Many Americans think Social Security is a U.S. invention, a social policy unique to our country. They are terribly misguided. Social Security is a child of the Industrial Revolution and was first implemented in Germany in 1889. The idea of a large government entitlement has spread throughout the world and now about 70 percent of all countries have systems much like ours. These systems are financed through payroll taxes, provide low benefits relative to costs, and have unfunded liabilities well in excess of countries’ sovereign debt. Globally, Social Security is a ticking time bomb. The relevant questions are will it explode or will nations figure out a way to dismantle the bomb. Either way, no one will escape. In this presentation, Mr. Shipman will explain how we got to this critical point, what factors drive the escalating problem, and, importantly, how to solve the problem.