GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
More Americans remaining in the workforce at older ages could lead to benefits at several levels. First, working longer will allow older workers to bolster their retirement savings. Second, hiring and retaining older workers will help employers deal with projected labor shortages.
In the 21st century our nation faces a growing fiscal imbalance. A demographic shift will begin to affect the federal budget in 2008 as the first baby boomers become eligible for Social Security benefits. This shift will increase as spending for federal health and retirement programs swells.
Under the current Social Security benefit formula, retired workers can receive benefits at age 65 that equal about 50 percent of preretirement earnings for an illustrative low-wage worker but only about 30 percent for an illustrative high-wage worker.
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.
Pursuant to a congressional request, GAO discussed the Pension Benefit Guaranty Corporation's (PBGC) management of its contracting responsibilities, focusing on: (1) the basis for PBGC's decisions regarding the use of contractors versus government personnel to address its workloads; (2) PBGC's processes...
Pursuant to a congressional request, GAO: (1) examined the estimates of social security's implicit rates of return for different birth years, earning levels, household configurations, and other demographic groupings; (2) examined rates of return available on private market investments; and (3) discussed...
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.
The Department of Health, Education, and Welfare (HEW) reimburses states for costs they incur in making disability decisions under the Social Security Disability Insurance and Supplemental Security Income programs.