Social Security : Background, Issues and Proposals.

Intro -- SOCIAL SECURITY: BACKGROUND, ISSUES AND PROPOSALS -- SOCIAL SECURITY: BACKGROUND, ISSUES AND PROPOSALS -- CONTENTS -- PREFACE -- Chapter 1 SOCIAL SECURITY: THE TRUST FUND -- SUMMARY -- INTRODUCTION -- HOW THE SOCIAL SECURITY PROGRAM IS FINANCED -- THE SOCIAL SECURITY TRUST FUND AS A DESIGNATED ACCOUNT -- Social Security Trust Fund Revenues -- Social Security Trust Fund Costs -- Social Security Trust Fund Operations -- Investment of the Social Security Trust Fund -- The Social Security Trust Fund and the Federal Budget -- On-Budget versus Off-Budget -- THE SOCIAL SECURITY TRUST FUND AS ACCUMULATED HOLDINGS -- 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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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.