Different Approaches for Dealing with Social Security
讨论了1994年社会保障咨询委员会的报告，该报告提出了三种应对社会保障长期精算失衡的方法，包括维持现有福利结构、转向大规模个人账户以及混合方案。
This paper discusses the report of the 1994 Quadrennial Advisory Council on Social Security, of which the author was chair. The system is out of long-term actuarial balance and, as a maturing defined benefit pay-as-you-go system, is giving younger cohorts ever lower returns on their payroll contributions. The council suggested three approaches--each of which involves higher national saving and a way to get some retirement funds invested in equities. One of these approaches preserves the present benefit structure, one shifts to large-scale individual accounts, and one is a hybrid.