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Social Security: Improving Retirement Income for All Americans

June 1, 2016
By William W. Beach, Daniel J. Mitchell, Gareth G. Davis, and Stuart M.

WHAT TO DO IN 1999

social security cards

In recent years responsible lawmakers have begun to discuss openly the need for significant reforms in the Social Security program. Their discussions reflect the rising level of concern among Americans, especially among younger workers that the program will not be able to provide them with promised benefits when they retire.

Since the current Social Security system produces such dismal return compared with private programs. It may be possible to build strong hacking among  Americans who might relish the rewards but not the potential risk of a private option. One method might be to require that private plans purchase an insurance policy for enrollees to guarantee at least the return the individual would have obtained by remaining within the Social Security system.