Social security benefits (11 - 20 of 257 items)
Retirement Security: Trends in Marriage and Work Patterns May Increase Economic Vulnerability for Some Retirees
GAO-14-33: Published: Jan 15, 2014. Publicly Released: Feb 26, 2014.
Over the last 50 years, the composition and work patterns of the American household have changed dramatically. During this period, the proportion of unmarried and never-married individuals in the population increased steadily as couples chose to marry at later ages and live together prior to marriage. At the same time, the proportion of single-parent households more than doubled. These trends were...
Social Security Death Data: Additional Action Needed to Address Data Errors and Federal Agency Access
GAO-14-46: Published: Nov 27, 2013. Publicly Released: Dec 27, 2013.
The Social Security Administration (SSA) receives death reports from multiple sources, including state vital records agencies (states), family members, and other federal agencies to create its set of death records. In accordance with the Social Security Act (Act), SSA shares its full set of death data with certain agencies that pay federally-funded benefits, for the purpose of ensuring the accurac...
Private Pensions: Clarity of Required Reports and Disclosures Could Be Improved
GAO-14-92: Published: Nov 21, 2013. Publicly Released: Dec 17, 2013.
Sponsors of private sector pension plans are required to submit various reports to federal agencies and disclosures to participants depending on the plans' type, size, and circumstances. GAO identified more than 130 reports and disclosures stemming from provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA), and the Internal Revenue Code, as administered largely by t...
SSA Representative Payee Program: Addressing Long-Term Challenges Requires a More Strategic Approach
GAO-13-473: Published: May 29, 2013. Publicly Released: Jun 5, 2013.
The Social Security Administration (SSA) struggles to effectively administer its Representative Payee Program, despite steps taken to address its challenges in identifying, selecting, and monitoring representative payees. For example, due to increasing workloads and staff attrition, SSA field office managers in some offices said they sometimes have to perform payee program duties that lower level...
SSA Representative Payee Program: Long-Term Strategy Needed to Address Challenges
GAO-13-673T: Published: Jun 5, 2013. Publicly Released: Jun 5, 2013.
In summary, GAO found that SSA struggles to effectively administer its Representative Payee Program, despite steps the agency has taken to address its challenges in identifying, selecting, and monitoring representative payees. SSA field office managers in some offices said that due to increasing workloads and staff attrition they sometimes have to perform payee program duties that lower-level staf...
Retirement Security: Women Still Face Challenges
GAO-12-699: Published: Jul 19, 2012. Publicly Released: Jul 25, 2012.
Over the last decade, working womens access to and participation in employer-sponsored retirement plans have improved relative to men. Indeed, from 1998 to 2009, women surpassed men in their likelihood of working for an employer that offered a pension plan, largely because the proportion of men covered by a plan declined. Furthermore, as employers have continued to terminate their defined be...
Income Security: Older Adults and the 2007-2009 Recession
GAO-12-76: Published: Oct 17, 2011. Publicly Released: Oct 18, 2011.
The recession of 2007 to 2009 has been the most severe in this country since the 1930s. After adjusting for inflation, gross domestic product declined by 5.1 percent and the national unemployment rate peaked at 9.5 percent. While the recession officially ended in June 2009, our economy has experienced a weak recovery, with unemployment still above 9 percent. While the recession has affected all ag...
Income Security: The Effect of the 2007-2009 Recession on Older Adults
GAO-12-172T: Published: Oct 18, 2011. Publicly Released: Oct 18, 2011.
This testimony discusses the effects of the recent recession on older adults. While the recession officially ended in June 2009, our economy has experienced a weak recovery, with unemployment still above 9 percent. Older adults--particularly those close to or in retirement--may not have the same opportunities as younger adults to recover from the recession's effects. For example, older adults--gen...
Social Security Statements: Observations on SSA's Plans for the Social Security Statement
GAO-11-787T: Published: Jul 8, 2011. Publicly Released: Jul 8, 2011.
The Social Security Statement (the statement) is the federal government's main document for communicating with more than 150 million workers about their Social Security benefits. Provided annually, it serves as a key financial literacy tool that can educate the public about Social Security Administration (SSA) program benefits, aid in financial planning, and ensure that workers' earnings records a...
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 (...