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Thought Leaders Weigh In on Social Security Reform
The Peter G. Peterson Foundation (PGPF), a nonpartisan organization focusing on the nation’s fiscal issues, provides various forums for policy influencers to contribute to the legislative conversations shaping the future for America’s seniors. PGPF’s Solutions Initiative 2024 is one such…
AI and Social Security—Perfect Together? Maybe Not!
The headlong rush into artificial intelligence (AI) these days produces a steady stream of new players. As a concept, though, AI dates back several decades, with a simple mission of using computer science and robust datasets to enable problem-solving. The…
On Social Security Solvency, No Surprise… Americans Want Action!
Hardly a day goes by that doesn’t present media accounts of Social Security’s long-term financial problems, most with dire projections of a substantial benefit reduction in about a decade. The hand-wringing is intense, often highlighting the terrible effects of an…
Challenging the “Tax the Rich” Pathway to Solvency
It’s a frequent refrain when addressing Social Security’s insolvency problem: “Make the rich pay their fair share.” You heard it in the State of the Union messaging earlier this year, you heard it in the recent presidential election debate, and…
Analyzing the Republican National Party’s Social Security Position
As the dust settles from last week’s Republican National Convention, attention will of course turn toward the specific platform components the Trump Campaign will promote in the run-up to November. One of these components key to America’s seniors is the…
Social Security special minimum benefit program
Social Security special minimum benefit program is a special minimum primary insurance amount (PIA) enacted in 1972 to provide adequate benefits to long-term low earners. For individuals with a long history of low earnings, the special minimum benefit could be…
Women and retirement savings
At the end of 2022, the average monthly benefit check for a retired woman was $1,638 compared to $2020 for a retired man, according to a report from the Social Security Administration. Why? Women tend to earn less than men,…
Is delaying your benefits worth it?
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. But, if you delay taking your benefits from your full retirement age up to 70, your…
Is it an under-saving issue or a retirement crisis?
Do Americans have a retirement crisis or an under-saving for retirement issue? According to the Boston College Center for Retirement, their research shows almost 40 percent of working-age households cannot maintain their standard of living in retirement. However, 80 percent…
Choosing the right self-employed retirement plan for you
According to the Bureau of Labor Statistics, almost 16 million Americans are self-employed. There are benefits to being self-employed, including being one’s boss, but there are downsides. One is you must take control of your retirement planning. It can be…