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☆ As Social Security's funds face insolvency, experts say these are key factors to watch
  + stars: | 2024-05-08 | by ( Lorie Konish | ) www.cnbc.com   time to read: +3 min
Phoenix Wang | Moment | Getty ImagesA new Social Security trustees report released on Monday provides a modest bright spot for the program. watch nowThe trust fund shortfall may be addressed through tax increases, benefit cuts or by taking funds from general revenues, he said. But Social Security is poised to be an issue in the upcoming House, Senate and presidential campaigns, he said. Here are some key revelations to note from this year's Social Security trustees report. If there is a major recession, many workers who are at the margin may apply for disability benefits, he said.
Persons: Wang, Jason Fichtner, Fichtner, Max Richtman, Laura Haltzel Organizations: Social Security, Center, Committee, Budget, National Committee, Preserve Social Security, Social, Congressional Research Service
☆ As retirement age change sparks protests in France, here's what could happen in the U.S.
  + stars: | 2023-05-07 | by ( Lorie Konish | ) www.cnbc.com   time to read: +5 min
Damien Meyer | Afp | Getty ImagesAn increase in pension retirement age to 64 from 62 in France has sparked ongoing protests. The U.S. could be poised for a similar change with the Social Security retirement age. Today, that higher retirement age is still getting phased in. People born in 1960 and later now must wait until 67 to receive their full "retirement age" benefits. For example, if you are eligible for a $1,000 monthly benefit at full retirement age, you would get just $700 per month if you started at age 62.
☆ Some Republicans want Gen Z to retire later to avoid outright cuts to Social Security: 'Does it really make sense to allow someone who's in their 20s today to retire at 62?'
  + stars: | 2023-03-14 | by ( Jason Lalljee | ) www.businessinsider.com   time to read: +6 min
Several Republicans have said recently that they want to raise the retirement age for younger generations. Social Security is rapidly approaching insolvency, with the Congressional Budget Office estimating that the fund will become unable to make all of its payments starting in 2033. Social safety net programs like Medicare and Social Security have been a partisan battleground for Democrats and Republicans for decades now, with Republicans eyeing big cuts for both programs. There are going to be no cuts in Medicare, Social Security." The White House has continued to criticize Republicans for not being publicly consistent about their goals for Social Security and Medicare.
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