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Full-Text Articles in Retirement Security Law

Social Security Reform: Risks, Returns, And Race, Dorothy A. Brown, Karen C. Burke, Grayson M.P. Mccouch Aug 2015

Social Security Reform: Risks, Returns, And Race, Dorothy A. Brown, Karen C. Burke, Grayson M.P. Mccouch

Grayson McCouch

The debate over social security reform has far-reaching implications for the economic well-being of blacks and other minority groups. In this article, we examine how blacks have fared under the existing system, and then consider the likely consequences of moving toward a privatized system. Specifically, we consider the claim, recently advanced by some privatizers, that blacks receive an especially "bad deal" under the existing system and would be better off under a privatized system. We find that, for blacks as a group, this claim tends to overstate both the shortcomings of the existing system and the advantages of privatization. Furthermore ...


Privitizing Social Security: Administration And Implementation, Karen C. Burke, Grayson M.P. Mccouch Aug 2015

Privitizing Social Security: Administration And Implementation, Karen C. Burke, Grayson M.P. Mccouch

Grayson McCouch

This article considers administrative issues that bear on the structure and implementation of any universal, mandatory system of personal accounts within the Social Security system. The central issues involve tradeoffs between relatively standardized, low-cost options with constrained individual choice and limited risk, on the one hand, and more flexible, higher-cost options with enhanced opportunities for individual control and greater risk, on the other hand. A centralized system modeled on the Thrift Savings Plan for federal employees could balance these goals by offering participants a relatively narrow range of investment and withdrawal options, with correspondingly low administrative costs and limited risks ...


Partial Privatization Of Social Security: Assessing Its Effect On Women, Minorities, And Lower-Income Workers, Kathryn L. Moore Nov 2014

Partial Privatization Of Social Security: Assessing Its Effect On Women, Minorities, And Lower-Income Workers, Kathryn L. Moore

Kathryn L. Moore

Once viewed as the “third rail” of politics, Social Security appears to be moving inexorably toward reform. In his 1998 State of the Union address, President Clinton proclaimed strengthening Social Security a high priority and called for bipartisan forums on Social Security reform to be held throughout the United States. Similarly, following the 1998 November elections, congressional leaders expressed commitment to “saving Society Security,” and House Ways and Means Chairman Bill Archer renewed his commitment to bipartisan reform of Social Security as recently as December 8, 1999 in a letter to President Clinton. Congressional hearings on reform proposals are ubiquitous ...


Privatizing Railroad Retirement, Steven A. Sass Jan 2014

Privatizing Railroad Retirement, Steven A. Sass

Upjohn Press

Sass discusses the evolution of the U.S. Railroad Retirement System and whether its ability to invest its assets in private equities offers any lessons for Social Security.


Lessons From The French Funding Debate, Kathryn L. Moore Jan 2004

Lessons From The French Funding Debate, Kathryn L. Moore

Law Faculty Scholarly Articles

The French retirement system, like the American social security system, is facing long-term funding difficulties. As a result, the French are debating whether to expand the role of pre-funded retirement plans. The economic arguments presented in this debate are virtually identical to the economic arguments presented in the American debate on whether the American social security system should be partially privatized.

The French and American debates, however, diverge once history and ideology are considered. The French have a history of failed funded pensions in contrast to the United States where the failure of prominent underfunded pension led to the enactment ...


Privitizing Social Security: Administration And Implementation, Karen C. Burke, Grayson M.P. Mccouch Oct 2001

Privitizing Social Security: Administration And Implementation, Karen C. Burke, Grayson M.P. Mccouch

UF Law Faculty Publications

This article considers administrative issues that bear on the structure and implementation of any universal, mandatory system of personal accounts within the Social Security system. The central issues involve tradeoffs between relatively standardized, low-cost options with constrained individual choice and limited risk, on the one hand, and more flexible, higher-cost options with enhanced opportunities for individual control and greater risk, on the other hand. A centralized system modeled on the Thrift Savings Plan for federal employees could balance these goals by offering participants a relatively narrow range of investment and withdrawal options, with correspondingly low administrative costs and limited risks ...


The Effects Of Partial Privatization Of Social Security Upon Private Pensions, Kathryn L. Moore Jan 2001

The Effects Of Partial Privatization Of Social Security Upon Private Pensions, Kathryn L. Moore

Law Faculty Scholarly Articles

Social Security does not provide retirement income in a vacuum. Rather, commentators often refer to our national retirement income system as a three legged stool, with Social Security representing one of the legs and employer sponsored pension plans and individual savings representing the other two legs. Because changes in one leg of the stool are likely to have a direct impact on the other two legs, policymakers must not consider Social Security changes in isolation, but should take account of their effect on employer-sponsored pensions and individual savings. This Article analyzes how one of the most popular proposals, partial privatization ...


Taking Public Rights Private: The Rhetoric And Reality Of Social Security Privatization, Patricia E. Dilley Sep 2000

Taking Public Rights Private: The Rhetoric And Reality Of Social Security Privatization, Patricia E. Dilley

UF Law Faculty Publications

This Article explores the foundations of the Social Security privatization debate. What is frequently portrayed as a numbers problem to which a "correct" answer can be found is in fact an ideological and political argument about wealth building versus direct income support and about the reality and security of public entitlement as opposed to private property rights. Efforts to use the idea of private property as the basis of rights in the context of the Social Security system and other non-retirement social welfare programs have proven problematic. This Article suggests that Social Security, far from being a quaint, retrograde souvenir ...


Partial Privatization Of Social Security: Assessing Its Effect On Women, Minorities, And Lower-Income Workers, Kathryn L. Moore Apr 2000

Partial Privatization Of Social Security: Assessing Its Effect On Women, Minorities, And Lower-Income Workers, Kathryn L. Moore

Law Faculty Scholarly Articles

Once viewed as the “third rail” of politics, Social Security appears to be moving inexorably toward reform. In his 1998 State of the Union address, President Clinton proclaimed strengthening Social Security a high priority and called for bipartisan forums on Social Security reform to be held throughout the United States. Similarly, following the 1998 November elections, congressional leaders expressed commitment to “saving Society Security,” and House Ways and Means Chairman Bill Archer renewed his commitment to bipartisan reform of Social Security as recently as December 8, 1999 in a letter to President Clinton. Congressional hearings on reform proposals are ubiquitous ...


Social Security Reform: Risks, Returns, And Race, Dorothy A. Brown, Karen C. Burke, Grayson M.P. Mccouch Apr 2000

Social Security Reform: Risks, Returns, And Race, Dorothy A. Brown, Karen C. Burke, Grayson M.P. Mccouch

UF Law Faculty Publications

The debate over social security reform has far-reaching implications for the economic well-being of blacks and other minority groups. In this article, we examine how blacks have fared under the existing system, and then consider the likely consequences of moving toward a privatized system. Specifically, we consider the claim, recently advanced by some privatizers, that blacks receive an especially "bad deal" under the existing system and would be better off under a privatized system. We find that, for blacks as a group, this claim tends to overstate both the shortcomings of the existing system and the advantages of privatization. Furthermore ...


Privatization Of Social Security: Misguided Reform, Kathryn L. Moore Apr 1998

Privatization Of Social Security: Misguided Reform, Kathryn L. Moore

Law Faculty Scholarly Articles

This article begins by briefly describing the social security program. It then discusses the reasons for social security's widespread popularity and its impending funding crisis. The article goes on to briefly describe some of the pending privatization proposals. The article concludes by discussing the practical and theoretical problems with privatizing social security. Specifically, it describes the investment risk participants face under a privatized system and the transition problems created by converting to such a system. Finally, this article explains why the privatization proposals promote misguided paternalism and misconceive the role social security should play in our national retirement system.


Redistribution Under A Partially Privatized Social Security System, Kathryn L. Moore Jan 1998

Redistribution Under A Partially Privatized Social Security System, Kathryn L. Moore

Law Faculty Scholarly Articles

Once viewed as a radical recommendation, proposals to privatize Social Security abound. Moreover, proposals to privatize partially Social Security are beginning to receive serious consideration. Accordingly, this Article will address the likely effect of partial privatization on Social Security's ability to redistribute income. For the purposes of this Article, privatization will refer to proposals that involve individuals directing their own pre-funded individual accounts and bearing the risk of investing in the private market and not to proposals that involve the federal government investing in the private market and bearing the risk. This Article will treat proposals that "add" a ...