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OCR Page 1 of 22CENTER ON BUDGET
AND POLICY PRIORITIES
September 9, 1998
HOW WOULD VARIOUS SOCIAL SECURITY REFORM PLANS
AFFECT SOCIAL SECURITY BENEFITS?
An Analysis of the Congressional Research Service Report
by Kilolo Kijakazi and Robert Greenstein
Summary
In June of this year, Rep. Charles Rangel, ranking member of the House Ways
and Means Committee, released a Congressional Research Service analysis he had
requested on the extent to which three Social Security reform proposals would reduce
defined Social Security benefits. The three plans include:
the bill introduced by Senators Daniel Patrick Moynihan and Robert
Kerrey (S. 1792);
a proposal by the National Commission on Retirement Policy, a panel of
Members of Congress and private citizens organized by the Center for
Strategic and International Studies (legislation recently introduced in the
Senate by Senators Judd Gregg, John Breaux and a few other senators -
S. 2313 - and in the House by Reps. Jim Kolbe, Charles Stenholm, and
others - H.R. 4256 - is based on the NCRP proposal); and
a May 1998 proposal by Robert Ball, commissioner of the Social Security
Administration under Presidents Kennedy, Johnson, and Nixon and a
member of the 1994-1996 Social Security Advisory Council.
The CRS analysis was not designed to be a comprehensive analysis of all
components of these three plans, but rather an assessment of an important issue - the
degree to which the "defined," or guaranteed, benefits that beneficiaries would be
assured of receiving through the Social Security system would change under the three
plans. Accordingly, the study does not examine the retirement income that could be
generated by individual accounts, which the three plans all contain in differing forms.
1
The CRS analysis finds that the Social Security benefits guaranteed under the
three plans vary greatly.
1
The analysis also does not examine changes in payroll taxes or the effects of a few features of the
plans, such as proposals in some plans to eliminate the Social Security earnings test.
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