Fred T. Goldberg, Jr.
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NBER Working Papers and Publications
|January 2000||Reforming Social Security: A Practical and Workable System of Personal Retirement Accounts|
with Michael Graetz
in Administrative Aspects of Investment-Based Social Security Reform, John B. Shoven, editor
|February 1999||Reforming Social Security: A Practical and Workable System of Personal Retirement Accounts|
with Michael J. Graetz: w6970
This paper details a method for implementing personal retirement accounts (PRAs) as a part of Social Security reform. The approach described here answers the following questions: how funds are collected and credited to each participants' retirement account; how money is invested; and how funds are distributed to retirees. It is designed to accommodate a variety of answers to a wide range of important policy questions; to minimize administrative costs and distribute those costs in a fair and reasonable way; to minimize the burden on employers, especially small employees who do not now maintain a qualified retirement plan; and to meet the expectations of Americans for simplicity, security, control, and independence in ways that are easy to explain and to understand. The system we describe...
Published: Fred T. Goldberg, Jr. & Michael Graetz, 2000. "Reforming Social Security --A Practical and Workable System of Personal Retirement Accounts," NBER Chapters, in: Administrative Aspects of Investment-Based Social Security Reform, pages 9-40 National Bureau of Economic Research, Inc.