Learning Objectives

After reading the chapter, you should be able to answer the following questions.

How has the economic status of the aged changed over recent decades?

What is the present status of the Social Security system, and what is its future?

What measures might be taken to ensure the viability of the Social Security system for future generations?

What is the difference between a defined benefit plan and a defined contribution plan?

How do personal savings contribute to the support of the aged?

2002 McGraw-Hill Higher Education
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