The Potential Effect of Offering Lump Sums in the Social Security Program
Loading...
Files
Penn collection
Wharton Public Policy Initiative Issue Briefs
Degree type
Discipline
Subject
social security
budget
payroll
tax
Public Policy
Social Welfare
Taxation
budget
payroll
tax
Public Policy
Social Welfare
Taxation
Funder
Grant number
Copyright date
Distributor
Related resources
Is Social Security Really Running Short? (http://knowledge.wharton.upenn.edu/article/is-social-security-really-running-short/)
The Potential Effect of Offering Lump Sums in the Social Security Program (http://publicpolicy.wharton.upenn.edu/issue-brief/v3n9.php)
The Potential Effect of Offering Lump Sums in the Social Security Program (http://publicpolicy.wharton.upenn.edu/issue-brief/v3n9.php)
Author
Contributor
Abstract
New research reframes the debate about Social Security solvency and moves away from questions of who should bear the greater burden of fixing the system by offering a lump sum payment model as a way to encourage people to delay claiming their Social Security benefits. Under one of the lump sum alternatives presented in this brief, survey participants indicated a willingness to delay claiming Social Security by up to eight months, on average, compared to the status quo, and to continue working for four of them. Delayed claiming would mean additional months or years of Social Security payroll tax contributions, which could modestly improve the program’s solvency.
Advisor
Date Range for Data Collection (Start Date)
Date Range for Data Collection (End Date)
Digital Object Identifier
Series name and number
Publication date
2015-11-01