[20210611]IF11851_社会保障长期预测：为什么是75年？.pdf

https:/crsreports.congress.gov June 11, 2021Social Security Long-Range Projections: Why 75 Years?The Social Security Board of Trustees (Trustees) is required by law to report annually to Congress on the financial status of the Social Security trust funds. Since 1965, the Trustees have used a 75-year period for their long-range projections, based on the recommendation of the 1965 Social Security Advisory Council. This In Focus explains why the Trustees use a 75-year horizon for evaluating the financial status of the Social Security program under current law and, in turn, for evaluating the financial impact of Social Security legislative proposals. It also explains why comparing the valuation period used for Social Security with the valuation periods used for other systems, including private-sector defined benefit (DB) pension plans, can be misleading. Statutory Mandate The Social Security Act requires the Trustees to report annually to Congress on “the operation and status of the Trust Funds during the preceding fiscal year and on their expected operation and status during the next ensuing five fiscal years.” In practice, the Trustees report on the 10-year (short-range) financial o