Individual Risk in an Investment-Based Social Security System

Individual Risk in an Investment-Based Social Security System

This paper examined the risk aspects of an investment-based defined-contribution Social Security plan. The focus was on the risks after the plan is fully phased-in so that all employees and retirees are participants in the plan. The calculations were based on detailed projections of economic and dem...

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Veröffentlicht in:The American economic review 2001-09, Vol.91 (4), p.1116-1125
Hauptverfasser: Feldstein, Martin, Ranguelova, Elena
Format: Artikel
Sprache:eng
Schlagworte:
Age
Annuities
Economic models
Economics
Investment
Investment return rates
Investments
Population ageing
Privatization
Retirees
Retirement
Retirement benefits
Retirement income
Risk
Savings rates
Shorter Papers
Social security
Social Security benefits
Social security tax
Social security taxes
Statistical analysis
Stock exchange
Studies
Tax benefits
Tax rates
Welfare policy
Welfare state
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Beschreibung
Zusammenfassung:This paper examined the risk aspects of an investment-based defined-contribution Social Security plan. The focus was on the risks after the plan is fully phased-in so that all employees and retirees are participants in the plan. The calculations were based on detailed projections of economic and demographic variables from the Social Security Administration and the Census Bureau for the 80-year period beginning in 1998.
ISSN:0002-8282
1944-7981
DOI:10.1257/aer.91.4.1116