The words earned income tax credit written on a green key on a computer keyboard

The Earned Income Tax Credit (EITC) – a refundable credit that rises with earnings up to a point before phasing out – is one of the federal government’s largest poverty reduction programs.  The EITC’s design – which yields no benefit to non-workers – has been found to encourage employment among lower-income individuals.  This rare combination…

Cropped shot of a group of senior female friends enjoying a lunch date

Measures of retirement preparedness often suggest that a substantial share of U.S. households are not on track to maintain their standard of living in retirement.  And many retirees report regret for not saving enough.  Yet, when asked about their life satisfaction, the overwhelming majority – 92 percent – of retired households say…

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The cost to employers of providing their workers with health insurance has remained fairly stable for years. At first blush,...

President Trump signing legislation at his desk

Impulsive initiatives are putting Social Security, the stock market, and the economy itself at risk. By attacking Social Security, crashing...

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Even the best-laid plans can go awry.  Individuals face many hurdles to adequate planning for retirement and, even when precautions are taken, they may be overwhelmed by a big enough shock.  In particular, large medical and long-term care spending shocks can devastate retirees’ hard-won finances…

Many who are familiar with state and local government finances are concerned that rising pension contributions could be crowding out important government services. And, some academic literature does find that higher pension contributions are associated with reduced employment in local governments and school districts. The issue is particularly acute for school districts, which must maintain…

The medium- and long-term effects of the COVID-19 pandemic are of continued interest to policymakers, advocates, and academics.  Given the importance of health in decisions to work, earn, and eventually claim OASI benefits, COVID may have long-term effects on programs SSA administers even well after the official end of the pandemic…

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Us social security cards and dollar bills.

Despite Trump’s assurances that Social Security is safe, senior Americans are increasingly afraid. System outages aren’t helping reassure them

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WALL STREET JOURNAL

Young savers are flocking to Roth IRAs. They are taking the advice of parents, workplace financial coaches and tax advisers, who have long preached the gospel of these accounts to save for retirement and even big purchases.