Social security benefits (11 - 20 of 100 items)
Retirement Income: Ensuring Income throughout Retirement Requires Difficult Choices
GAO-11-400: Published: Jun 7, 2011. Publicly Released: Jul 1, 2011.
As life expectancy increases, the risk that retirees will outlive their assets is a growing challenge. The shift from defined benefit (DB) pension plans to defined contribution (DC) plans also increases the responsibility for workers and retirees to make difficult decisions and manage their pension and other financial assets so that they have income throughout retirement. GAO was asked to review (...
Department of State Overseas Comparability Pay
GAO-11-772R: Published: Jun 30, 2011. Publicly Released: Jun 30, 2011.
The Federal Employees Pay Comparability Act (FEPCA) of 1990 established locality pay to achieve pay comparability between federal and nonfederal jobs within the United States. Because FEPCA established pay localities only for areas within the United States, federal employees permanently stationed overseas, including members of the Foreign Service, did not receive locality pay. As the Washington, D...
Social Security Reform: Raising the Retirement Ages Would Have Implications for Older Workers and SSA Disability Rolls
GAO-11-125: Published: Nov 18, 2010. Publicly Released: Nov 18, 2010.
Life expectancy has increased over the last several decades, and by 2050 persons age 65 or older will account for more than 20 percent of the total U.S. population, up from about 13 percent in 2000. Without significant changes in retirement decisions, these improvements in longevity are expected to lengthen the average number of years that Americans spend in retirement and contribute to the expect...
Retirement Income: Challenges for Ensuring Income throughout Retirement
GAO-10-632R: Published: Apr 28, 2010. Publicly Released: May 4, 2010.
As the life expectancy of Americans continues to increase, the risk that retirees will outlive their assets is a growing challenge. Today, couples both aged 62 have a 47 percent chance that at least one of them will live to their 90th birthday. In addition to the risk of outliving ones' assets, the sharp declines in financial markets and home equity during the last few years and the continued incr...
Social Security: Options to Protect Benefits for Vulnerable Groups When Addressing Program Solvency
GAO-10-101R: Published: Dec 7, 2009. Publicly Released: Dec 7, 2009.
For over 70 years, Social Security has been the foundation of retirement income for American workers and their families and has been instrumental in reducing poverty among the elderly. The Congressional Research Service estimates that if Social Security benefits did not exist, an estimated 44 percent of all elderly people would be poor today. Still, some people who receive Social Security retireme...
Social Security Administration: Service Delivery Plan Needed to Address Baby Boom Retirement Challenges
GAO-09-24: Published: Jan 9, 2009. Publicly Released: Feb 9, 2009.
Millions of people rely on the services of Social Security Administration (SSA) field offices. In fiscal year 2008, SSA's approximately 1,300 field offices provided service to about 44 million customers. People visit field offices to apply for Social Security cards, apply for retirement and disability benefits, establish direct deposit, and a host of other services. Over the last several years, st...
Social Security Administration Field Offices: Reduced Workforce Faces Challenges as Baby Boomers Retire
GAO-08-737T: Published: May 8, 2008. Publicly Released: May 8, 2008.
Millions of people rely on the services of Social Security Administration (SSA) field offices. In fiscal year 2007, SSA's approximately 1,300 field offices provided service to about 42 million customers. People use these offices to apply for Social Security cards, apply for retirement and disability benefits, establish direct deposit, and a host of other services. While customers may conduct their...
Social Security Reform: Issues for Disability and Dependent Benefits
GAO-08-26: Published: Oct 26, 2007. Publicly Released: Nov 26, 2007.
Many recent Social Security reform proposals to improve program solvency include elements that would reduce benefits currently scheduled for future recipients. To date, debate has focused primarily on the potential impact on retirees, with less attention to the effects on other Social Security recipients, such as disabled workers and dependents. As these beneficiaries may have fewer alternative so...
Retirement Security: Women Face Challenges in Ensuring Financial Security in Retirement
GAO-08-105: Published: Oct 11, 2007. Publicly Released: Oct 11, 2007.
Women aged 65 and over will account for a growing segment of the U.S. population over the next several decades. Despite increases in women's workforce behavior in the past 65 years, elderly women have persistently high rates of poverty. Thus, it is important to understand the differences between men's and women's retirement income, and how women may fare given future reforms to Social Security and...
Retirement Decisions: Federal Policies Offer Mixed Signals about When to Retire
GAO-07-753: Published: Jul 11, 2007. Publicly Released: Jul 11, 2007.
While many factors influence workers' decisions to retire, Social Security, Medicare, and pension laws also play a role, offering incentives to retire earlier and later. Identifying these incentives and how workers respond can help policy makers address the demographic challenges facing the nation. GAO assessed (1) the incentives federal policies provide about when to retire, (2) recent retirement...