Social Security Modernization: Options to Address Solvency and Benefit Adequacy

Download or read book Social Security Modernization: Options to Address Solvency and Benefit Adequacy written by Herb Kohl and published by DIANE Publishing. This book was released on 2010-10 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Social Security (SS) remains a crucial benefit for millions of seniors, the program was designed to serve an American society of 75 years ago. Much has changed since its inception: Americans are living longer, women¿s participation in the labor force has significantly increased, and with a rise in the divorce rate, household composition has changed. In addition, the labor force is growing more slowly and the nature of work and compensation has altered in ways that affect workers¿ ability to save for retirement. This report outlines the challenges currently facing SS¿s retirement program and highlights options for addressing program solvency, benefit adequacy, and retirement income security for economically vulnerable groups. Illustrations.