Archive: Alicia H. Munnell
Our Social Security program is well-structured, but with one major flaw. I’ve been scratching my head since President Trump announced in early December that the administration is considering developing a national retirement savings system like Australia’s superannuation program. Yes, our system is not perfect, but it’s not clear what we get from Australia at this…
Social Security was originally intended for retirement. Many older people, however, report receiving both wages and Social Security benefits. That pattern is surprising given the enormous advantage of claiming as late as possible – monthly benefits claimed at age 70 are 76 percent higher than those claimed at 62 – and the fact that t…
