Retirement benefits (1 - 2 of 2 items) in Past 6 Months
Social Security Offsets: Improvements to Program Design Could Better Assist Older Student Loan Borrowers with Obtaining Permitted Relief
GAO-17-45: Published: Dec 19, 2016. Publicly Released: Dec 20, 2016.
Older borrowers (age 50 and older) who default on federal student loans and must repay that debt with a portion of their Social Security benefits often have held their loans for decades and had about 15 percent of their benefit payment withheld. This withholding is called an offset. GAO's analysis of characteristics of student loan debt using data from the Departments of Education (Education), Tre...
401(K) Plans: Effects of Eligibility and Vesting Policies on Workers' Retirement Savings
GAO-17-69: Published: Oct 21, 2016. Publicly Released: Nov 21, 2016.
GAO's nongeneralizable survey of 80 401(k) plans ranging in size from fewer than 100 participants to more than 5,000 and its review of industry data found that many plans have policies that affect workers' ability to (1) save in plans (eligibility policies), (2) receive employer contributions, and (3) keep those employer contributions if they leave their job (vesting policies). Thirty-three of 80...