Retirement Challenges in the 21st Century
Published: May 08, 2006. Publicly Released: May 08, 2006.
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Highlights
This is a Comptroller General Presentation delivered to the AICPA Employee Benefits Conference on May 8, 2006. Major topics of this presentation include: composition of federal spending, fiscal burden, declining personal saving rate, GAO criteria for evaluating social security reform proposals, and selected potential health care reform approaches.
Retirement Challenges in The 21st Century
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Table of contents
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- Composition of Federal Spending
- Federal Spending for Mandatory and Discretionary Programs
- Surplus or Deficit as a Share of GDP Fiscal Years 1962-2005
- Fiscal Year 2004 and 2005 Deficits and Net Operating Costs
- Estimated Fiscal Exposures ($ trillions)
- How Big is Our Growing Fiscal Burden?
- Social Security, Medicare, and Medicaid Spending as a Percent of GDP
- Composition of Spending as a Share of GDP Under Baseline Extended
- Composition of Spending as a Share of GDP Assuming Discretionary Spending Grows with GDP after 2006 and All Expiring Tax Provisions are Extended
- Current Fiscal Policy Is Unsustainable
- The Way Forward: Three Pronged Approach
- 21st Century Challenges Report
- Illustrative 21st Century Questions: Retirement and Disability Policy
- Illustrative 21st Century Questions: Health Care
- Key Elements for Economic Security in Retirement
- Personal Saving Rate Has Declined
- Annual Saving Required for a 35-Year Old, with Social Security
- U.S. Elderly Dependency Ratio Expected to Continue to Increase
- U.S. Labor Force Growth Will Continue to Decline
- Social Security and Medicare's Hospital Insurance Trust Funds Face Cash Deficits
- Key Dates Highlight Long Term Challenges of the Social Security System
- GAO Criteria for Evaluating Social Security Reform Proposals
- Pension System Faces Variety of Challenges
- PBGC's Net Accumulated Deficit for Single-Employer Plans Was Nearly $23 Billion in 2005
- PBGC Claims and Exposures by Principle Industry Category
- Broad Goals for Reform of the DB System
- Several Reforms Might Improve Plan Funding and Reduce the Risks to PBGC's Long-term Viability
- Key Dates Highlight Long Term Challenges of the Medicare Program
- SMI Premium as Share of Average Social Security (OASI) Benefit
- Health Care Is the Nation's Top Tax Expenditure in Fiscal Year 2005
- Issues to Consider in Examining Cost, Access, and Quality Challenges
- Selected Potential Health Care Reform Approaches
- Selected Potential Health Care Reform Approaches
- Working Longer May Help Address the Challenges of an Aging Population
- Why Older Americans Don't Work Longer
- Key Ingredients Needed for These Challenging and Changing Times
- Close