Tag: FRA
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 be one way to ensure an adequate retirement with less reliance on…
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 be filled by drawing down the trust fund that was built up after the 1983…
