第11章 社会保障（课件）- 《财政学（第十版）》同步教学（人大版）

SOCIAL SECURITY Chapter 11 Social Security Expenditures (1939-2011) 800 6 700 600 500 400 3 00 2 100 0 1937 1945 19531961 1969 1977 1985 1993 2001 2009 Year -2011 billions -Percent of GDP Source:Social Security Trustees [2012]. 11-2 Why Have Social Security? Consumption Smoothing and the Annuity Market How Social Security works Annuity Consumption smoothing Adverse Selection and the Annuity Market Asymmetric information -Adverse selection 113 Other Justifications Lack of foresight and paternalism 。Moral hazard Economize on decision-making and administrative costs Income Redistribution Improve the Economic Status of the Aged 11-4 Fully Funded Plan Period 1 Period 2 Period 3 Period 4 The Greatest Work Retire Dead Still Generation contribute benoc Dead Each generation's The Baby Boom Childhood benefits based on deposits it made Dead Generation during working life plus accumulated Unborn interest Generation X Retire contribute benefits 115 Pay As You Go (or Unfunded)System Period 1 Period 2 Period 3 Period 4 benefits Each generation' s benefits come The Greatest Work Retire from tax Generation payments made contribute benefits d by current workers The Baby Boom Childhood Work Dead Generation contribute benefits Generation X Unborn Childhoed Work Retire contribute benefits 11-6 Today's Partially Funded System Period 1 Period 2 Period 3 Period 4 benefits Baby Boomers and Gen X are also The Greatest Work Retil contributing to their Still Generation own retirement contribute benet Dead The Baby Boom Childhood Work Retire Dead Generation contribute benefits Generation X Unborn Childhood Work Retire contribute benefits 11-7 Explicit Transfers Benefits for dependents and survivors(1939) Supplemental Security Income 11-8 Benefits How to calculate benefits AIME (Average Indexed Monthly Earnings)- average monthly earnings in 35 highest paid years Wages indexed for inflation Ceiling on AlME-up to tax ceiling 11-9 Benefit Structure If AIME<S711-PIA=.90*AIME If5711<AIME<S4288→PIA=.