Bulletin: