Tag: Reforming the Minimum Benefit
![Cheerful senior man at home looking at his mail](https://crr.bc.edu/wp-content/uploads/2022/11/social_security_2-1536x1025.jpg)
The brief’s key findings are: Social Security’s minimum benefit for retirees with very low career earnings does not prevent poverty and is withering away due to a design flaw. A broad consensus exists for enhancing this benefit to at least keep full-time, full-career workers out of poverty. Reform proposals, though, do differ over the extent…
![Senior woman putting coin into piggy bank at table](https://crr.bc.edu/wp-content/uploads/2016/11/Senior-woman-putting-coin-into-piggy-bank-at-table-1536x1024.jpeg)
Eliminating the actuarial reduction for a portion of benefits provides a basic income. The rise in Social Security’s Full Retirement Age from 65 to 67 has raised concerns about the adequacy of benefits of low-wage workers, who generally claim at 62 or 63. The rise in the Full Retirement Age will cut benefits claimed at…