Efforts to Inform the Public about Social Security: Hearing Before the Subcommittee on Social Security of the Committee on Ways and Means, House of Representatives, One Hundred Sixth Congress, Second Session, April 11, 2000, Volume 4 |
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AARON actuarial additional Alliance for Worker Americans APFEL believe beneficiaries benefit estimates benefit statements bill budget calculations Chairman SHAW cial Committee Congress contributions cost curity current law deficits economic employees ENTMACHER Federal FICA taxes future GEBHARDTSBAUER going hearing Heritage Foundation important improve income increase inform the public investment issues JERRY WELLER legislation lifetime long-term MATSUI Medicare ment million misleading National pay benefits payroll taxes percent projected rate of return reform proposals require retirement benefits return estimates revenues right to know risk rity Secu Security and Medicare Security Trust Fund social insurance Social Security Administration Social Security benefits Social Security program Social Security provides Social Security reform Social Security retirement Social Security Statement Social Security system Social Security Trust Social Security's rate solvency SSA's Subcommittee SUNUNU survivor benefits taxpayers Technical Panel Thank tion trillion Trustees Report understand unfunded women YSSS statements
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Page 47 - These balances are available to finance future benefit payments only in a bookkeeping sense. They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures.
Page 49 - These balances are available to finance future benefit payments. . .only in a bookkeeping sense. They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits, or other expenditures.
Page 79 - The Federal budget meaning of the term "trust" differs significantly from the private sector usage. . .the Federal Government owns the assets and earnings of most Federal trust funds, and it can unilaterally raise or lower future trust fund collections and payments, or change the purpose for which the collections are used.
Page 58 - committee members, staff, and fellow panelists, Good Afternoon. My name is Ron Gebhardtsbauer and I am the Senior Pension Fellow at the American Academy of Actuaries. The Academy is the nonpartisan, public policy
Page 65 - The views expressed here are my own and do not necessarily reflect the views of the staff, officers or trustees of the Brookings Institution or
Page 15 - any questions you might have. Thank you, Mr. Chairman. [The prepared statement follows:] Statement of Hon. John E. Sununu, a Representative in Congress from the State
Page 40 - other Members of the Subcommittee may have. GAO Contact and Staff Acknowledgments For information regarding this testimony, please contact Barbara Bovbjerg at (202) 512-7215. Individuals
Page 75 - Social Security does not pay benefits only to workers, nor does it base benefits strictly on the level of contributions. Social Security's progressive benefit formula provides individuals with low lifetime earnings, who are disproportionately women, with retirement benefits that are a larger percentage of average lifetime earnings.
Page 58 - federal elected officials and congressional staff, comments on proposed federal regulations, and works closely with state officials on issues related to insurance.
Page 33 - We have your full statement, and it will be made a part of the record. And we invite you to summarize as you