Retirement

The Institute released Understanding Social Security Reform: The Issues and Alternatives, a comprehensive analysis by AICPA tax, accounting and economic specialists of the benefits and drawbacks of many current reform proposals. The report assesses the program’s financial condition; its importance to the elderly living in poverty; how reform could affect the redistribution of income and workers’ retirement plans; how to balance investment risk with the pursuit of higher returns; and the funding challenges reform might involve ( www.aicpa.org/members/socsec.htm ). “The Social Security system’s viability affects most Americans,” said Thomas P. Ochsenschlager, AICPA vice-president of taxation, “so it’s important to thoroughly analyze the issues before making any changes. Our study adds knowledge to the debate.”