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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. Does anyone know how high up the income ladder we need to move the cap to keep the program solvent for the next 75 years? An increase to $200k would be around an extra $5000  - manageable at that level, and perhaps it could even be viewed  as a wise " investment"' to ensure the program is solvent when it's time to claim. (The other "half" would have to be paid by the employer, but again, not a deal-killer at that level.)

While I like the idea of raising the cap, for political purposes it would be easier to get through if changes are seen as a "shared burden." How high would the cap have to be raised if we ALSO moved the retirement age up by one year, gradually over time?

I ask because we seem to have some very knowledgeable people responding. Anyone know the numbers?

[/quote]

Hi OP,

I'll try to put something together tomorrow afternoon (I need to get some sleep now ;)). It's a little complicated because the solvency impacts depend on the phase-in periods, whether you pay more benefits or not on the new contributions over the current limit, and so on. You might want a few more provisions if you don't want the contribution limit or the retirement age to go too high.

In the meantime, here's a nifty online SS solvency game from the American Academy of Actuaries: http://socialsecuritygame.actuary.org/#gradually-increase-full-retirement-age

Here are some other helpful sources: http://crr.bc.edu/wp-content/uploads/2011/08/SS-Fixit_9.4.14_WEB.pdf
         Bhttp://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html[/quote]
Thanks so much. I'll look for whatever you can put together tomorrow - and I'll also take a look at your sources. (Tomorrow for me, too....time to go to sleep here too.)[/quote]

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