|
|
Article: AICPA initiates debate on Social Security reform.(study report 'Understanding Social Security Issues and Alternatives')
- Article from:
- Tire Business
- Article date:
- January 1, 1999
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
According to projections made by the Social Security Administration, fund balances will peak in 2012. In 2032, annual payments will exceed collections by 25%. And, by that time, Social Security will pay retirees only 75% of promised benefits.
In an attempt to make sense of these dire predictions and many proposals to reform the fund, the taxation section of the AICPA recently released Understanding Social Security: Issues and Alternatives.
This tax policy study brings together a vast body of knowledge on Social Security issues and provides readers with a summary of the reform alternatives, said Carol Ferguson, a technical manager in the AICPA tax ...