Monday, July 23, 2018

Savings and Retirement Foundation with SSA’s Hillary Waldron, July 25.

Join us for a Lunch Meeting with Guest Speaker:
Hillary Waldron
Economist with the Office of Economic Analysis and Comparative Studies, Social Security Administration

Who will discuss her new SSA paper:
“Working and Claiming Behavior at Social Security’s Early Entitlement Age (EEA)”
July 25, 2018
Noon-1:00 p.m.
Willard Office Building
1455 Pennsylvania Ave. NW
(Lunch will be provided)

There is considerable interest in evaluating the potential effects of proposals to increase Social Security’s Early Entitlement Age (EEA) in the Social Security policy literature (Waldron 2015). Additionally, there is interest in evaluating proposed changes to Social Security’s retired worker benefit that seek to shield Social Security fully insured workers deemed to be most vulnerable to those proposed changes (Waldron 2012, 2013). This project aims to contribute to both strands of that literature by extracting potentially relevant empirical information from Social Security’s administrative data files.
To provide a first look at the data, this paper is limited to observations of work behavior at ages 61 and 63 and claiming behavior at Social Security’s Early Entitlement Age (EEA) of 62—that is at the age at which workers are first eligible to claim Social Security retired worker benefits. Under current law, retired worker benefits are reduced a fraction of a percent for each month a worker claims before his or her full retirement age(FRA).


1 comment:

WilliamLarsen said...

Raising the retirement age and changing the benefit formula for those not fully insured means that any changes to SS will fall on those seen to be less desirable and deserving of being included those who are desirable and deserving (buy votes).

The legacy debt is increasing every year. Two decades ago few if anyone besides me spoke about it. The $12 Trillion I used in 2002 was laughed at. Today I say it is $35 Trillion just for the OASI program. Recent studies on this website identified nearly $27 Trillion in present value unfunded liabilities.

In ten more years SS-OASI will no longer being increasing benefits by COLA. I also believe that 2028 will be the first year there will be no trust fund to make up any shortfall in payroll taxes or taxes on benefits.

Hang on to your wallets, the elderly are going to be screaming bloody loud for their benefits they think they have earned and paid for. The problem is had they paid for their benefits, then we would not be here today trying to figure out how to fix this Ponzi Scheme gone amuck.