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Policymakers should retain wage indexing of both the Average Indexed Monthly Earnings and the thresholds used in the formula for the Primary Insurance Amount.
Policymakers must maintain adequate funding rules for defined-benefit pension plans.
Employers should be required to keep plan participants informed adequately and in a timely manner about the state of plan funding.
The Department of Labor must stringently enforce fiduciary rules to ensure that pensions are handled prudently and in the best interest of plan participants and beneficiarie
Public retirement systems should establish a maximum vesting period of five years for DB plans and one year for employers’ matching contributions to defined contribution or hybrid plans.
Minimum distribution requirements for retirement savings should periodically be examined to reflect changes in life expectancy and income needs at older ages while ensuring the collection of deferr
The Old-Age, Survivors, and Disability Insurance Trust Funds should maintain a minimum reserve of one and a half to two years as a cushion against an economic downturn.
AARP supports retaining wage indexing of both the Average Indexed Monthly Earnings and the bend points used in the formula for the Primary Insurance Amount.
If changes are made to Social Security that extend the life of the trust funds, Congress could authorize the investment of a portion of the Social Security reserves in investments