March 2005 |
Social Security is in the headlines with President Bush leading the effort to redesign this long-standing social program. Any significant changes to Social Security are likely to impact the structure and funding of employer-provided retirement programs. Recent estimates suggest that in 2018, Social Security will begin to spend more than it receives in taxes and, by 2042, the fund will likely be exhausted. For more than 65 years Social Security has been the nation's most successful domestic government program, providing economic protection for Americans of all ages. Some suggest that the demographic changes confronting our nation require the need for reforms in the Social Security program. How will the concerns over Social Security and the proposed alternatives impact workers, future retirees, and employers? Can private accounts provide the important social insurance properties that are the foundation of Social Security? Will privatization negatively affect public employees' pension plans? How can colleges and universities best plan for the future in the current environment of economic uncertainty?
The TIAA-CREF Institute, the American Council on Education, and NACUBO convened a panel of experts to discuss the future of Social Security and implications for higher education.
- Objective assessment of the status of Social Security
- Projections for solvency of the Social Trust Fund and implications for future beneficiaries
- Highlights of the Bush Commission recommendations and feasibility of proposed Individual Accounts
- Alternative approaches for ensuring the solvency of Social Security
- Implications for decision makers in higher education