Eliminating the wage cap for Social Security taxes and requiring all newly-hired state and local workers to participate in the program would have the greatest benefit for the greatest number of workers of the major Social Security reform options, the Employee Benefit Research Institute (EBRI) concluded in a study released on March 2.

The two measures, according to the study, would provide higher initial benefits for more retirees than would a reform package that includes the personal investment accounts that President Bush wants made a part of the program. The personal accounts plan, though, would provide higher benefits than leaving the program untouched.

The full report and a press release that summarizes the findings are available on the EBRI Web site.