1、1 The analysis in this report presents the effect on solvency of the IA component of reformproposals int the 108th Congress (see Table 1). Since the SSAs Office of the Chief Actuary hasnot published actuarial memoranda on any of the Social Security reform proposals introduced inthe 110th Congress, w
2、e are unable to update Table 1 of this report accordingly. As the analysisin Table 1 is based on the 2003 and 2004 Trustees Report assumptions, we use these assumptionsthroughout the report.Order Code RS22010Updated July 25, 2007Social Security: “Transition Costs”Laura HaltzelSpecialist in Social Se
3、curityDomestic Social Policy DivisionSummaryThe chief actuary of the Social Security Administration (SSA) forecasts that undercurrent law, the Social Security Trust Funds will be depleted in 2042.1 Many Membersof Congress have expressed concern that restoring the program to long-term fiscalbalance w
4、ill impose burdens on future generations by requiring them to pay higher taxes,accept benefit cuts, or undertake substantial government borrowing to pay the fullbenefits promised under current law.Some policy analysts have suggested that pre-funding Social Security benefitsthrough individual account
