NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Andrew Biggs

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with Clark Burdick, Kent Smetters
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June 2009Pricing Personal Account Benefit Guarantees: A Simplified Approach
with Clark Burdick, Kent Smetters
in Social Security Policy in a Changing Environment, Jeffrey Brown, Jeffrey Liebman and David A. Wise, editors
June 2005Alternative Methods of Price Indexing Social Security: Implications for Benefits and System Financing
with Jeffrey R. Brown, Glenn Springstead: w11406
This paper explains four methods of "price indexing" initial Social Security retirement benefits, and discusses the effect of each method on the fiscal sustainability of Social Security, benefit levels and replacement rates, redistribution, and sensitivity of system finances to demographic and economic shocks. Of these methods, PIA Factor Indexing would generate the largest cost savings while reducing benefit growth at approximately an equal rate for all income levels. Methods that index the AIME, the formula "bend points," or both, would reduce benefit growth at a slower rate and would have different effects on benefit distribution and system sustainability.

Contact and additional information for this authorAll papers and publicationsWorking Papers onlyWorking Papers with publication info

 
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