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.
What GAO Found The Social Security Administration (SSA) approves organizational payees—such as nursing homes or non-profits that manage the Social Security benefits of individuals unable to do so on their own—by assessing a range of suitability factors, such as whether the organizations have adequate...
What GAO Found Disparities in income and wealth among older households have become greater over the past 3 decades, according to GAO's analysis of Survey of Consumer Finances (SCF) data. GAO divided older households into five groups (quintiles) based on their income and wealth.
What GAO Found Annual reports on the status of Social Security and Medicare trust funds are developed through a collaboration between agency officials and trustees, which include relevant Cabinet members and public members nominated by the President (if confirmed).
What GAO Found GAO's review of studies and interviews with employment and retirement experts identified 17 countries with aging populations and national pension systems similar to the Social Security program in the United States.
Why GAO Did This Study GAO was asked to update selected estimates from GAO-15-419 using 2016 Survey of Consumer Finances data. What GAO Found This correspondence updates estimates on the percentage of households aged 55 and over with selected financial resources, using the most recent data.
What GAO Found Use of an alternate consumer price index (CPI) for calculating cost-of-living adjustments (COLA) would create tradeoffs regarding individual benefits and the costs for federal retirement programs, such as Social Security.
What GAO Found The Social Security Administration (SSA) has improved its management of information technology (IT) acquisitions and operations by addressing 14 of the 15 recommendations that GAO has made to the agency. For example, Incremental development.