The Social Security Notch Issue
T-HRD-88-15: Published: Apr 22, 1988. Publicly Released: Apr 22, 1988.
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GAO discussed the social security benefits disparity, known as the notch, specifically: (1) how the notch arose; (2) how it affects beneficiaries; and (3) alternatives for financing legislation to address the problem. GAO found that: (1) Congress amended the Social Security Act in 1977 to alter the social security benefits computation formula; (2) under the new formula, retirees born in or after 1917 receive smaller benefit amounts than those born before then; (3) rapid inflation in the late 1970's and early 1980's caused the benefits of the pre-notch group to rise faster and widened the gap between the two groups' benefits; and (4) legislation to award higher benefits to the notch group would be costly and would affect both the short- and long-term status of the trust fund. GAO believes that Congress may wish to: (1) keep the effect of notch legislation on current and projected trust fund balances as neutral as possible; (2) evaluate the resources and time required to implement the legislation; and (3) retain the current 5-year transition period.
Oct 30, 2020
Retirement Security:
Other Countries' Experiences with Caregiver PoliciesGAO-20-623: Published: Sep 30, 2020. Publicly Released: Oct 30, 2020.
Sep 24, 2020
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Retirement Security:
Older Women Report Facing a Financially Uncertain FutureGAO-20-718T: Published: Sep 24, 2020. Publicly Released: Sep 24, 2020.
Aug 28, 2020
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Retirement Security:
DOL Could Better Inform Divorcing Parties About Dividing SavingsGAO-20-541: Published: Jul 31, 2020. Publicly Released: Aug 28, 2020.
Aug 13, 2020
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Retirement Security:
Older Women Report Facing a Financially Uncertain FutureGAO-20-435: Published: Jul 14, 2020. Publicly Released: Aug 13, 2020.
Jun 16, 2020
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Retirement Security:
BLS Should Explore Ways to Improve the Accuracy, Timeliness, and Relevance of Its Cost-of-Living MeasurementsGAO-20-422: Published: Jun 16, 2020. Publicly Released: Jun 16, 2020.
Feb 27, 2020
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Private Pensions:
IRS and DOL Should Strengthen Oversight of Executive Retirement PlansGAO-20-70: Published: Jan 28, 2020. Publicly Released: Feb 27, 2020.
Jan 9, 2020
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Social Security Disability:
Action Needed to Help Agency Staff Understand and Follow Policies Related to Prescription Opioid MisuseGAO-20-120: Published: Jan 9, 2020. Publicly Released: Jan 9, 2020.
Dec 18, 2019
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Capitol Police:
Potential Effects of Raising the Mandatory Retirement AgeGAO-20-137R: Published: Dec 18, 2019. Publicly Released: Dec 18, 2019. -
Millennial Generation:
Information on the Economic Status of Millennial Households Compared to Previous GenerationsGAO-20-194: Published: Dec 13, 2019. Publicly Released: Dec 18, 2019.
Oct 21, 2019
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Military Pensions:
Servicemembers Need Better Information to Support Retirement Savings DecisionsGAO-19-631: Published: Sep 19, 2019. Publicly Released: Oct 21, 2019.
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