Retirement Security Law Commons^™

Reforming Retirement Systems: Why The French Have Succeeded When Americans Have Not, Kathryn L. Moore

Law Faculty Scholarly Articles

In order to understand why the American Social Security system has been so resistant to change while the retirement systems in other countries have been amended, this Article analyzes why one country, France, was able to reform its retirement system significantly in 2003. The Article begins by briefly describing the French retirement system prior to 2003. It then provides an overview of the most significant changes wrought by the reform enacted in 2003. It then analyses why, after years of inaction and failed attempts to reform the French retirement system, the government succeeded in reforming the retirement system in 2003. …

Lessons From The French Funding Debate, Kathryn L. Moore

Law Faculty Scholarly Articles

The French retirement system, like the American social security system, is facing long-term funding difficulties. As a result, the French are debating whether to expand the role of pre-funded retirement plans. The economic arguments presented in this debate are virtually identical to the economic arguments presented in the American debate on whether the American social security system should be partially privatized.

The French and American debates, however, diverge once history and ideology are considered. The French have a history of failed funded pensions in contrast to the United States where the failure of prominent underfunded pension led to the enactment …

The Best Of Times And The Worst Of Times: Lessons From Recent Reforms Of The French Retirement System, Kathryn L. Moore

Law Faculty Scholarly Articles

Principally because of increasing life expectancy and the fact that the baby boom generation is reaching retirement age and is followed by a much smaller generation, the American social security system is facing a long-term funding deficit. The Board of Trustees of the Federal Old-Age and Survivors and Disability Trust Funds predicts that unless corrective action is taken, social security benefits will exceed dedicated tax revenues by the year 2016, and the social security system will become insolvent, that is, unable to pay benefits in full, by the year 2038.

The United States is not alone in facing these circumstances. …