Would Enhancing Social Security Minimum Benefits Cause any Problems?
• Most minimum benefit plans would make the benefit formula slightly more progressive, thus weakening the relationship between earnings and benefits, a source of Social Security’s political support. • Some proposals would direct subsidies to people who are not needy (for example, workers with some uncovered employment or secondary earners in families with high-wage primary earners). • Some policy analysts prefer to help low-income retirees with means-tested assistance like SSI. What Would Be the Impact on Social Security’s Long-Term Fiscal Deficit? The generosity of minimum benefit proposals varies widely. A minimum benefit’s effects on the system’s long-term fiscal deficit depends on how it is designed. Who Has Proposed Minimum Benefits? Several groups have advanced reform proposals that contain a minimum benefit within a larger Social Security package, including the following: • The bipartisan National Commission on Retirement Policy (1998); • A commission set up by President George
Related Questions
- I have several health problems, but no single health problem disables me its the combination of health problems that disables me. Can I get Social Security disability benefits?
- Can features such as minimum benefits, excess contributions and Social Security integration be added to the Plan?
- Would Enhancing Social Security Minimum Benefits Cause any Problems?
