Social Security’s Finances: Reality Versus Common Misconceptions
In a Forbes column, NIRS Executive Director Dan Doonan writes time is on the side of those who save early, and this is just as true for Congress and Social Security as it is for an office worker putting savings into their 401(k).
The options for strengthening Social Security’s finances only become more expensive the closer we get to the date of the trust fund’s exhaustion, and potentially making up the shortfall with general fund revenues would be one of the most expensive options of all. Congress could demonstrate a real commitment not just to the growing senior population, but to fiscal responsibility by acting soon to shore up Social Security’s financing.
Statement on Efforts in Alaska to Restore Pension Benefits to Address Grave Workforce Shortage
Alaska’s effort to restore a pension plan for public workers represents meaningful progress in addressing one of the state’s most pressing challenges: attracting and retaining a stable, experienced public workforce. While Governor Dunleavy has vetoed the legislation, the fact that the measure passed both the House and Senate demonstrates a growing recognition that retirement benefits are not just about retirement security — they also are an essential workforce management tool.
