New Cato Calculator Released

October 8, 2001

The Cato Institute has unveiled its next-generation Social Security Calculator, a technologically advanced tool that can tell workers for the first time how they would do under a partially privatized Social Security system. The new calculator allows workers to compare their projected future benefits under the current Social Security system with the benefits that they could receive under a variety of privatization scenarios, ranging from full privatization to as little as 2 percentage points.

In addition, the new Cato calculator works on a prospective basis, meaning that it calculates benefits from privatization from this time forward and combines them with already earned Social Security benefits. As a result, workers can see exactly what privatization would mean for their retirement.

This new version of the Cato calculator also contains features to fully account for such factors as spousal benefits, administrative costs, and different investment options. The end result is the most sophisticated tool available for examining privatization proposals and their impact on individual workers.

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