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Some proposals for Social Security’s long-term solvency would base the receipt of Social Security benefits on the income people have outside of Social Security.
The receipt of Social Security benefits should continue to be based on earnings from work covered by Social Security.
Recipients of Social Security benefits generally receive an annual cost-of-living adjustment (COLA).
Automatic cost-of-living adjustments (COLAs) for Social Security benefits should continue.
As people consider retirement, they must decide when to claim their Social Security benefits. Social Security determines their basic benefit amount based on the benefit formula.
Any further increases to the FRA 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.
The number of years used to calculate benefits should not be increased beyond the 35 years designated in current law.
Policymakers should increase the percentage of wages subject to the payroll tax at least to historically intended levels and otherwise increase the
Two Social Security issues of particular relevance to state and local government workers are universal coverage and the Windfall Elimination Provisions (WEP).