Tag: full retirement age
Abstract Over the past two decades, the share of individuals claiming Social Security at the Early Eligibility Age has dropped, and the average retirement age has increased. At the same time, Social Security rules have changed substantially, employer-sponsored retirement plans have shifted from defined benefit (DB) to defined contribution (DC), health has improved, and mortality…
House Ways and Means Subcommittee Chair proposes 31-percent cut in benefits. In December, House Ways and Means Social Security Subcommittee Chairman Sam Johnson introduced a bill to “save” Social Security. The problem is that he accomplishes this goal through a dramatic cut in benefits. As shown in Figure 1, Social Security costs at the end…
