Tag: Social Security benefits
![older_workers_10](https://crr.bc.edu/wp-content/uploads/2022/11/older_workers_10-1536x1028.jpg)
Abstract Recessions affect the timing of retirement through two channels, a weaker job market and losses in household wealth. The two phenomena have opposite effects. A weaker economy causes employers to increase permanent job separations and reduce new hires, accelerating retirements that would otherwise have occurred later. Falling household wealth reduces the resources available to…
![Their finances are in the green](https://crr.bc.edu/wp-content/uploads/2022/11/social_security_3-1536x1025.jpg)
The brief’s key findings are: While Social Security beneficiaries received no COLA this year, they are still ahead of the game. The reason is that they received a larger-than-usual COLA in 2009, which took effect right after prices dropped due to the economic crisis. But individuals who turned 62 in 2009 are not so lucky…