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Social Security Reform: How Much of a Role Could Personal Retirement Accounts Play?

Description: This report illustrates the potential accumulations of personal savings accounts intended for retirement savings, given a range of possible contribution amounts and interest rates. It is intended to provide information about how to evaluate the possible role of personal accounts in the debate on Social Security reform.
Date: June 9, 2000
Creator: Koitz, David S.
Partner: UNT Libraries Government Documents Department

Retirement Savings and Household Wealth in 2000: Analysis of Census Bureau Data

Description: This report examines recent trends in retirement saving and the policy implications. The aging of the American population and the impending retirement of the "baby boom" will place significant strains over the next several decades on both Social Security and on retirees' own financial resources. With continued increases in average life expectancies, retirees in the 21st century will have to stretch their savings and other assets over longer periods of retirement than were experienced by their parents and grandparents.
Date: December 12, 2002
Creator: Purcell, Patrick J.
Partner: UNT Libraries Government Documents Department

Age Dependency Ratios and Social Security Solvency

Description: As highlighted by the Social Security Administration (SSA), the aging of the (United States) population, hastened by the impending retirement of the huge baby-boom generation, has caused policy-makers to question whether the U.S. Social Security system can meet the demands for retirement benefits in the future. Because the current system largely pays benefits through taxes paid by current workers, the financial health of the system is sensitive to the ratio of dependents to workers—sometimes called the age dependency ratio or support ratio. Trends and projections of dependency ratios, including the relationship between both older (years 65 and older) and younger (under age 20) dependents to the working-age population in the United States are considered in the first section of this demographic report. Next, the United States is compared to nine other nations, including the seven other members of the G8. In the final section, policy implications of the changing dependent-to-worker ratios are considered in the context of pay-as-you-go (paygo) social security systems.
Date: October 27, 2006
Creator: Shrestha, Laura B.
Partner: UNT Libraries Government Documents Department

Traditional and Roth Individual Retirement Accounts (IRAs): A Primer

Description: This report describes the primary features of two common retirement savings accounts that are available to individuals: traditional and Roth Individual Retirement Accounts (IRAs). In response to concerns over the adequacy of retirement savings, Congress has created incentives to encourage individuals to save more for retirement through a variety of retirement plans. Some retirement plans are employer-sponsored, such as 401(k) plans, and others are established by individual employees, such as IRAs.
Date: April 27, 2016
Creator: Topoleski, John J.
Partner: UNT Libraries Government Documents Department

Social Security Retirement Earnings Test: How Earnings Affect Benefits

Description: Social Security benefits received before a person attains full retirement age (FRA) are subject to an actuarial reduction for early retirement and also may be reduced by the Social Security Retirement Earnings Test (RET) if the beneficiary has earnings that exceed an annual threshold. This report explains how the RET is applied under current law and provides detailed benefit examples to show how the RET affects both the worker beneficiary and any family members (auxiliary beneficiaries) who receive benefits based on the worker beneficiary’s record. The report points out features of the RET that are not widely known or understood, such as the recomputation of benefits when a beneficiary attains FRA to adjust (increase) benefits to take into account months for which no benefit or a partial benefit was paid as a result of the RET. Finally, the report discusses policy issues related to the RET, including recent research on the effect of the RET on work effort and the decision to claim Social Security benefits.
Date: May 17, 2010
Creator: Nuschler, Dawn & Shelton, Alison M.
Partner: UNT Libraries Government Documents Department

Social Security Retirement Earnings Test: How Earnings Affect Benefits

Description: Social Security benefits received before a person attains full retirement age (FRA) are subject to an actuarial reduction for early retirement and also may be reduced by the Social Security Retirement Earnings Test (RET) if the beneficiary has earnings that exceed an annual threshold. This report explains how the RET is applied under current law and provides detailed benefit examples to show how the RET affects both the worker beneficiary and any family members (auxiliary beneficiaries) who receive benefits based on the worker beneficiary’s record. The report points out features of the RET that are not widely known or understood, such as the recomputation of benefits when a beneficiary attains FRA to adjust (increase) benefits to take into account months for which no benefit or a partial benefit was paid as a result of the RET. Finally, the report discusses policy issues related to the RET, including recent research on the effect of the RET on work effort and the decision to claim Social Security benefits.
Date: January 14, 2011
Creator: Nuschler, Dawn & Shelton, Alison M.
Partner: UNT Libraries Government Documents Department

Social Security Retirement Earnings Test: How Earnings Affect Benefits

Description: Social Security benefits received before a person attains full retirement age (FRA) are subject to an actuarial reduction for early retirement and also may be reduced by the Social Security Retirement Earnings Test (RET) if the beneficiary has earnings that exceed an annual threshold. This report explains how the RET is applied under current law and provides detailed benefit examples to show how the RET affects both the worker beneficiary and any family members (auxiliary beneficiaries) who receive benefits based on the worker beneficiary’s record. The report points out features of the RET that are not widely known or understood, such as the recomputation of benefits when a beneficiary attains FRA to adjust (increase) benefits to take into account months for which no benefit or a partial benefit was paid as a result of the RET. Finally, the report discusses policy issues related to the RET, including recent research on the effect of the RET on work effort and the decision to claim Social Security benefits.
Date: January 4, 2012
Creator: Nuschler, Dawn & Shelton, Alison M.
Partner: UNT Libraries Government Documents Department

Federal Employees’ Retirement System: The Role of the Thrift Savings Plan

Description: This report discusses the two retirement systems available to federal employees. The Civil Service Retirement System (CSRS) was established in 1920 and covers only employees hired before 1984. The Federal Employees' Retirement System (FERS) was created to involve Social Security, a basic retirement annuity, and the Thrift Savings Plan (TSP). The TSP is discussed and illustrated.
Date: March 19, 2007
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department

The Market for Retirement Annuities

Description: A retirement annuity allows an individual to purchase a regular payment stream from an insurance company to last his lifetime. Despite the ability of the product to eliminate the risk that a retiree will outlive his assets, few retirement annuities have been sold in the individual market. In addition, the number of individuals who annuitize their defined contribution retirement plan balances remains small. New products are emerging that would offer alternate annuity designs and make annuity prices more attractive. This report discusses legislation has been proposed in the 109th Congress that would enhance the tax treatment of annuities and encourage the growth of stand-alone annuity and combined annuity and long-term care products.
Date: May 18, 2006
Creator: Ranade, Neela K.
Partner: UNT Libraries Government Documents Department

U.S. Household Savings for Retirement in 2010

Description: Report that provides data on a variety of household wealth measures in 2010 from the Federal Reserve's triennial Survey of Consumer Finances. The report classifies the amount of assets and debt by the age of the head of the household for both single and married households.
Date: July 23, 2013
Creator: Topoleski, John J.
Partner: UNT Libraries Government Documents Department

Retirement Benefits for Federal Law Enforcement Personnel

Description: This report discusses federal law enforcement officers enhanced retirement benefits due to mandatory retirement ages making these employees retire younger than the average government employee. Many individuals and employee groups who work in law enforcement-related positions, but who have not qualified as law enforcement officers for retirement purposes, have sought enhanced benefits through legislation in recent Congresses. Possible pros and cons of such legislation are discussed.
Date: September 5, 2017
Creator: Isaacs, Katelin P.
Partner: UNT Libraries Government Documents Department

Traditional and Roth Individual Retirement Accounts (IRAs): A Primer

Description: This report describes the primary features of two common retirement savings accounts that are available to individuals. Although the accounts have many features in common, they differ in some very important aspects. Both traditional and Roth IRAs offer tax incentives to encourage individuals to save for retirement.
Date: February 12, 2015
Creator: Topoleski, John J.
Partner: UNT Libraries Government Documents Department

Federal Employees' Retirement System: The Role of the Thrift Savings Plan

Description: This report discusses the two retirement systems available to federal employees. The Civil Service Retirement System (CSRS) was established in 1920 and covers only employees hired before 1984. The Federal Employees' Retirement System (FERS) was created to involve Social Security, a basic retirement annuity, and the Thrift Savings Plan (TSP). The TSP is discussed and illustrated.
Date: March 10, 2015
Creator: Isaacs, Katelin P.
Partner: UNT Libraries Government Documents Department

Securities and Exchange Commission Rule 151A and Annuities: Issues and Legislation

Description: This report explains the different types of annuities, the taxation of annuities, and disentangles the federal and state roles in the regulation of annuities. It outlines the SEC rule, including practical considerations for implementation. It also discusses congressional action in response to the SEC rule.
Date: July 1, 2010
Creator: Webel, Baird & Miller, Rena S.
Partner: UNT Libraries Government Documents Department

Early Withdrawals and Required Minimum Distributions in Retirement Accounts: Issues for Congress

Description: In response to the economic downturn, Congress considered providing relief to Americans by suspending two tax penalties on defined contribution retirement plans and Individual Retirement Accounts (IRAs). This report discusses the reasons offered in support of suspending these provisions, as well as the drawbacks. This report also presents data that estimates the number of households that these proposals would impact. Borrowing from retirement plans as an alternative to withdrawals is also discussed. Finally, the report discusses the kinds of proposals offered to either suspend or eliminate the early withdrawal penalty or the required minimum distribution provision.
Date: January 7, 2011
Creator: Topoleski, John J.
Partner: UNT Libraries Government Documents Department

Income and Poverty Among Older Americans in 2008

Description: This report describes the sources and amounts of income received by the 37.8 million Americans aged 65 and older who lived in non-institutional settings in 2008. The report also describes how the proportion of total income received from each source differs between high-income individuals and households and low-income individuals and households.
Date: October 2, 2009
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department