Actions for Adjusting government policies for age inflation

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Adjusting government policies for age inflation / John B. Shoven, Gopi Shah Goda

Author
Shoven, John B.
Published
Cambridge, MA : National Bureau of Economic Research, [2008]
Copyright Date
©2008
Physical Description
29 pages : illustrations ; 22 cm.
Additional Creators
Goda, Gopi Shah and National Bureau of Economic Research
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Summary
Government policies that are based on age do not adjust to the fact that a given age is associated with a higher remaining life expectancy and lower mortality risk relative to earlier time periods due to improvements in mortality. We examine four possible methods for adjusting the eligibility ages for Social Security, Medicare, and Individual Retirement Accounts to determine what eligibility ages would be today and in 2050 if adjustments for mortality improvement were taken into account. We find that historical adjustment of eligibility ages for age inflation would have increased ages of eligibility by approximately 0.15 years annually. Failure to adjust for mortality improvement implies the percent of the population eligible to receive full Social Security benefits and Medicare will increase substantially relative to the share eligible under a policy of age adjustment.
Subject(s)
Note
"August 2008."
Bibliography Note
Includes bibliographical references (pages 20-21).
Other Forms
Also available in PDF from the NBER World Wide Web site (www.nber.org).
View MARC record | catkey: 4677977