HOUSE_OVERSIGHT_020970.jpg
1.27 MB
Extraction Summary
2
People
5
Organizations
0
Locations
0
Events
0
Relationships
3
Quotes
Document Information
Type:
Presentation slides / financial report
File Size:
1.27 MB
Summary
This document contains two presentation slides (pages 257 and 258) from a report titled 'USA Inc. | What Might a Turnaround Expert Consider?' produced by KPCB (Kleiner Perkins). The slides propose mathematical illustrations for restructuring Social Security, specifically suggesting increasing the retirement age from 67 to 73 (Slide 1) and reducing benefits by 12% (Slide 2). The document bears a House Oversight Committee Bates stamp (HOUSE_OVERSIGHT_020970).
People (2)
| Name | Role | Context |
|---|---|---|
| Melissa M. Favreault | Researcher/Author |
Cited as source from The Urban Institute regarding raising Social Security retirement age
|
| Richard W. Johnson | Researcher/Author |
Cited as source from The Urban Institute regarding raising Social Security retirement age
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| KPCB |
Kleiner Perkins Caufield & Byers (Logo present on slides, website listed)
|
|
| The Urban Institute |
Source organization for data on Slide 1
|
|
| Social Security Administration |
Source organization for data on Slide 2
|
|
| USA Inc. |
Name of the presentation/report listed in the footer
|
|
| House Oversight Committee |
Source of the document via Bates stamp
|
Key Quotes (3)
"Increase full retirement age to 73 will reduce average life expectancy at retirement to the same level as when Social Security was introduced in the late 1930s."Source
HOUSE_OVERSIGHT_020970.jpg
Quote #1
"Reduce Social Security Benefits by 12%, Immediately & Permanently"Source
HOUSE_OVERSIGHT_020970.jpg
Quote #2
"These calculations are merely mechanical illustrations and are not meant to portray realistic solutions."Source
HOUSE_OVERSIGHT_020970.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (1,824 characters)
Restructure Social Security: Mathematical Illustration #1 – Increase Retirement Age From 67 to 73
Increase Retirement Age
[Chart showing Full Retirement Age (Years) going from 67 (Current) to 73 (Proposed) with a +9% arrow]
Current
Proposed
Proposed
Note: For mathematical illustrations, we simply calculate how big a revenue increase AND / OR expense decrease each major entitlement program needs to reach financial break-even. These calculations are merely mechanical illustrations and are not meant to portray realistic solutions.
Note: Increase full retirement age to 73 will reduce average life expectancy at retirement to the same level as when Social Security was introduced in the late 1930s. Source: Melissa M. Favreault and Richard W. Johnson, The Urban Institute, "Raising Social Security's Retirement Age," 7/10.
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 257
Note: Increase full retirement age to 73 will reduce average life expectancy at retirement to the same level as when Social Security was introduced in the late 1930s. Source: Melissa M. Favreault and Richard W. Johnson, The Urban Institute, "Raising Social Security's Retirement Age," 7/10.
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 257
Restructure Social Security: Mathematical Illustration #2 – Reduce Social Security Expenses (Benefits) By 12%
Reduce Social Security Benefits by 12%, Immediately & Permanently
[Chart showing Average Annual Social Security Payments per Beneficiary ($) going from $13,010 (2009) to $11,489 (2010 & Beyond) with a -12% arrow]
2009
2010 & Beyond
2010 & Beyond
Note: For mathematical illustrations, we simply calculate how big a revenue increase AND / OR expense decrease each major entitlement program needs to reach financial break-even. These calculations are merely mechanical illustrations and are not meant to portray realistic solutions.
Source: Social Security Administration forecast in "The 2010 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds," 8/10.
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 258
Source: Social Security Administration forecast in "The 2010 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds," 8/10.
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 258
HOUSE_OVERSIGHT_020970
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