Social Security Challenge:

The Social Security Challenge is a game from the American Academy of Actuaries that allows you to explore various reform ideas for Social Security’s long-term solvency.

Playing the Game:

• Visit the Social Security Challenge website: https://www.actuary.org/socialsecurity
• Explore the virtual town and interact with different characters representing various viewpoints on Social Security reform.
• Make choices about potential solutions, like raising the retirement age, increasing payroll taxes, or reducing benefits.

Once you’ve played:

• Reflect on the options you considered.
• Think about the trade-offs involved in each solution.

Discussion Prompts:

• Off-Limits Options: Were there any options you considered unacceptable and why? (e.g., drastic benefit cuts for current retirees)
• Your Chosen Solutions: What reforms did you choose to implement and why? (e.g., gradual increase in retirement age, means-tested benefits)

Discussing with Classmates:

When responding to your peers’ posts, consider these points:

• Ask clarifying questions: Did you prioritize long-term solvency or protecting current beneficiaries?
• Explore different approaches: What were the reasons behind their choices?
• Find common ground: Are there solutions both of you find acceptable with adjustments?

Remember:

There’s no single “perfect” solution. The goal is to understand the challenges and explore potential reform options with their consequences.