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Reimagining PensionsThe Next 40 Years$
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Olivia S. Mitchell and Richard C. Shea

Print publication date: 2016

Print ISBN-13: 9780198755449

Published to Oxford Scholarship Online: March 2016

DOI: 10.1093/acprof:oso/9780198755449.001.0001

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Entitlement Reform and the Future of Pensions

Entitlement Reform and the Future of Pensions

(p.74) Chapter 5 Entitlement Reform and the Future of Pensions
Reimagining Pensions

C. Eugene Steuerle

Benjamin H. Harris

Pamela J. Perun

Oxford University Press

The three systems affecting the elderly—health, Social Security, and employer-based retirement plans—have not been reformed substantially in decades. Reform of retirement and health care entitlements is inevitable, but its ultimate format remains uncertain. Any entitlement reform should take advantage of the additional resources provided by economic growth and the rise in demand for and supply of older workers. This chapter proposes that recognizing the potential from those two forces argues for constructing reforms aimed largely at three goals: better orientation of public sector retirement resources to needier and older populations; removal of obstacles to increased employment of older workers; and private pension reform that provides the long-sought second tier of support in older ages.

Keywords:   federal budget, entitlements, pension reform, Social Security, Medicare, health care, health cost growth

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