The Predictable Surprise: The Unraveling of the U.S. Retirement System

Author:   Sylvester J. Schieber
Publisher:   Oxford University Press Inc
ISBN:  

9780199890958


Pages:   448
Publication Date:   01 March 2012
Format:   Hardback
Availability:   Temporarily unavailable   Availability explained
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The Predictable Surprise: The Unraveling of the U.S. Retirement System


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Overview

Social Security is in jeopardy, private pension systems have fallen apart, and workers are trying to save on their own for retirement with the stock market in the worst shape since the Great Depression. In The Predictable Surprise, Sylvester J. Schieber shows that forewarnings of the coming retirement crisis have been apparent for decades, but we have never mustered the political will to address the problem. This book explains how we have gotten into the retirement predicament and where we can go from here. Schieber, a renowned authority on this topic, provides a compact, insightful history of Social Security, pension plans, and other retirement options, highlighting both their original justifications and the point when things began to go wrong. He brings his discussion right up to the present morass and concludes with suggestions as to how we can reform our retirement system. Our situation is not hopeless, Schieber concludes, if we take on some of these issues and resolve them. If we do not, we will severely jeopardize the prosperity of younger generations.

Full Product Details

Author:   Sylvester J. Schieber
Publisher:   Oxford University Press Inc
Imprint:   Oxford University Press Inc
Dimensions:   Width: 16.10cm , Height: 2.90cm , Length: 23.40cm
Weight:   0.796kg
ISBN:  

9780199890958


ISBN 10:   0199890951
Pages:   448
Publication Date:   01 March 2012
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Temporarily unavailable   Availability explained
The supplier advises that this item is temporarily unavailable. It will be ordered for you and placed on backorder. Once it does come back in stock, we will ship it out to you.

Table of Contents

Contents List of figures List of tables Preface and acknowledgments Part 1: Foundations and Fault Lines 1. Retirement USA 2. Early Motivations behind the Pension Movement Part II: Social Security, the dream and reality 3. Development and Passage of the Social Security Act 4. Early Concerns Prove Nagging and Persistent 5. Moving to Pay-as-You-Go Financing 6. A Deal too Good to Last 7. Operations under Pay-as-You-Go Financing 8. Crisis Reactions: Conflict, Consensus and Surprise 9. Sorting out the Trust Fund Semantics and Realities 10. Policy Stalemate at the Demographic Divide 11. Understanding Social Security in Modern Times Part III: Employer-based pension provision 12. Employer Pensions Taking Root 13. Growing pains for Private Retirement Plans 14. ERISA: the Transition to a New Regulatory Regime 15. The 1980s, a Decade of Regulatory Schizophrenia 16. Good Intentions Gone Awry 17. Some Good News--or Not 18. The Unfolding of a Predictable Defined Benefit Surprise 19. And Then, a Predictable Defined Contribution Surprise 20. Public pensions: the good, the bad and the ugly Part IV: Delivering benefits and providing retirement security 21. Retirement Income Security and Workers' Residuals 22. End Game: A Gold Watch, Pat on the Back and More 23. We've Killed the Goose, Let's Gild the Eggs 24. Tax Benefits and Benefit Taxes 25. Retiree Health Benefits: Misfortune or Malpractice Part V: Truth and consequences 26. The Fellow Behind the Tree 27. Securing the Social Security Foundation 28. Securing Tax-Favored Benefits and Living Standards 29. Remembering the Future Glossary

Reviews

<br> Schieber probably knows more about American retirement programs than anyone. He has advised the Social Security system, consulted with private firms and written widely on the subject. His book shows how today's 'entitlement' psychology dates to Social Security's muddled beginnings. --Robert Samuelson, Washington Post<br><p><br> The topic is very timely as the entire retirement system in the US is under pressure with firms and governments facing financial problems...The author is a well known expert in the field of retirement income and has written widely on these topics. He reaches out to the reader by presenting real stories that illustrate important points. Schieber relies on his background as an executive of a benefit consulting firm, his work with the government on Social Security, and his expertise as an economist. Blending these career experiences, he is able to consider the American retirement system from a variety of perspectives... --Robert Clark, Professor of Economics and Business Management, North Carolina State University <br><p><br> Schieber cuts through the thicket of rhetoric and specialized knowledge to reveal the interplay of demographics, economic conditions, politics, and government regulations that have led to this current crisis. It's hard not to share Schieber's respect for the architects of Social Security and what they accomplished during difficult times, and his regret that the current political climate doesn't encourage thoughtful discussion of needed reforms. This book is an invaluable resource for anyone who wishes to engage in that discussion. <br>--Publishers Weekly <br><p><br> The discussion necessarily gets deep into the weeds--analysts and policymakers will welcome the thoroughness--but general readers will appreciate Schieber's efforts to warm the material with quotations from Sophocles, Confucius, Dickens, Churchill, Lewis Carroll and even Mae West, and to demystify the arcana with a plethora of table, charts and grap


Outstanding Academic Titles 2012, as selected by CHOICE Magazine (December 2012). CHOICE


Author Information

Sylvester J. Schieber is Former Chairman of the Social Security Advisory Board, and the author or editor of numerous books on various aspects of population aging and retirement.

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