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Each year the Trustees of the Social Security system report on its financial health over the next 75 years. The 2011 Report shows that, despite reduced revenues and increased benefit claims in the short run, the system continues to face a 75-year deficit equal to about 2 percent of taxable payroll (see Figure). T…
The brief’s key findings are: Recent debates suggest that union power has led to higher public pension benefits. Interestingly, union strength appears to have no impact on the level or growth of benefits. Because pensions are legislated, not bargained, lobbying expertise may be more important than union size. In contrast, union strength does seem to…
