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Tuesday, March 31, 2009

Increasing the Social Security Special Minimum Benefit and Updating SSI

Laura Sullivan
Research Assistant, Institute on Assets and Social Policy, Brandeis University

Tatjana Meschede
Research Director, Institute on Assets and Social Policy, Brandeis University

Thomas M. Shapiro
Director, Institute on Assets and Social Policy, Brandeis University

A special minimum benefit was added to the Social Security program in 1974, but few receive it today because it does not keep up with wage growth. Enhancing Social Security for Low-Income Workers: Coordinating an Enhanced Minimum Benefit with Social Safety Net Provisions for Seniors examines ways to update the special minimum benefit so that individuals with 30 years of work covered by Social Security would receive benefits that meet the updated poverty measure of the National Academy of Sciences, which is about 125 percent of the current official poverty threshold. It also proposes to update SSI to reflect inflation since the program began – that is, increase the asset limit for individuals from $2,000 to $6,700 and increase the general income exclusion from $20 to $89.

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Posted on March 31, 2009  |  1 comment  |  Add your comment
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Friday, March 27, 2009

A Social Security Supplement for Low-Income Working Parents

Pamela Herd
Assistant Professor of Public Affairs and Sociology, La Follette School of Public Affairs, University of Wisconsin

Social Security provides benefits for spouses and widowed spouses, but does not provide credit for raising children. A growing portion of retiring women will not qualify for spousal benefits because they are divorced (with less than 10 years of marriage) or never married, yet will have earnings records that are limited because of time spent caring for their children. Crediting Care in Social Security: A Proposal for an Income-Tested Care Supplement proposes to supplement Social Security benefits for retirees who have raised one or more children. The supplement would be an additional 75 percent of the worker’s benefit (80 percent if two or more children were raised) but would be capped to not push the retiree’s household income above 125 percent of the poverty threshold.

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Posted on March 27, 2009  |  Write the first comment
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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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