Skip to main content Accessibility help
×
  • Cited by 9
Publisher:
Cambridge University Press
Online publication date:
July 2010
Print publication year:
1999
Online ISBN:
9780511549298

Book description

A serious consideration of the debate on social security reform that is taking place in many countries around the world. Professor Seidman advocates the concept of 'funded social security' as a middle position between pay-as-you-go (PAYGO) social security and privatized social security, and constitutes a politically strategic alternative. His analysis covers two distinct components, fund accumulation and portfolio diversification. The concept of funded social security uses a mix of payroll taxes and portfolio investment income to finance benefits. With funded social security, the government contracts with private investment firms to manage the portfolio of the social security trust fund. It is entirely a defined-benefit plan without any individual defined-contribution accounts; each retiree's benefit is linked by a legislated formula to the retiree's own wage history. The benefit is an annuity - an annual benefit that continues as long as the retiree (or spouse) lives - and is automatically adjusted annually for inflation.

Reviews

"Seidman's book presents a thoughtful analysis of a proposal to fund Social Security without creating individual accounts - a proposal based on an excellent approach to Social Security reform." Peter A. Diamond, MIT

"Too often, the first casualty of intense debate is sober and honest analysis. As the debate on Social Security reform intensifies it is, therefore, particularly gratifying to come upon a study as clear, sober, and sensible as Laurence Seidman's Funding Social Security: A Strategic Alternative. In this book, he explains why it is important both to fund Social Security - and thereby boost national saving - and retain the reliability of pension benefits that Social Security provides." Henry J. Aaron, The Brookings Institution

Refine List

Actions for selected content:

Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Save to Kindle
  • Save to Dropbox
  • Save to Google Drive

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
×

Contents

Metrics

Full text views

Total number of HTML views: 0
Total number of PDF views: 0 *
Loading metrics...

Book summary page views

Total views: 0 *
Loading metrics...

* Views captured on Cambridge Core between #date#. This data will be updated every 24 hours.

Usage data cannot currently be displayed.