> American Social Security had an age of 65, but at the time of its passing life expectancy for American men was 58
That was life expectancy at birth. It makes more sense when considering retirement system design to consider the life expectancy of people who are at least old enough to be in the workforce.
Of the people who were 21 when Social Security passed around 65% of them survived to at least 65.
Of the people who were born around the time Social Security passed, over 70% of those that made it to 21 made it to 65.
That was life expectancy at birth. It makes more sense when considering retirement system design to consider the life expectancy of people who are at least old enough to be in the workforce.
Of the people who were 21 when Social Security passed around 65% of them survived to at least 65.
Of the people who were born around the time Social Security passed, over 70% of those that made it to 21 made it to 65.