Proposed “Cradle Act” would add to America’s retirement crisis
A Congressional bill known as “The Cradle Act” was recently introduced in Congress proposing to use future Social Security benefits to pay for parental leave earlier in life. The concept under the Act, is that parents could get early benefits during a parental leave, but would sacrifice benefits later in life when it became time to collect their Social Security. Essentially, time taken off for parental leave would be added to their “full retirement age”, in effect lowering their Social Security benefit amount later in life. In this Des Moines (IA) Register column by Social Security pundit Brenton Smith, the author opines that the proposed Cradle Act will only add to America’s retirement crisis. Click here to read more.