Retirement Crisis Research Paper

In the essay, “The Social Security Problem,” published in Sticks and Stones and Other Student Essays, Max Moore addresses the complex issue of Social Security running out of funds. He also addresses the possible actions that can be taken in order to provide a solution to this problem. Moore targets different audiences that are either directly affected or in control of this depletion of funds. He uses credible evidence to support his claims while also approaching the subject in a balanced and unbiased manner. Moore wants Social Security to both raise the retirement age and raise taxes.

The Chicago Fire Department and The Chicago Police Department are in danger of losing their pensions. These brave men and women put their lives on the line every day and this is how the government repays them. This is not securing their future of retirement. Citizens believe that our first responder’s pensions should be a high priority to Chicago’s to-do list. This City of Chicago owes these brave men and women a pension like they promised and if that means cutting funds to other things, then it should be done. The pension secures the men and women’s future of retirement, and by taking it away from them it may create unstable lives.

Post-Concussion-Syndrome (PCS) is a form of Chronic Traumatic Encephalopathy (CTE) and Traumatic Brain Injury (TBI). PCS is caused when a traumatic brain injury occurs do to an outside force (such as accidents) and the patient becomes concussed. Do to this, PCS is an environmental disease. PCS can also refer to the symptoms that a person may get directly after getting a concussion or initial trauma but many professionals’ use the term PCS to describe what happens to a person after they get a concussion, of either one crucial concussion or when a person get’s multiple concussion (either in rapid succession or concussions throughout a timeline) where the symptoms still impact them for longer than a few weeks.

According to a USA Today article from last year, nearly sixty percent of Americans have more than $25,000 put away for retirement. Thirty-six percent of Americans have less than $1000 saved for later in life. This means that as more people, especially the baby boomer generation, retire, there will be more strain on program such as Social Security and Medicare, and ultimately the federal budget that is responsible for these programs. If steps are taken now to close this gap, we will insure the continued longevity of these programs by raising the tax contributions flowing into both Social Security and Medicare.

4 Statistics Canada has utilized a computer model for the purpose of gaining retirement readiness information from households. This model calculates the net replacement ratio, which is further compared with disposable income once the person has reached retirement, as well as preretirement. The replacement ratios for each household 's income is broken down, with a 75% rate being considered tolerable and low. The ideal rate, however, is above at least 95%. The small percentage of Canadians who have a readiness score that is under 75% are generally employees with a spotty employment record, or those who have not yet lived in Canada long enough for a full Old Age Security (OAS) and Guaranteed Income Supplement (GIS) benefit. Therefore, increasing the overall amount of household savings is going to do a lot more damage than good. This is because having savings now reduces all disposable income for the years that are spent working, while additional income for retirement that is generated will reduce the future GIS entitlement. In fact, the

Therefore, in order to make the American Dream achievable to everyone, income wages must increase for those in the lower class and government welfare should be provided to all Americans in order to increase the opportunity of social mobility. Though income inequality may seem as an inevitable issue that just happens to plague many Americans who choose to work in blue collar jobs, current economic inequality is more realistically the result of unfair economic policies that threaten to worsen if they are not immediately addressed. The poor conditions of the workers who work for long hours with little pay demonstrate that America is at a crucial point, and that without immediate action, the country will continue to plunge further downward into

Some economic observers predict financial disasters, both national and personal, when the baby boomers retire. They say that as nations of workers and investors become nations of retired consumers, withdrawals will far outweigh deposits in investment and savings vehicles.

Social Security was introduced into law by Democratic President Franklin D. Roosevelt. Social Security was a program which would provide financial protection to our most elderly of citizens. The program over the course of time has evolved and added new branches of protection such as child, survivor, and dependent benefits. Social Security was never created to be an answer for a comprehensive retirement package for people retiring. However in our current society with plastic cards and increasing debit to income limits, many people do not save for the future. Many citizens live for today and expect the government to take care of them when they are old and cannot fend for themselves. In 2011 the first wave of baby boomers began reaching retirement age and in turn qualifies them to begin drawing from the Social Security System. The baby boom generation makes up 25 percent of the total United States population (SSA, 2014). The projected number of people from 2011 to 2030 who will become eligible to receive Old-Age benefits from the Social Security Act will increase by 65 percent (SSA, 2014). This data is crucial in terms of determining the stability of a system that relies on the paying masses to care for the elderly few. Many Presidents in the last two decades have created and formed elaborate panels of specialized individuals to tackle the problem of the long term sustainability of the Social Security System. In order to take care of our most elderly

The United States Social Security System is often considered a political football, frequently debated on whether the government should continue to manage it or should it be privatized. Either way, in today’s economy, it’s vital to the welfare of many. The main purpose of the system is to provide benefits to America’s workers and their families for retirement, disability, and early death. (Unknown Social Security ProCon) According to the data collected in the 2000 census, “Social Security is the main source of income for men and women 65 and older.” (Hartmann, Lee Highbeam) This finding proves people have become to depend on the government for this benefit, and for a multitude of reasons are not saving enough money to live on once they

Passing the Retirement and Tax Reform would only hurt the economical situation severely. According to Warren S. Hersch in the article “Message to Congress: Leave our products alone”, he states that, “This reform would not only hurt the U.S Economy by costing it about $583 billion dollars.” A few of the major concerns today that people still have include the controversy between whether or not members of Congress are against the idea of passing this act and why Congress continues to push away the idea of passing this act from the NAIFA. The NAIFA is working to pass a reform that only applies to a specific portion of America and would result in an economic blunder. If the government is already so in debt, needful of tax money, where would they get the money to fund for all of this? Instead of causing financial trouble for some people as a nation, the government should focus on coming together and employing minorities. By doing so, this would allow the NAIFA to focus on constructing a new plan and hopefully finding a solution to work towards the debt

The money available for retirement is a critical factor in determining when a person can afford to retire. If there isn’t enough money to live off of and receive on a monthly basis then it will prolong my retirement and I may have to keep working. Other things that I see an increase in are homelessness and poverty rates because these things happen when people aren’t receiving adequate income to support themselves, especially the ones who are disabled and unable to work.

In life not many things are guaranteed with the exception of living and dying. During the time between birth and death Americans are faced with many uncertainties. President Franklin D. Roosevelt said while signing the social security act that “The civilization of the past hundred years, with is startling industrial changes, has tended more and more to make life insecure” (Presidential Statement). The industrial revolution brought about a change in the work force, the majority who were self-employed had now become wage earners in industry, while chasing jobs they moved from rural areas to big cities. These changes also took away the individual’s ability to control their own financial destiny due to outside factors such as; business failure,

In order to counteract the worsening government Social Security Program, America must implement individual retirement programs unique to each citizen and effectively regulated by asset managers. This new social insurance would be independent of government regulation and unreliant on the declining population. In addition, it would create more job opportunities in the future by increasing the need for employment among asset managers. In turn, this increase in employment would strengthen individuals’ economic status, the public economy, and not cause any negative effects on the individual retirement programs. Also, the use of individual accounts would actively exemplify America’s government emphasizing the importance of America’s mantra of liberty and freedom in an economic perspective. The implementation of individual accounts works in increasing Americans’ individual private income, stabilizing America’s public economy, and maintains important cultural integrity of personal liberty with financial freedom, making a very effective solution to America’s defective Social Security

The middle-class cooperates by paying for their future social security checks, but there is no trust those taxes will be reimbursed to them when they retire. Thus, they read this text to be more aware of their situation and better equip themselves for every potential outcome of social

Unions can have either positive or negative effects on risk-adjusted returns in pension plans. On the positive side, a union can improve monitoring of pension advisors and asset managers. On the negative side, the union may sacrifice returns by making investments that promote union goals. This paper discusses how the structure of the pension plan affects the union's ability and willingness to sacrifice returns to promote union goals. Using panel data on over 38,000 pension plans drawn from IRS Form 5500 filings between 1988 and 2008, we find the lowest performing plans are unionized multi-employer plans. Among defined contribution plans, the underperformance of multi-employer union plans disappears when the pension is controlled by individual participants.