Social Security: Background, Issues and Proposals ( Social Issues, Justice and Status )

Publication series :Social Issues, Justice and Status

Author: Jacob T. Álvarez  

Publisher: Nova Science Publishers, Inc.‎

Publication year: 2016

E-ISBN: 9781617616334

P-ISBN(Paperback): 9781617614699

Subject: L No classification

Keyword: 暂无分类

Language: ENG

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Social Security: Background, Issues and Proposals

Chapter

The Social Security Trust Fund and the Level of Federal Debt

The Social Security Trust Fund and Federal Default

The Social Security Trust Fund and Benefit Payments

End Notes

Chapter 2 SOCIAL SECURITY: TRUST FUND INVESTMENT PRACTICES

SUMMARY

BACKGROUND

ISSUES

End Notes

Chapter 3 SOCIAL SECURITY, SAVING, AND THE ECONOMY

SUMMARY

INTRODUCTION

SAVING AND THE ECONOMY

EXPLAINING HOUSEHOLD SAVING

Life Cycle Saving

Precautionary Saving

Recent Trends in Household Saving

SOCIAL SECURITY AND HOUSEHOLD SAVING

SAVING AND SOCIAL SECURITY REFORM

Fully Funded vs. Pay As You Go

Defined Benefit vs. Defined Contribution

Investing the Trust Fund in Private Securities

End Notes

Chapter 4 SOCIAL SECURITY RETIREMENT EARNINGS TEST: HOW EARNINGS AFFECT BENEFITS

SUMMARY

INTRODUCTION

HISTORICAL BACKGROUND

CURRENT LAW

Social Security Worker and Auxiliary Benefits

The RET Applies to Beneficiaries below the Social Security Full Retirement Age

The RET Reduces Social Security Benefits

The RET Exempt Amounts

Grace Year

The RET May Affect Social Security Benefits Received by Spouses, Survivors and Other Dependents

Dually Entitled Beneficiaries

BENEFITS WITHHELD UNDER THE RET ARE RESTORED STARTING AT FRA

WORKER BENEFICIARIES WITH EARNINGS IN 2006

APPLICATION OF THE RETIREMENT EARNINGS TEST

POLICY ISSUES

The RET and Work Incentives

The RET and Incentives to Claim Social Security Benefits

The RET, Retirement Security and Early Benefit Claims

Other Policy Issues

FINANCIAL EFFECT OF REPEALING THE RET ON THE SOCIAL SECURITY TRUST FUND

APPENDIX A. COMPUTATION OF THE SOCIAL SECURITY RETIRED-WORKER BENEFIT

Adjustment to Benefits Claimed before or after FRA

APPENDIX B. SOCIAL SECURITY AUXILIARY BENEFITS (BENEFITS FOR THE WORKER’S FAMILY MEMBERS)

Maximum Family Benefit Amount

APPENDIX C. ANNUAL EXEMPT AMOUNTS UNDER THE SOCIAL SECURITY RETIREMENT EARNINGS TEST, CALENDAR YEARS 2000-2010

End Notes

Chapter 5 SOCIAL SECURITY: RAISING OR ELIMINATING THE TAXABLE EARNINGS BASE

SUMMARY

BACKGROUND

Origin and History of the Taxable Earnings Base

THE TAXABLE EARNINGS BASE

The Taxable Earnings Base Today

The Taxable Earnings Base over Time

The Taxable Earnings Base by State

The Taxable Earnings Base by Employment Status and Gender

The Future of the Taxable Earnings Base

Projections of the Share of the Population Earning above the Taxable Wage Base over Their Lifetime

IMPACT OF RAISING OR ELIMINATING THE TAXABLE EARNINGS BASE

Impact on Individuals’ Lifetime Payroll Taxes and Social Security Benefits if the Taxable Wage Base Were Eliminated

Aggregate Changes

Changes by Income Group

Changes by Gender

Impact on the Social Security Trust Funds

Option 1: Cover 90% of Earnings and Pay Higher Benefits

Option 2: Cover All Earnings and Pay Higher Benefits

Option 3: Cover All Earnings and Pay No Additional Benefits

Impact on Federal Revenue

Impact on Workers’ and Employers’ Behavior

LEGISLATION IN THE 111TH CONGRESS

ARGUMENTS FOR AND AGAINST RAISING OR ELIMINATING THE BASE

Arguments For

Arguments Against

APPENDIX. TAXABLE EARNINGS BASES AND WORKER INCOME: DETAILED TABLES

End Notes

Chapter 6 INCREASING THE SOCIAL SECURITY PAYROLL TAX BASE: OPTIONS AND EFFECTS ON TAX BURDENS

SUMMARY

TAXABLE AND COVERED EARNINGS

THE DISTRIBUTION OF TAX BURDENS

BEHAVIORAL EFFECTS OF TAX CHANGES

End Notes

Chapter 7 SOCIAL SECURITY: CALCULATION AND HISTORY OF TAXING BENEFITS

SUMMARY

CALCULATION OF TAXABLE SOCIAL SECURITY BENEFITS

Special Considerations

State Taxation

Impact of Taxing Social Security Benefits

Impact on the Trust Funds

HISTORY OF TAXING SOCIAL SECURITY BENEFITS

APPENDIX. SPECIAL CONSIDERATIONS UNDER TAXATION OF BENEFITS

Lump Sum Distributions

Repayments

Coordination of Workers Compensation

Treatment of Nonresident Aliens

Withholding

End Notes

Chapter 8 THE IMPACT OF MEDICARE PREMIUMS ON SOCIAL SECURITY BENEFICIARIES

SUMMARY

INTRODUCTION

BACKGROUND

Social Security Benefits

Annual Cost-of-Living Adjustment

COLAs for 2010 and 2011

Medicare Premiums

Part B Premiums

Part B Premiums for 2010

Medicare Advantage (Part C)

Part C Premiums

Part D Premiums

Part D Premiums for 2009

MEDICARE PREMIUM SUBSIDIES FOR LOW-INCOME BENEFICIARIES

HOLD HARMLESS PROVISION FOR MEDICARE PART B PREMIUMS

No Social Security COLA Scenario

GROWTH IN SOCIAL SECURITY BENEFITS AND MEDICARE PART B PREMIUMS FROM 2001 TO 2010

Historical Benefit Thresholds for the Hold Harmless Provision

IMPACT OF MEDICARE PREMIUMS ON SOCIAL SECURITY BENEFICIARIES

Impact on the Cohort that Retired in 2000

Impact on Initial Benefits of Cohorts Retiring in Each Year from 2010 to 2078

WHY THE TRUSTEES’ PROJECTIONS OF MEDICARE PART B PREMIUMS MAY BE TOO LOW

LEGISLATION IN THE 111TH CONGRESS

CONCLUSION

End Notes

CHAPTER SOURCES

INDEX

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