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Social Security

Wednesday, March 25, 2009

Reducing Eligibility Requirements for Retirement Benefits

Andrew Biggs
Resident Scholar, American Enterprise Institute for Public Policy Research

To qualify for Social Security retired-worker benefits, individuals must have worked at least 40 calendar quarters (ten years) in jobs covered by Social Security. The Effects of Reducing Eligibility Requirements for Social Security Retirement Benefits examines the impact of eliminating the 40-quarters eligibility requirement. A small group of individuals (about 6 percent of those born in 1950) would gain eligibility for Social Security retired-worker benefits. The increases in benefits would often substitute for means-tested SSI benefits. Much of the new benefits would flow to immigrants who are not otherwise eligible for Social Security.

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Posted on March 25, 2009  |  Write the first comment
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Tuesday, March 24, 2009

Protecting Social Security Benefits from Garnishment

John Infranca
Judicial Clerk, The Honorable Berle M. Schiller, Federal Judiciary, Eastern District of Pennsylvania

Because Social Security and Supplemental Security Income (SSI) benefits are essential to meet basic needs, the Social Security Act protects the benefits from garnishment or attachment by creditors. Nevertheless, when benefits are deposited in a bank account, beneficiaries may find that their accounts have been temporarily frozen, or worse, permanently garnished at the behest of a creditor under provisions of state law. Because the government encourages direct deposit, over 80 percent of Social Security and SSI recipients receive their benefits electronically. Read More…
Posted on March 24, 2009  |  1 comment  |  Add your comment
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Monday, March 9, 2009

Correcting David Broder on Social Security

Tom Bethell

Dear Mr. Broder,

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Posted on March 9, 2009  |  Write the first comment
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Friday, March 6, 2009

Social Security is Shovel-Ready

Robert Hudson
Professor and Chair, Department of Social Welfare Policy, Boston University

There can be no question that the current economic crisis is emerging as the most dire that we have seen since the 1930s. And, in terms of both employment opportunities and retirement savings, it seems certain to hit older Americans as hard as it will everyone else. Looking for any silver lining in this situation, one finally occurs to me. In recent years, pressures on age-related programs have built as "the scope of conflict" around aging policy has expanded, meaning that programs that were once politically insulated are now under scrutiny and attack from those who see entitlement spending for older adults leading us toward fiscal doom.

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Tuesday, March 3, 2009

A Bright Light in a Dismal Landscape

Alicia H. Munnell
Peter F. Drucker Professor of Management Sciences and Director of the Center for Retirement Research, Boston College

Original Published 3/25/09, The Boston Globe

President Barack Obama has said that overhauling Social Security and Medicare would be "a central part" of his administration's efforts to contain federal spending. But amid all the economic calamity, the Social Security program is functioning perfectly, meeting the crucial economic needs for millions of Americans. When older workers are losing their jobs and their 401(k) accounts are down about 30 percent, the ability to claim Social Security benefits serves as a backstop against severe economic hardship. Therefore, policymakers should tread carefully.

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