Social Security Reform:

Implementation Issues for Individual Accounts

HEHS-99-122: Published: Jun 18, 1999. Publicly Released: Jun 18, 1999.

Additional Materials:

Contact:

Cynthia Maher Fagnoni
(202) 512-7202
contact@gao.gov

 

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO provided information on social security reform, focusing on issues to consider regarding the design and implementation of an individual account system.

GAO noted that: (1) the social security system is one of the nation's most important and visible programs; (2) while individual accounts offer the possibility of an improved rate of return on individual contributions, a flawed or failed system of individual accounts could have devastating effects on individuals' retirement security and on public confidence in government overall; (3) in this context, GAO believes that three critical questions would need to be addressed in designing and implementing a system of individual accounts: (a) who would assume new administrative and recordkeeping responsibilities; (b) how much choice individuals would have in selecting and controlling their investment options; and (c) how much flexibility workers would have when they retire and begin to draw on their accounts; and (4) all of the decisions made regarding these critical questions would affect the design and structure of such a system, as well as who would bear any additional administrative responsibilities and costs.

Apr 13, 2016

Apr 4, 2016

Mar 1, 2016

Oct 29, 2015

Oct 27, 2015

  • retirement icon, source: PhotoDisc

    Social Security's Future:

    Answers to Key Questions
    GAO-16-75SP: Published: Oct 27, 2015. Publicly Released: Oct 27, 2015.

Sep 30, 2015

Sep 29, 2015

Sep 4, 2015

Jun 15, 2015

Jun 2, 2015

Looking for more? Browse all our products here