Alternative methods of price indexing social security
Subtitle: implications for benefits and system financing
By: Andrew G. Biggs, Jeffrey R. Brown, Glenn Springstead.
Contributors: Brown, Jeffrey R.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11406; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11406.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Social security.; Postemployment benefits.; Price indexes.
Description: "This paper explains four methods of "price indexing" initial Social Security retirement benefits, and discusses the effect of each method on the fiscal sustainability of Social Security, benefit levels and replacement rates, redistribution, and sensitivity of system finances to demographic and economic shocks.  Of these methods, PIA Factor Indexing would generate the largest cost savings while reducing benefit growth at approximately an equal rate for all income levels.  Methods that index the AIME, the formula "bend points," or both, would reduce benefit growth at a slower rate and would have different effects on benefit distribution and system sustainability"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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Mode of access: World Wide Web.