The President's proposed change in the Social Security benefit structure is essentially a plan known as "progressive price indexing," which has been designed by investment executive Robert Pozen. Analysis by the Social Security Administration's actuaries shows that Mr. Pozen's plan would reduce benefits for average earners retiring in 2075 by 28 percent, relative to the current benefit structure, and that this reduction would apply equally to retirees, survivors, and people with disabilities.
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