Download the pdf: Social-Security-Replacement-Rates_Nudging-in-the-Wrong-Direction.pdf Introduction Social Security reform is both necessary and urgent, yet Congress remains reluctant to act.[1] This political inertia is primarily the result of two factors. First, the combined Social Security trust funds (OASDI) are projected to remain…
Introduction Since the last major Social Security reforms enacted in 1983, every annual Trustees’ report has projected benefits would exceed payroll taxes (plus income taxes on benefits) by 2021 or earlier, and the combined retirement and disability trust funds…