Recent searches
Search options
Administered by:
Source: AARP
From the article: "The Social Security Amendments of 1972 created a special minimum benefit to protect low-earning seniors against poverty in old age by giving them a higher benefit than they would receive through the regular Social Security benefit formula. But the minimum benefit has failed to reach many poor beneficiaries due to design limitations. In fact, no new retirees have become eligible for it since 1998."
#SocialSecurity #Elderly #OlderAdults #SeniorCitizens #FinancialSecurity
AARPTwo Reports Address How to Improve Social Security’s Minimum BenefitTwo AARP Public Policy Institute reports spotlight the opportunities and challenges of enhancing Social Security’s minimum benefit. Both use the Urban Institute’s DYNASIM model (PDF), a dynamic microsimulation model designed to analyze the long-run distributional consequences of retirement and aging issues.