Dropping Out of Social Security

@inproceedings{Smetters2004DroppingOO,
  title={Dropping Out of Social Security},
  author={Kent A. Smetters and Jan Walliser},
  year={2004}
}
The liability facing a pay-as-you-go social security system can be calculated in several ways. The exact liability measure chosen can significantly affect the conversion of a public pay-as-you-go system to a system based on individually funded accounts. Most conversions, including that which took place in Chile, as well as in many plans to convert the US system, assume the largest measure, known as the “shutdown liability.” That measure pays many workers who have contributed to the public… CONTINUE READING

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