Retirement income (11 - 20 of 42 items)
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...
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...
Social Security Reform: Considerations for Individual Account Design
GAO-05-847T: Published: Jun 23, 2005. Publicly Released: Jun 23, 2005.
Social Security forms the foundation for our retirement income system, providing critical benefits to millions of Americans. However, the Social Security program is facing significant future financial challenges as a result of profound demographic changes. A wide variety of proposals to reform the program are currently being discussed, including restructuring the program to incorporate individual...
Social Security Reform: Early Action Would be Prudent
GAO-05-397T: Published: Mar 9, 2005. Publicly Released: Mar 9, 2005.
Social Security is the foundation of the nation's retirement income system, helping to protect the vast majority of American workers and their families from poverty in old age. However, it is much more than a retirement program, also providing millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires and as Americans continue t...
Social Security Reform: Analysis of a Trust Fund Exhaustion Scenario Illustrates the Difficult Choices and the Need for Early Action
GAO-03-1038T: Published: Jul 29, 2003. Publicly Released: Jul 29, 2003.
Social Security is an important social insurance program affecting virtually every American family. It is the foundation of the nation's retirement income system and also provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires, Social Security's financing shortfall presents a major program solvency and sustainability...
Retirement Income: Intergenerational Comparisons of Wealth and Future Income
GAO-03-429: Published: Apr 25, 2003. Publicly Released: Apr 25, 2003.
Today's workers will rely to a large extent on Social Security, private pensions, and personal wealth for their retirement income. But some analysts question whether these sources will provide sufficient retirement income to maintain workers' standards of living once they leave the labor force. Indeed, the Social Security trust funds are projected to become exhausted in 2042, at which time, unless...
Social Security: Analysis of Issues and Selected Reform Proposals
GAO-03-376T: Published: Jan 15, 2003. Publicly Released: Jan 15, 2003.
Social Security not only represents the foundation of our retirement income system; it also provides millions of Americans with disability insurance and survivors' benefits. As a result, Social Security provides benefits that are critical to the current and future well-being of tens of millions of Americans. However, the system faces both solvency and sustainability challenges in the longer term....
Social Security Reform: Analysis of Reform Models Developed by the President's Commission to Strengthen Social Security
GAO-03-310: Published: Jan 15, 2003. Publicly Released: Jan 15, 2003.
Social Security is an important social insurance program affecting virtually every American family. It represents a foundation of the nation's retirement income system and provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires, Social Security's financing shortfall presents a major solvency and sustainability challe...
Social Security: Program's Role in Helping Ensure Income Adequacy
GAO-02-62: Published: Nov 30, 2001. Publicly Released: Nov 30, 2001.
Before Social Security, being old often meant being poor. Today, dependency on public assistance has dropped to a fraction of its Depression-era levels, and poverty rates among the elderly are now lower than for the population as a whole. At the same time, Social Security has become the single largest source of retirement income for more than 90 percent of persons aged 65 and older. Automatic adju...