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Comparing Current Social Security Reform Proposals

Under current projections by the Social Security Administration, the Social Security Trust Funds will be depleted by 2037 and the system will become insolvent. While politicians of both political parties generally agree on the need for Social Security reform, there is considerable debate about how to bring this about.In this AARP Public Policy Institute Issue Paper, Andrew Lyon and John Stell of the University of Maryland compare four prominent proposals and how they would affect current workers and future beneficiaries. The four proposals are:

  • The Social Security Guarantee Plan proposed by Representatives Bill Archer and Clay Shaw
  • The Social Security Solvency Act of 1999 (S. 21) proposed by former Senator Daniel Patrick Moynihan
  • The Bipartisan Social Security Reform Act of 1999 (S. 1383) proposed by Senators Gregg, Breaux and others
  • The Trust Fund Investment Plan (TFIP), a hypothetical plan based on a proposal by the Clinton Administration to transfer general fund revenues to the trust funds, and to invest part of the trust funds in equities (however, it was necessary to modify this plan to achieve solvency) (50 pages)

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