While some think tanks and congressional staffs are exploring ways to strengthen Social Security financially, others are looking into outmoded provisions that penalize beneficiaries, primarily women.
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Casey, ranking member of the Senate Special Committee on Aging, said in a statement. Speaking of women and Social Security, another effort would award work credit for those who temporarily leave the labor force because of caregiving responsibilities. In the s, when the Social Security Act was passed and then amended, policymakers assumed that women stayed home while men worked.
Spousal and survivors benefits represented an attempt to provide for wives and minor children who had no work histories of their own. Eschtruth, co-author of a recent international survey of caregiver credits.
It also reflects the fact that as women have poured into the work force, they may qualify for Social Security retirement benefits based on their own work histories. But because women earn less and are more likely to have spent uncompensated years as caregivers, their retirement benefits can still suffer.
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Eschtruth asked. The answer, at the moment, is that it barely does, at least in the United States. Most other industrialized countries credit some years of caregiving when calculating retirement benefits, the Boston College survey found.
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Sign in. Not registered? And even that might not be enough to overcome the demographic headwinds: There are millions more Baby Boomers than the following demographic group, Generation X, resulting in fewer workers supporting more retirees.
Social Security, Demographics, and Risk - Christoph Hendrik Borgmann - Google книги
Life spans are slowly rising, moreover, as is the cost of medical care. Indeed, the latest report points out that for the program to remain solvent, the payroll tax rate would permanently have to increase by 2.
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Richard Thaler, a Nobel-prize winning economist at the University of Chicago, floated that idea last week at an event hosted by the Brookings Institution, according to Investment News. Of course, that might sound like shuffling money from one pot to another. But it may off-load some actuarial and investment risks from individuals to the federal government.
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