Regional Vice President of Sales The Retirement Plan Company
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Compass
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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AimPoint Pension
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Would Use of Means Testing Help Social Security? (PDF)
American Academy of Actuaries Dec. 11, 2012 "Advocates argue that means testing would reduce costs to the Social Security program. But such a move could have serious unintended consequences, including erosion of public support for Social Security, savings disincentives during working years, and administrative complexity. Social Security already includes an 'earnings test' based on the principle that Social Security payments should replace lost earnings, and it is therefore appropriate to reduce benefits for those whose earnings indicate that they have not yet retired. Policymakers seeking to avoid means testing could achieve much of the same results by adjusting the benefit formula for highly compensated individuals or by increasing the taxation of Social Security benefits at a higher rate than the one currently used." |
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