Social Security and Retirement Policy by Andrew Biggs
Andrew Biggs: CPS data on retirement plan availability is unreliable
Andrew Biggs questions the reliability of the Current Population Survey (CPS) in assessing retirement plan availability. He points out that the CPS indicates declines in retirement plans that are ...
2030s retirees promised 33 percent higher benefits than lifetime taxes paid, Andrew Biggs notes
Andrew Biggs points to Congressional Budget Office data showing that the average American set to retire in the 2030s is expected to receive 33 percent more in benefits than they contributed in ...
Andrew Biggs: Social Security maximum taxable wage in 1970 was $6,186
Andrew Biggs points out that in 1970, prior to major benefit increases in the 1970s, the Social Security maximum taxable wage was $6,186. He relates this historical context to current ...
Average Social Security income for two-person households is 2.15 times poverty line, Andrew Biggs notes
Andrew Biggs states that, when measured accurately, the average Social Security benefit for a two-person household amounts to 2.15 times the poverty threshold before factoring in any personal ...
Andrew Biggs: Social Security funding discussed on Broadcast Retirement Network
Andrew Biggs is addressing the topic of Social Security funding in a discussion with Jeffrey Snyder on the Broadcast Retirement Network. The conversation is focused on the current state and ...
Social Security seen as outdated forced saving method, Andrew Biggs argues
Andrew Biggs compares Social Security to forced saving programs, arguing that much of its function resembles mandatory savings rather than insurance. He points out that while Social Security may ...
Andrew Biggs: $1,300 annual tax increase would address 40 percent of U.S. Social Security deficit
Andrew Biggs highlights that a $1,300 annual tax increase, which 77 percent of Americans oppose, would resolve approximately 40 percent of the U.S. Social Security deficit. He adds that while a ...
Discussion on 2026 Social Security Trustees Report scheduled, Andrew Biggs notes
Andrew Biggs is inviting audiences to tune in on Friday for an event hosted by @aeiecon focusing on the 2026 Social Security Trustees Report. The event promises to present facts and opinions not ...
Andrew Biggs: Social Security deficit rises 16 percent due to OBBA and fertility assumptions
Andrew Biggs reports that Social Security's long-term deficit has increased by 16 percent, primarily due to the OBBA and updated, more realistic fertility assumptions. He also highlights that a ...
Seniors rank as most financially secure, Andrew Biggs notes
Andrew Biggs highlights recent findings from the Federal Reserve's Survey of Household Economics and Decisionmaking, indicating that seniors are currently the most financially secure age group. ...
Andrew Biggs: Most U.S. seniors say they have enough money for comfortable retirement
Andrew Biggs, industry influencer, points to new data from Gallup showing that 82% of U.S. seniors believe they have enough money to live comfortably in retirement. Biggs suggests that despite ...
Fertility optimism factored into U.S. Social Security projections, Andrew Biggs notes
Andrew Biggs draws attention to the optimistic assumptions about fertility that are reflected in U.S. Social Security projections. In a brief post, Biggs points out the role such demographic ...
Andrew Biggs: Actual U.S. tax rate is less than statutory rate for Social Security
Andrew Biggs comments that the effective tax rate in the U.S., after accounting for Social Security benefits, is less than the official statutory rate. He notes that this means much of what is ...
Retirees can be financially secure with less than $1.46 million, Andrew Biggs notes
Andrew Biggs challenges the notion that $1.46 million is necessary for financial security in retirement. According to Biggs, seniors who describe themselves as living comfortably typically have ...
Andrew Biggs: Average American retiree in 2024 gets 39% higher inflation-adjusted Social Security payment than 2001
Social Security published its 2025 Statistical Supplement, according to Andrew Biggs. Biggs draws attention to data showing that the average American retiring in 2024 receives monthly Social ...
Changing Social Security for future benefits discourages work, Andrew Biggs argues
Andrew Biggs discusses an economic perspective on Social Security reforms. He explains that a policy honoring accrued benefits while worsening the terms for future contributions can have negative ...
Andrew Biggs: U.S. high earners get 21 percent Social Security replacement rate
The Organisation for Economic Co-operation and Development (OECD) finds that a U.S. worker earning three times the average wage, roughly $225,000, receives a Social Security benefit equal to 21 ...
