The future of Social Security is troubled, both in the United States and in most other developed countries with aging populations. As improvements in health care and changes in life styles enable retirees to live longer than ever before, the stress on national budgets will increase substantially. In Social Security Programs and Retirement around the World, Jonathan Gruber, David A. Wise, and experts in many countries examine the consequences of reforming retirement benefits in a dozen nations. Drawing on the work of an international group of noted economists, the editors argue that social security programs provide strong incentives for workers to leave the labor force by retiring and taking the benefits to which they are entitled. By penalizing work, social security systems magnify the increased financial burden caused by aging populations, thus contributing to the insolvency of the system. This book is a model of comparative analysis that evaluates the effects of illustrative policies for countries facing the impending rapid growth of social security benefits. Its insights will help inform one of the most pressing debates.military service, and other work in the public sector are also counted as service years. For retirement after June 1997 the college education credit is limited to three years. Before 1992, the replacement rate was a nonlinear function of serviceanbsp;...
|Title||:||Social Security Programs and Retirement around the World|
|Author||:||Jonathan Gruber, David A. Wise|
|Publisher||:||University of Chicago Press - 2009-02-15|