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Criteria for Social Security Reform

Author

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  • Joseph F. Quinn

    (Boston College)

Abstract

Because currently anticipated Social Security revenues are inadequate to pay for promised benefits, reform of the Social Security program is likely. Several different plans to restore the program to actuarial balance have emerged, and more will arise as the debate continues. Comparison and evaluation of these alternatives require a framework for analysis and criteria along which to judge their strengths and weaknesses. After discussing the goals of the Social Security system, we identify three main criteria (income adequacy, individual equity and economic growth), and propose several other issues for consideration.

Suggested Citation

  • Joseph F. Quinn, 1997. "Criteria for Social Security Reform," Boston College Working Papers in Economics 367, Boston College Department of Economics.
    • Handle: RePEc:boc:bocoec:367
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    File URL: http://fmwww.bc.edu/EC-P/wp367.pdf
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    References listed on IDEAS

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    1. James M. Poterba & Steven F. Venti & David A. Wise, 1996. "How Retirement Saving Programs Increase Saving," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 91-112, Fall.
    2. Joseph F. Quinn & Olivia S. Mitchell, "undated". "Social Security on the Table," Pension Research Council Working Papers 96-3, Wharton School Pension Research Council, University of Pennsylvania.
    3. Olivia S. Mitchell, 1998. "Administrative Costs in Public and Private Retirement Systems," NBER Chapters, in: Privatizing Social Security, pages 403-456, National Bureau of Economic Research, Inc.
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    5. Eric M. Engen & William G. Gale & John Karl Scholz, 1996. "The Illusory Effects of Saving Incentives on Saving," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 113-138, Fall.
    6. Jerry A. Hausman & David A. Wise, 1985. "Social Security, Health Status, and Retirement," NBER Chapters, in: Pensions, Labor, and Individual Choice, pages 159-192, National Bureau of Economic Research, Inc.
    7. Jill Quadagno & Joseph Quinn, 1996. "Does Social Security Discourage Work?," Boston College Working Papers in Economics 322., Boston College Department of Economics.
    8. Robert A. Moffitt, 1984. "Trends in Social Security Wealth by Cohort," NBER Chapters, in: Economic Transfers in the United States, pages 327-358, National Bureau of Economic Research, Inc.
    9. Olivia S. Mitchell, 1991. "Trends in Pension Benefit Formulas and Retirement Provisions," NBER Working Papers 3744, National Bureau of Economic Research, Inc.
    10. Joseph F. Quinn & Richard V. Burkhauser & Daniel A. Myers, 1990. "Passing the Torch: The Influence of Economic Incentives on Work and Retirement," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number pt, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    social security;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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