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What GAO FoundUnemployment rates for workers of all ages have risen dramatically since the start of the recent recession in December 2007, and workers age 55 and over have faced particularly long periods of unemployment. The seasonally unadjusted unemployment rate for older workers increased from 3.
Many proposals have been offered to restructure the U.S. Social Security system to include individual retirement savings accounts. However, some key proposals would make participation in the accounts voluntary rather than mandatory.
Pursuant to a legislative requirement, GAO reviewed the Social Security Administration's (SSA) new rule on Old-age, Survivors, and Disability Insurance and Supplemental Social Security Income for the aged, blind, and disabled.