Tag: Social Security
About 5 million employees in state and local government are not currently part of the Social Security system. Federal law tries to protect them by requiring that their traditional government pensions provide the same retirement benefits they would receive if they and their employers were instead contributing to Social Security. But the Center for Retirement…
Previous research has shown that spending drops immediately at the moment the paychecks stop, and a few studies have found that households, once retired, reduce their consumption over time. But a new study that also takes the long view suggests that the spending decline is not what retirees want to do but what is necessitated…