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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
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.
Automatic cost-of-living adjustments (COLAs) for Social Security benefits should continue.
Any further increases to the full retirement age should be conditioned on adequate protections for those who have difficulty postponing retirement.
The age of eligibility for early retirement benefits should be raised only if provisions are made to ensure that people who cannot work past age 62 are protected.