Tag: Social Security’s minimum benefit

Cheerful senior man at home looking at his mail

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

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 any age by about 13 percent, which could push a significant number of…