| NEW POLICY ANALYSIS
NCPSSM: The Ryan Roadmap and Social Security -- Laying the Groundwork for Future Benefit Cuts
April 2011
Quick Take:
Representative Paul Ryan, House Budget Committee Chairman, proposed a budget that would amend the Social Security Act to include a "fast track" plan, that would encourage the development of proposals to cut Social Security benefits and go through congress with a "fast track" legislative procedure.
National Women's Law Center: House GOP Budget Takes Trillions from Women and Families, Gives Trillions to Millionaires and Corporations
April 2011
Quick Take:
Two-thirds of spending cuts from the House GOP budget would come from programs that help low- and middle-income Americans. At the same time, tax breaks are given to the wealthy and to corporations.
National Women's Law Center: What the FY 2011 Budget Deal Means for Women and Families
April 2011
Quick Take:
The FY 2011 Budget that was signed by the President on April 15 cuts funding for domestic and international programs, but will not be nearly as harmful as the cuts that were proposed in HR 1. The continued resolution saves funding for many vital programs, like Head Start and Pell Grants, but also reduces funding for programs such as Youthbuild and the Senior Community Service Employment Program. In addition, while funding for reproductive health care has been maintained, D.C is not allowed to use funds to pay for abortions for low-income women.
CBPP: Proposed Cap on Federal Spending Would Force Deep Cuts in Medicare, Medicaid, and Social Security: Would Likely Require Radical Changes Such As Medicare Privatization, a Medicaid Block Grant, and Repeal of Health Reform
Edwin Park, Kathy Ruffing, and Paul N. Van de Water
Revised April 2011
Quick Take:
Senators Bob Corker and Claire McCaskill recently introduced a proposal that would limit federal spending to no more than 20.6 percent of GDP. This proposed legislation, the Corker-McCaskill bill, would require large cuts to Social Security, Medicare and Medicaid. They propose for across-the-board cuts to take place from 2013 through 2021, and these cuts would grow in the following years. Other proposals, such as the Senate Republican leaders' proposed constitutional amendment, would also cap spending and cause deep cuts to these programs.
CEPR: The Wisconsin Retirement System is One of the Healthiest in the Country
March 2011
Quick Take:
According to new reports by COWS and CEPR, the Wisconsin Retirement System (WRS) is financially stable and doing well, but Governor Walker and other conservatives continue to argue that the fund is in trouble. CEPR writes that the WRS requires little or no reform. Public sector workers do not have pension benefits that are too high, as conservatives argue. Walker's proposal to increase their pension contributions will actually only cut their pay.
CEPR: The Origins and Severity of the Public Pension Crisis
Dean Baker
February 2011
Quick Take:
State and local pension funds are facing shortfalls, but, as CEPR notes, it is manageable. The downturn in the stock market was the root cause of this shortfall and pension funds.
EPI: Discounting Public Pensions: Reports of Trillions in Shortfalls Ignore Expected Returns on Assets
Monique Morrissey April 2011
Quick Take:
Last year, public pensions had about 78percent of what they needed set aside to pay for pension benefits. For most state and local governments, however, the necessary increase to pension contributions is sustainable.
EPI: CBO Budget Report Shows Little Change to Social Security Outlook
Robert Hiltonsmith
March 2011
Quick Take:
Only 59 percent of full-time workers have access to retirement plans at work, so a large portion of the workforce relies solely on Social Security benefits. Minorities, young people and low-income workers have the lowest access rates to work-based retirement plans. In addition, individual retirement plans are risky for workers. This report looks at various proposals for private retirement reform and promotes Guaranteed Retirement Accounts as a way to ensure a safer retirement plan for all working Americans.
NASI: Social Security Benefits, Finances, and Policy Options: A Primer
April 2011
Quick Take:
Social Security benefits are modest, but are the main source of income for most beneficiaries. In the future, benefits are going to replace a smaller share of earnings, due to the on-going increase in the full-retirement age. In order to secure Social Security's long-term funding, revenue increases or benefit cuts are needed. Social Security should continue to be funded at current benefit levels, since the program is strongly supported by Americans, who respond in survey after survey that they do not want their benefits cut.
UPCOMING EVENTS
OWL's 2011 Mother's Day Breakfast Briefing
Thursday, May 5th
9:30- 10:30am
Room H-137 in the US Capitol
At this event, the Older Women's League (OWL) will be releasing its 2011 Mother's Day report "The Affordable Care Act: America's Version of Health Care for All."
Speakers include:
Congresswoman Debbie Wasserman Schultz (D-FL)
Kathy Greenlee, Assistant Secretary for Aging, HHS (invited)
Margaret Hellie Huyck, OWL Board Chair
Click here to rsvp.
"WISER Celebrates 15 Year Anniversary!"
Come celebrate 15 years of Women's Institute for a Secure Retirement (WISER).
Wednesday, May 25
Capitol View Conference Center
101 Consititution Ave, NW, Washington, DC 20001
4:00-5:30pm Forum
5:30- 7:30pm Reception & Awards
Learn more about the festivities here.
"NASI at 25: Celebrating Milestones and Envisioning the Future of Social Insurance"
Wednesday, June 8, 2011
5:30-8:30pm
Washington Court Hotel
525 New Jersey Avenue, NW
Atrium Ballroom
Washington, DC 20001
United States
Click here to register for NASI's 25th anniversary celebration!
In January 2005, just as the debate on Social Security reform was getting underway, we launched the IWPR Women and Social Security Alert (WomenSSA). According to the positive feedback we received from you – our colleagues, our members, and advocates on this issue – this special alert system has proven to be a comprehensive resource in helping you to stay at the forefront of this topic and its effect on women. Please help us continue to produce this beneficial resource by contributing to our special Women and Social Security Alert Fund today! With your help, we will ensure the continued distribution of this important information on Social Security reform and those most affected – women. PLEASE CONTRIBUTE NOW!
Women and Social Security Alert
Institute for Women's Policy Research
phone: (202) 785-5100
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