Funeral services are expensive. In 2019, the median funeral cost was $7,640—$5,150 for a funeral with cremation—according to the National Funeral Directors Association.
The Consumer Product Safety Commission (CPSC) has jurisdiction over more than 10,000 types of consumer products. Mandatory standards govern only a small number of products.
For many older adults, travel is important as a way to encounter new experiences, visit with friends and family, and obtain necessary medical care.
Social Security benefits are paid through a self-financing system.
Social Security program administration has multiple functions. It processes applications and payments and operates field offices around the country.
Some proposals to address Social Security solvency would adjust the calculation of initial benefits. Others adjust benefit growth over time.
Social Security benefits are calculated as a percentage of lifetime average earnings.
Older women experience higher poverty rates than older men. They also, as a rule, receive lower Social Security benefits.
From time to time, Social Security’s long-term solvency challenges have been used to justify basic structural changes.