Retirees continue to work - CBS News
A recent report shows around 10 percent of older Americans receive income from Social Security, a defined benefit pension, and a defined contribution plan. The Social Security Administration reports among Social Security beneficiaries aged 65 and older, 37 percent of men and 42 percent of women receive 50 percent or more of their income from Social Security. And among Social Security beneficiaries aged 65 and older, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. So how are those individuals surviving; according to Teresa Ghilarducci, labor economist, “The majority of older Americans are either retired, but living below the standard of living they enjoyed while working, or still working because they cannot afford to stop.” Aimee Picchi reports on Ghilarducci’s research and her proposed plan to shore up retirement for millions of Americans. Read Ms. Picchi’s article here…
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