Future Sustainability of Social Security Trends in Unemployment and Retirement Benefits
說明
190 p
附註
Source: Dissertation Abstracts International, Volume: 75-07(E), Section: A
Adviser: Raj Singh
Thesis (Ph.D.)--Walden University, 2014
The increasing rates of retirement and higher unemployment are posing substantial risks to Social Security financial stability since the Social Security Administration (SSA) must set aside an increasingly greater amount of funds for those who are retiring. The primary purpose of this study was to determine if the Social Security program generates sufficient revenue to continue to pay retirement benefits. An additional purpose was to highlight the risks and benefits involved in reforming the Social Security system. The research questions focused on exploring whether current trends of higher unemployment and increases in retirement benefits affect Social Security's long-term financial stability. The theoretical construct for this study was in Bryant's conceptualization of social policy theory. Secondary data from the SSA, Social Security Board of Trustees, and the Congressional Budget Office for years 2005-2010 were examined using a time-series analysis based on Coe's structural equation modeling technique. The key finding indicates that the Social Security system is not likely sustainable in the future because current policy increases the costs rather than increasing revenues, which is considered a drawback according to Bryant's conceptualization of social policy theory. Positive social change implications stemming from this study include recommendations to the SSA related to increasing private investments for enhancing financial sustainability of the Social Security system and policy changes that encourage workers to remain in the labor market longer, which will accrue higher benefits from pensions
