Jump to ContentJump to Main Navigation
The Predictable SurpriseUnraveling the U.S. Retirement System$
Users without a subscription are not able to see the full content.

Sylvester J. Schieber

Print publication date: 2012

Print ISBN-13: 9780199890958

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199890958.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 29 November 2020

Remembering the Future

Remembering the Future

(p.364) 29 Remembering the Future
The Predictable Surprise

Sylvester J. Schieber

Oxford University Press

This chapter looks at the future prospects for the U.S. retirement system. Many people today credit President Franklin D. Roosevelt for the tremendous success that Social Security has wrought in making today’s retirees more economically secure than any other age group, but others blame him for creating a welfare program—the largest in the federal portfolio—that has made much of the middle and upper classes dependent on a government income-transfer program funded by the largest single tax burden on American workers. The chapter first considers issues surrounding retirement security before asking whether the retirement benefits that were essentially defined by the 1939 amendments to the original 1935 Social Security Act make sense today. It then assesses the role of employer-sponsored pension plans in securing retirement incomes. It suggests that the shift from defined benefit plans to defined contribution plans as the primary form of savings to supplement Social Security is the brightest ray of hope for the ailing retirement system.

Keywords:   retirement system, Franklin D. Roosevelt, Social Security, retirees, retirement security, retirement benefits, Social Security Act, employer-sponsored pension plans, defined benefit plans, defined contribution plans

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .