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Economic Commentary

Social Security: Are We Getting Our Money's Worth?

Consider the following investment scenario. You tum over 10 percent of your salary each year to an investment manager who pools your contributions with those of others to form something that looks like a mutual fund. The manager assembles a portfolio that ends up earning a meager rate of return less than 1 percent after adjusting for inflation.

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit for updates.

Suggested Citation

Gokhale, Jagadeesh, and Kevin Lansing. 1996. “Social Security: Are We Getting Our Money's Worth?” Federal Reserve Bank of Cleveland, Economic Commentary 1/1/1996.