Tag: FRA
Let’s see if we agree on what the retirement age is today. With the projected depletion of the Social Security trust fund assets in the 2030s, policymakers are looking for ways to bridge the gap. One of the major proposals is to increase the retirement age. Certainly, with average life expectancy increasing, longer careers could…
Increasing the Full Retirement Age is not a third option; it’s an across-the-board benefit cut. In this campaign season, fixing Social Security is once again emerging as a major topic. As Figure 1 shows, the cost of the program as a percentage of payrolls is higher than revenues. In the short term, the gap can…
