New approaches to social security adequacy & solvency in the 21st century

OVERVIEW: the National Academy of Social Insurance and AARP hosted a day-long exploration of bold new ideas in Social Security policy. A diverse range of policy experts described and debated

their innovative ideas, many of which have never before been discussed in a public forum. Ideas presented include those selected in AARP’s Policy Innovation Challenge as well as other ideas

from retirement security experts. Policy Innovation Challenge: Social Security Adequacy and Solvency In 2016, AARP launched its Innovation Challenge to identify policy solutions to

strengthen Social Security. Learn more about these solutions by visiting: www.aarp.org/socialsecuritypolicy EVENT AGENDA WELCOME * WILLIAM J. ARNONE, CEO, National Academy of Social

Insurance SESSION 1: RETIREMENT SECURITY IN AN ERA OF INCREASING AND DISPARATE LONGEVITY * ANTHONY WEBB, The New School for Social Research, _“Catch-Up Contributions: A Voluntary, Equitable,

and Affordable Solution to the Retirement Savings Crisis”_ * OLIVIA S. MITCHELL, The Wharton School of the University of Pennsylvania,_ “Delayed Social Security Claiming: How to Enhance

Economic Security and Potentially Enhance System Solvency”_ * GARY KOENIG, Vice President, Financial Security, Public Policy Institute, AARP, _“Supplemental Transition Accounts for

Retirement”_ MODERATOR: MARK MILLER, Retirement Columnist, Reuters SESSION 2:  IMPROVING BENEFITS FOR LOW-LIFETIME EARNERS * PAMELA HERD​, Principal Investigator, Wisconsin Longitudinal

Study, University of Wisconsin Madison, “A Targeted Minimum Benefit Plan (MBP): A New Proposal to Reduce Poverty among the Elderly” * ELIZABETH JOHNS, Faculty Associate, Center on Aging,

University of Maine, _“A Revised Minimum Benefit Can Better Meet the Adequacy and Equity Standards in Social Security”_ * KENNETH COUCH, University of Connecticut, _“Adjust PIA Based on

Lifetime Earnings and Life Expectancy Trend”_ MODERATOR: JASON FICHTNER, Senior Research Fellow, Mercatus Center at George Mason University  LUNCHEON KEYNOTE: PETER DIAMOND, Institute

Professor Emeritus, MIT, _“The Future of Social Security.”_ SESSION 3: PROVIDING RETIREMENT SECURITY TO CAREGIVERS AND TO WORKERS IN A CHANGING WORKFORCE * CHRISTIAN WELLER, Professor of

Public Policy, McCormack Graduate School of Policy and Global Studies, University of Massachusetts, Boston, _“Expanding Qualifying Credit Options for Social Security Benefits”_ * DEBRA

WHITMAN, EVP/Chief Public Policy Officer, AARP, _“Add Pre-Retirement Education Benefits into Social Security”_ MODERATOR: KILOLO KIJAKAZI, Institute Fellow, Urban Institute SESSION 4:

ENSURING ADEQUATE REVENUE FOR SOCIAL SECURITY * BENJAMIN W. VEGHTE, Vice President for Policy, National Academy of Social Insurance, _“Implications of Income Inequality for Social Security’s

Contribution and Benefit Base” _ * KEN BUFFIN, Director of Research, The Buffin Foundation, _“Strengthening and Sustaining Social Security Finances Using New Automatic Adjustments”_ * PETER

DIAMOND, Institute Professor Emeritus, MIT, _“The Estate Tax as an Alternative Revenue Source”_ MODERATOR: KATHRYN EDWARDS, Associate Economist, RAND Corporation WRAP UP * DEBRA WHITMAN,

Executive Vice President and Chief Public Policy Officer, AARP