August 16, 2005
Recent Publications on Retirement Security Policy
From the Brookings Institution:
Saving Social Security
A Balanced Approach, Revised Edition
Peter A. Diamond and Peter R. Orszag
Brookings Institution Press 2005
Trade Paper, 0-8157-1837-3, $22.95
Peter A. Diamond and Peter R. Orszag, two of the nation's foremost economists, propose a reform plan that would rescue the program both from its projected financial problems and from those who would destroy the program in order to save it.
Since the publication of the first edition of this book in 2004, the Social Security debate has moved to the center of the domestic policy agenda. In this updated edition of Saving Social Security, the authors analyze the Bush Administration's proposal for individual accounts and discuss the so-called "price indexing" proposal to restore long-term solvency through changing how initial benefits would be calculated.
The Evolving Pension System
Trends, Effects, and Proposals for Reform
William G. Gale, John B. Shoven, and Mark J. Warshawsky
Brookings Institution Press 2005
Cloth Text, 0-8157-3118-3, $59.95
Paper Text, 0-8157-3117-5, $26.95
The Evolving Pension System examines the foundations and the future of the private pension system. It provides a broad overview of the underlying assumptions, characteristics, and effects of existing pension policy, as well as alternative views on how public policy toward pensions should evolve in the future.
From the National Academy of Social Insurance:
Paying Benefits From Individual Accounts in Federal Retirement Policy
Kenneth S. Apfel and Michael J. Graetz, co-chairs
National Academy of Social Insurance 2005
Paper Text, 1-884902-42-1, $29.95
In Uncharted Waters, a panel of recognized experts created a framework for determining how benefits might be paid if private accounts become a new part of the Social Security system or are created separate from Social Security. This important volume analyzes the potential implications of different policy choices. It considers the ramifications of payout rules for families at different stages of life, particularly for economically disadvantaged groups. The contributors also address how any new individual account program would fit with traditional Social Security, employer-based pensions, and tax-advantaged individual retirement savings (401(k)s and IRAs).
In Search of Retirement Security
The Changing Mix of Social Insurance, Employee Benefits, and Individual Responsibility
Teresa Ghilarducci, Van Doorn Ooms, John L. Palmer, and Catherine Hill, eds.
The Century Foundation Press and the National Academy of Social Insurance 2005
Paper Text, 0-87078-490-0, $15.95
Since World War II, Social Security and employer-based pension plans have become the foundations of an economic security that enables older Americans to retire with dignity and financial independence. Social insurance and tax advantaged retirement benefits currently face a number of challenges, however. The upcoming retirement of the baby boomers will swell the ranks of the retired, which are estimated to double by 2020, straining the Social Security and Medicare programs. Employers are struggling to keep their pension funds afloat, while fewer and fewer companies are offering traditional pension plans. Americans are living longer than ever before, which means they draw benefits longer, taxing the system.
In Search of Retirement Security considers these challenges and provides fresh perspectives on the changing responsibilities of individuals, employers, and government in ensuring the continued dignity and independence of retirees.
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