How Same Sex Marriage Affect Retirement Income and Government Budgets

Guest speakers

Stephen Rose
Karen E. Smith
“How Same Sex Marriage Affect Retirement Income and Government Budgets”

They will discuss their new paper on using DYNASIM to estimate the impact of legal same-sex marriage on retirement income and government budgets.

Tuesday, November 15, 2016

Noon-1:00 p.m.

Tax Foundation
1350 G Street #950
Washington D.C.

Dr. Stephen J. Rose is a Research Professor at the George Washington Institute of Public Policy and a nationally-recognized labor economist who has been doing innovative research and writing about the interactions between formal education, training, career movements, incomes, and earnings for the last 35 years.

Karen Smith is a senior fellow in the Income and Benefits Policy Center at the Urban Institute, where she is an internationally recognized expert in microsimulation. Over the past 30 years, she has developed microsimulation models for evaluating Social Security, pensions, taxation, wealth and savings, labor supply, charitable giving, health expenditure, student aid, and welfare reform.

How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits

Guest speaker Peter Brady

He will be discussing his new book:

“How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits”

Thursday, March 10, 2016
Noon – 1pm

The Tax Foundation
1325 G Street, NW
Suite 950
Washington, DC 20005

Assuring retirement security is a challenge for American workers, for their employers—and for the country’s policymakers. Government policy supports retirement preparedness primarily through two mechanisms: Social Security, which is a mandatory contributory pension for all workers, and tax deferral, which provides incentives for employers to offer and workers to participate in voluntary retirement plans.  Yet the combined effect of these two mechanisms is poorly understood—and subject to widespread myths.

In a new book, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, economist Peter Brady of the Investment Company Institute challenges the notion of an “upside-down” retirement system that only benefits the wealthy.

Brady’s innovative work is the first to use a consistent metric—a tax expenditure estimate—to measure the benefits of both tax deferral and Social Security. It illustrates that higher earners benefit more from tax deferral not because of their higher tax rates, but because the design of Social Security creates a strong incentive for them to defer more of their compensation.

In findings that bear directly upon today’s pressing policy debates, Brady demonstrates that the full system of government support for retirement is indeed progressive and warns that tax proposals to limit or fundamentally change tax deferral would actually make the code less fair.