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The Social Security Earnings Test Removal. Money Saved or Money Spent by the Trust Fund?

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Author Info
Giovanni Mastrobuoni () (Collegio Carlo ALberto and Center for Research on Pensions and Welfare Policies, Turin)

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Abstract

Beneficiaries of Social Security face restrictions on how much they can earn without incurring the earnings test (ET). In 2000, President Clinton eliminated the ET between age 65 and 70. In this paper I evaluate how this removal impacts the long-term finances of the Trust Fund. I find that starting in 2006 the Social Security Administration is actually saving money and that the removal appears to be Pareto-efficient. A removal of the remaining part of the ET is likely to be even less costly and to produce larger increases in labor supply and contributions.

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File URL: http://cerp.unito.it/index.php/en/publications/working-papers/146-the-social-security-earnings-test-removal-money-saved-or-money-spent-by-the-trust-fund
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Publisher Info
Paper provided by Center for Research on Pensions and Welfare Policies, Turin (Italy) in its series CeRP Working Papers with number 51.

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Length: 29 pages
Date of creation: Sep 2006
Date of revision:
Handle: RePEc:crp:wpaper:51

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Related research
Keywords: Pension; Saving;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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  1. Jonathan Gruber & Peter Orszag, 2000. "Does the Social Security Earnings Test Affect Labor Supply and Benefits Receipt?," NBER Working Papers 7923, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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