Preparing for Retirement Reforms
By Karen E. Smith, Eugene Steurele, Damir Cosic
Each of the three pillars of the US retirement system—Social Security, employer pensions, and private savings—suffers from serious problems that could threaten the financial security of future retirees. Social Security is at risk of becoming insolvent. If policymakers fail to act, Social Security benefits will be cut by about 25 percent starting in 2035, and even with reform, some combination of a slowdown in benefit growth for retirees and higher taxes on workers likely will occur.
Source @Papers SSRN
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