Footnotes
-
Social Security Administration, “The 2006 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds,” p.12; available from
http://www.ssa.gov/OACT/TR/TR06/tr06.pdf
-
Author’s calculations dividing the total shortfall by the Social Security
Administration’s estimate for the number of workers currently
paying payroll taxes into the system.
- Nichols, Orlo et al. "Internal Real Rates of Return under the OASDI Program for Hypothetical Workers," Social Security Administration Actuarial Note (March 2005); available from http://www.ssa.gov/OACT/NOTES/ran5/an2004-5.html (Note: Data reported is for medium income single earner born in 1985)
- Feldstein,
Martin and Jeffrey Liebman. "Social Security," NBER
Working Paper No. 8451, September 2001, p. 60. Figure is a
historical average of a 60:40 stock equity investment mix.
- Social
Security Administration, “The Distributional Consequences of a
“No-Action” Scenario: Updated Results” Social
Security Policy Brief [journal online] (No. 2005-01, July 2005);
available from
http://www.ssa.gov/policy/docs/policybriefs/pb2005-01.pdf
-
Authors calculations using a the historical average return (less
administrative costs) of 5.5% for a 60:40 stock:equity portfolio as
the interest rate compounded annually over 50 years.
- “Strengthening Social Security and Creating Personal Wealth for All Americans,&ldquo Report of the Presidents Commission (December 2001), p. 7; available from http://www.csss.gov/reports/Final_report.pdf
-
Social Security Administration, “Poverty-level Annuitization
Requirements in Social Security Proposals Incorporating Personal
Retirement Accounts.” Social Security Issue Paper [journal
online] (No. 2005-1, April 2005); available from
http://www.ssa.gov/policy/docs/issuepapers/ip2005-01.pdf
-
Social Security Administration, “Racial and Ethnic Differences
in Wealth and Asset Choices” Social Security Bulliten [journal
online] (Vol 64. No. 4 2001/2002); available from
http://www.ssa.gov/policy/docs/ssb/v64n4/v64n4p1.pdf
- Social Security Administration, “The 2006 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds,” p.55; available from
http://www.ssa.gov/OACT/TR/TR06/tr06.pdf
-
Social Security Administration, “OASDI Monthly Statistics,“ (April 2006); available from: http://www.ssa.gov/policy/docs/statcomps/oasdi_monthly/2006-04/table01.html
-
Poverty threshold for
a single individual over 65 based upon U.S. Census figures available
from http://www.census.gov/hhes/poverty/threshld/thresh04.html
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The Basics
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