Social Security Policy Simulator Overview
Brief Summary
Professor Ken Smithers discusses a new Social Security simulator, its projections, and policy options for reforming the system.
Key points
- Trust Fund Exhaustion Timeline. Our model projects the trust fund will exhaust three to four years earlier than expected.
- Impact of Retirement Age. Increasing the retirement age has a minimal immediate impact on trust fund exhaustion.
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Episode highlights
- Trust Fund Exhaustion TimelineOur model projects the trust fund will exhaust three to four years earlier than expected.“We will exhaust the trust fund about three and a half to four years earlier.”0:58Jun 29, 2016
- Impact of Retirement AgeIncreasing the retirement age has a minimal immediate impact on trust fund exhaustion.“Increasing the retirement age is simply too late to solve the problem.”5:11Jun 29, 2016
Tension
30/ 100Low tension
