Social Security faces a major financing shortfall. One policy option for addressing this shortfall would be to raise the earliest age at which individuals can cEngelhardt, Gary V.Gruber, JonathanKumar, AnilSocial Science Electronic Publishing
“Working in retirement with suspended benefits is a great opportunity to increase your (Social Security) benefits for two reasons,” Kemp notes. The SSA will recalculate your benefits at age 70, considering your last few years of work. “Assuming that you're working at a higher rate than wh...
Phillips, "Who Takes Early Social Security Benefits: The Economic and Health Characteristics of Early Beneficiaries," Gerontologist 36, no. 6 (December 1996): 789-99; and Congressional Budget Office, Raising the Earliest Eligibility Age for Social Security Benefits (Washington, DC, 1999), available...
Survivor benefitsare determined by the age an individual dies and the amount of Social Security credits they had accrued. By waiting to claim benefits, you will have a greater number of credits and hence a larger benefit, to pass on when you die. But how much of thatamount survivors can a...
That's because benefits increase by as much as 8% annually for each year a worker holds off on taking their payout until age 70. Statistically speaking, a majority of seniors would be better served by waiting until age 70 to begin taking their Social Security retirement benefit. But this ...
Both were contemplating taking early Social Security, even though the wife was going to work until age 66 (she would have to pay back part of the Social Security benefit received); and Both thought they weren’t eligible for any Social Security strategies because of the new laws...
Social Security benefits in 2022: How much more money you can expect Also keep in mind that you would not get the benefit from both your own record and the spousal benefit — you'd get the higher of the two. Using the above scenario: If your monthly benefit at age 62 would be less ...
Social Security: Raising the Retirement Age Background and Issues The Social Security "full retirement age" — the age at which retired workers, aged spouses, or surviving aged spouses receive benefits that are not reduce... G Kollmann - Library of Congress. Congressional Research Service. 被引...
Health and Retirement Study (HRS) linked to administrative records, we find that Social Security coverage is quite uneven in the older population: one-quarter of respondents in their late 50's lacks coverage under the Disability Insurance program, and one-fifth lacks coverage for old-age benefits...
Union (with comparisons to other industrialized countries including the United States and Canada), the authors demonstrate that the effective retirement age is influenced by social security regulations (such as a change in eligibility age) and discuss ways of measuring these embedded incentives. Fenge...