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Retirement Reforms Are Necessary-So Is Strengthening Social Security

Owen Davis, Siavash Radpour and Teresa Ghilarducci
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Teresa Ghilarducci: Schwartz Center for Economic Policy Analysis (SCEPA), https://www.economicpolicyresearch.org

No 2022-02, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: Social Security is the most essential and well-functioning part of the U.S. retirement system. Any reforms to federal retirement policy-while necessary and long overdue-must be built on the foundation of a protected and strengthened Social Security system. More than 60 percent of adults 65 and older receive most of their income from Social Security and all recipients benefit from the annuitized income the system provides. Despite calls to cut benefits and misleading claims about its finances, Social Security should be bolstered and expanded.

Keywords: Social Security; low-income; Workers; Jobs; Unemployment; Risk; Older workers; retirement income; retirement; retirement savings (search for similar items in EconPapers)
JEL-codes: E21 E24 I14 J32 J38 J62 J83 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2022-12
New Economics Papers: this item is included in nep-age
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