Reimagining Social Security: Global Lessons for Retirement Policy Changes

“As America’s Social Security program nears a fiscal tipping point, Reimagining Social Security challenges us to think boldly about the future. Combining expert perspectives, global lessons, and practical solutions, this timely book shows how the US can preserve retirement security while empowering individuals and shielding our grandchildren from rising debt and taxes.” —Olivia S. Mitchell, professor of business economics and policy, the Wharton School of the University of Pennsylvania

Social Security is headed for collapse. How can the United States make its retirement system sustainable without crushing the next generation under a mountain of debt or taxes?

America’s largest entitlement program turns 90 this year—and it’s on life support. There’s no trust fund, just IOUs from the federal government and trillions in borrowing to keep the program afloat. By 2033—just eight years from now—Social Security will go bust. If nothing changes, benefits will be slashed by 20 percent or more.

However, there is a remedy. Reimagining Social Security: Global Lessons for Retirement Policy Changes explains what is wrong with Social Security and how major retirement program reforms from Canada, Germany, New Zealand, and Sweden could work in the United States. Combining interviews and new analysis, this book lays out real-world solutions that protect seniors, preserve individual liberty, and fit the American economic model. Forget partisan gridlock. This is about smart, tested policies that work. Whether you’re a policymaker, scholar, or concerned citizen, this is essential reading for anyone who cares about the future of retirement in America.

Romina Boccia is the director of budget and entitlement policy at the Cato Institute, where she specializes in federal spending, budget process, economic implications of rising debt, and Social Security and Medicare reform. Boccia is a native of Augsburg, Germany, and received MA and BS degrees in economics from George Mason University. Ivane Nachkebia is a research consultant for budget and entitlement policy at the Cato Institute, with a primary focus on Social Security. Originally from the Republic of Georgia, Ivane completed his bachelor’s degree in economics at the International School of Economics in Tbilisi. He is currently pursuing a master’s degree in digital economy at the Vienna University of Economics and Business.