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Elected leaders know voters resist present sacrifice for future benefit.
For example, $3 billion was owed to pensioners for future benefits.
We then explicitly assess whether they pay for immediate reproductive benefits (pay-to-reproduce hypothesis) or whether benefits are not immediately acquired (suggesting they pay-for-future benefits).
3. Future Benefit.
Further, in our analysis, we discounted the value of future benefits at 5% which is very conservative and we assumed that all of these systems were perfectly maintained and in pristine operating condition for the whole period.
She added: "For the approximately 180 FT Group employees impacted by the change, in addition to maintaining all of the pension benefits they accrued in the previous plan, we are offering £13m in dedicated funding to help manage and reduce the impact on future benefits".
No money was saved to pay for future retiree benefits.
And workers get credit for the full tax for purposes of calculating their future benefits.
Yet the scientist, who has been on the look-out for the bird for more than 20 years, maintains that taking one individual from a population will have important future benefits.
Mr. Moynihan maintains that the money raised today through Social Security taxes affects future benefits only indirectly.
BEST: "Personal earnings & benefit estimate statement," an on-line request for your social security earnings, tax history and future benefits.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com