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City and state governments around the country are pursuing reforms to address the rising costs of public employee pension plans. In response, public employee unions and pension plans often portray these benefits as “modest.” Public employees should be willing to accept—and private-sector workers to demand—more equity in the generosity of their pension plans.
Washington is abuzz over the politics of work. Will ObamaCare create jobs or destroy them? What would raising the minimum wage do to youth unemployment? And what to do about the long-term unemployed? Yet there is an odd political silence about a future vision for jobs and economic growth.
At this event, retirement experts will discuss how proposed policy changes to Social Security or private pensions may be ill-considered.
There is a popular aphorism that “when you find yourself in a hole, the first step is to stop digging.” With respect to public employee pensions, a growing number of policymakers are contemplating following that advice.
State and local government pensions tout their ability to couple generous, guaranteed benefits for public employees with low and stable contributions from taxpayers. In reality, the risks that public pensions pose to taxpayers and government budgets have multiplied by a factor of 10 over the past four decades.
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Most private sector workers with employer-provided health insurance have a strong incentive to continue working until Medicare eligibility in order to maintain group health coverage. However, most government employees have access to retiree health coverage, which allows them access to group health...
The typical current glide path for a TDF starts at a high equity share (over 90 percent) and ends with a low share (averaging about 30 percent). The initial equity share has not changed much over the most recent business cycle, but the ending share has been lowered considerably.
Social Security can be claimed at any age between 62 and 70, with delayed claiming resulting in larger monthly payments. Claiming later increases the present value of lifetime benefits for most individuals. However, this has not always been the case. We find that the gains from delay increased substantially after 2000, with changes in the interest rate driving the increase.
One oft-cited reason to support immigration reform is to help Social Security's finances by introducing young workers into an aging system. Official figures bear out this presumption, but these figures are based on models that assume that legal immigrants are effectively identical to workers already in the U.S. But they are not.
Join us at AEI as the Right Honorable Liam Fox sits down with Marc Thiessen to discuss and debate whether America’s intelligence agencies have infringed on the personal privacy of US citizens.
How can young people succeed in workplaces dominated by curmudgeons who are judging their every move? At this AEI book event, bestselling author and social scientist Charles Murray will offer indispensable advice for navigating the workplace, getting ahead, and living a fulfilling life.