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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
Congress should increase funding for the Social Services Block Grant (SSBG) and Community Services Block Grant (CSBG) programs. Funding should reflect the increased population of older Americans.
The federal government should require state CSBG and SSBG officials to consult with state and local agencies and organizations representing older people and other groups served by the programs.
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
The receipt of Social Security benefits should continue to be based on earnings from work covered by Social Security.
Policymakers should streamline and coordinate application procedures among different public-benefit programs.