Administrative aspects of investment-based social security reform [[electronic resource] /] / edited by John B. Shoven

• Record Nr.: UNINA9910451283503321
• Pubbl/distr/stampa: Chicago, : University of Chicago Press, c2000
• ISBN: 1-281-22404-9; 9786611224042; 0-226-75481-2
• Descrizione fisica: 1 online resource (250 p.)
• Collana: National Bureau of Economic Research conference report
• Altri autori (Persone): ShovenJohn B
• Disciplina: 368.4/3/00973
• Soggetti: Privatization - United States; Social security - United States; Social security - United States - Finance; Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and indexes.
• Nota di contenuto: Front matter -- Contents -- Acknowledgments -- Introduction -- 1. Reforming Social Security. A Practical and Workable System of Personal Retirement Accounts -- 2. Administering a Cost-Effective. National Program of Personal Security Accounts -- 3. Mutual Funds and Institutional Investments What Is the Most Efficient Way to Set Up Individual Accounts in a Social Security System? -- 4. Administrative Costs and Equilibrium Charges with Individual Accounts -- 5. The Costs of Annuitizing Retirement Payouts from Individual Accounts -- 6. Panel Session: Industry Perspectives -- Contributors -- Author Index -- Subject Index
• Sommario/riassunto: Social security reform in the United States continues to be a pressing and contentious issue, with advocates touting some form of a centralized or a privatized system of personal accounts. In general, centralized systems offer low administrative costs, but are potentially subject to political mismanagement and appropriation. Privatized account systems, on the other hand, offer higher yields with more flexibility, but may prove too expensive and logistically daunting to implement. Uniting learned and outspoken proponents on both sides of ; the debate, this volume provides the first comprehensive analysis of the issues involved in administering a system of essentially private social security accounts. The contributors together come to startlingly similar conclusions, generally agreeing that a centralized system of accounts could deliver the benefits of privatization in a feasible and cost-efficient way by accessing administrative mechanisms already in existence. This is perhaps the most far-reaching synthesis yet envisioned of functional and implementable social security reform.