WASHINGTON -- April 20 -- An updated online Social Security calculator featuring user-friendly graphics was released today by the Center for Economic and Policy Research (CEPR) and the Institute for Women's Policy Research (IWPR). The Accurate Benefits Calculator (ABC) enables workers to compare the benefits they would receive under President Bush's Social Security privatization plan to their benefits under current law. It evaluates benefits based on variables such as realistic stock return projections, administrative fees and time off work.
Originally launched February 22, 2005, the online calculator now provides users with graphically displayed results, clear explanations, and a more user-friendly interface. In addition, users can change certain underlying assumptions of the calculator, such as expected stock returns and administrative fees, to see the change in their expected benefits.
ABC's calculations are based on details laid out in Reform Model 2 of President Bush's Commission to Strengthen Social Security and all updated details provided by the Bush administration. The basis for the benefit projections is carefully derived from the Congressional Budget Office's projections for Social Security and fully documented.
Access the calculator at: www.cepr.net/calculator/calculator.html
For a walk-through and list of special features, see: http://www.cepr.net/calculator/calculator_resources_page.htm
The Center for Economic and Policy Research is an independent, nonpartisan think tank that was established to promote democratic debate on the most important economic and social issues that affect people's lives.