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Reforming Social Security Around the World

Abstract

In May 2009 the Office of the Chief Actuary for the U.S. Social Security Administration projected that by 2016 the Social Security Trust Fund would begin to spend more money than it took in through tax revenue. Further, by 2037 the balance in the Trust Fund would be down to zero, necessitating cuts in benefits to retirees. The U.S. Social Security system thus faced a long-term financial problem that needed to be addressed sooner rather than later. The experience of other countries in reforming their own systems of old-age insurance might provide some guidance for U.S. policymakers as they attempt to deal with the long-run fiscal challenges facing the U.S. Social Security system. This case focuses on reforms of old-age insurance systems in three countries: Australia, Mexico, and Sweden.

Type

Case

Author(s)

David Besanko, Saahil Malik

Date Published

Citations

Besanko, David, and Saahil Malik. Reforming Social Security Around the World. Case 5-409-758 (KEL493).

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