This tag is associated with 5 posts

US / It is more important to maintain spending on Social Security, Medicare and programs to help the poor than to reduce the deficit pool says

Nearly seven-in-ten (69%) say it is more important to maintain current Social Security and Medicare benefits than to reduce the deficit, while 59% prioritize keeping current levels of spending for programs that help the poor and needy over deficit reduction Continue reading

US / Why Is Age 65 Still a Retirement Peak?

‘In order to address an immediate and long-term funding problem, the Social Security Amendments of 1983 gradually increased the Full Retirement Age (FRA), changed the actuarial adjustment for individuals claiming benefits between the early and full retirement ages, and increased the delayed retirement credit. Together, these changes increase the financial gain to individuals who delay … Continue reading

Medicare Cuts Would Cost 500,000 Jobs

Near­ly 500,000 jobs will be lost next year alone if a 2% auto­mat­ic cut in Medicare spend­ing man­dat­ed fol­low­ing last year’s debt ceil­ing cri­sis takes effect, three major health­care orga­ni­za­tions charge. In 2013, more than 496,000 jobs will …

Update | AS Social Security run out of money retirement at age 65 could be delayed

Social Security program to run out of money by 2035 | Economy | News | Financial Post The Social Security program will exhaust its trust fund in 2035 and have to start reducing benefits to senior citizens unless Congress intervenes, its trustees said. That is three years sooner than projected in 2011 for the retirement … Continue reading

Expected time in retirement at age 65 is more than 40 percent longer than in 1940

Raising the ages at which people can collect Medicare and Social Security would reduce federal spending and increase federal revenues by inducing some people to work longer. However, raising the eligibility ages for those programs also would reduce people’s lifetime Social Security benefits and cause many of the people who would otherwise have enrolled in … Continue reading

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