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Social Security Reform
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Social Security Reform: Effect on Benefits and the Federal Budget of Plans Proposed by the President's Commission to Strengthen Social Security
In 2001, President Bush established the President’s Commission to Strengthen Social Security to make recommendations on ways to “modernize and restore fiscal soundness to the Social Security system” in accordance with six principles, one of which mandated the creation of voluntary personal retirement accounts. The Commission proposed three alternative reform models. Under all three proposals, workers could choose to invest in personal accounts and have their traditional Social Security benefits reduced by some amount. Model 1 would make no other changes to the program.
Social Security: Proposed Changes to the Earnings Test
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Social Security Reform
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Social Security: Taxation of Benefits
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Military Retirement: Major Legislative Issues
This report includes information regarding major legislative issues involving military retirement. Military retirement, retired pay and survivor benefit COLAs, and military retirement budgeting and costs are among topics discussed in this report.
Social Security, Saving, and the Economy
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Social Security Reform
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The Financial Outlook for Social Security and Medicare
This report provides an overview of the financial outlook for Social Security and Medicare programs.
The Financial Outlook for Social Security and Medicare
This report provides the financial outlook for Social Security and Medicare programs.
Social Security Reform
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The Social Security Protection Act of 2003 (H.R. 743)
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Social Security: Brief Facts and Statistics
This report provides brief facts and statistics about Social Security that are frequently requested by Members of Congress and their staffs. It includes information about Social Security taxes and benefits, the program's impact on recipients' incomes, federal tax receipts, federal spending and the economy, administrative information, and selected facts about Medicare.
Social Security Reform
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Social Security Notch Issue: A Summary
This report discusses recent attempts at legislative action regarding changes to the computation of benefits under Social Security Amendments of 1977 (P.L. 95-216), which directly affected retirees born in the 5- to 15-year period after 1916. These persons fall in the "notch" between previous Social Security legislation and those affected by the amendments.
Social Security: Proposed Changes to the Earnings Test
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Social Security: The Government Pension Offset
This report discusses the Government Pension Offset (GPO) provision, which reduces Social Security benefits that a person receives as a spouse if he or she also has a government pension based on work that was not covered by Social Security. Its purpose is to replicate Social Security’s “dual entitlement” rule, which requires that a Social Security benefit earned as a worker be subtracted from any Social Security spousal benefit to which the worker is eligible. Its intent is to remove an advantage these workers would otherwise receive if they could receive both a government pension and full Social Security spousal benefits. Opponents contend that the provision is basically inaccurate and often unfair. Five bills have been introduced in the 108th Congress that would modify or repeal the provision.
Social Security: Raising or Eliminating the Taxable Earnings Base
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Social Security Reform
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Social Security: Proposed Changes to the Earnings Test
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Social Security and Medicare Taxes and Premiums: Fact Sheet
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Retirement Savings and Household Wealth in 2000: Analysis of Census Bureau Data
This report examines recent trends in retirement saving and the policy implications. The aging of the American population and the impending retirement of the "baby boom" will place significant strains over the next several decades on both Social Security and on retirees' own financial resources. With continued increases in average life expectancies, retirees in the 21st century will have to stretch their savings and other assets over longer periods of retirement than were experienced by their parents and grandparents.
Social Security Reform
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Social Security Program Protection Act of 2002 (H.R. 4070)
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Social Security: The Cost-of-Living Adjustment in January 2003
This report discusses the Cost-of-living Adjustments to Social Security in 2003. To compensate for the effects of inflation, Social Security recipients receive a cos-of-living adjustment (COLA) in January of each year. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), updates monthly by the Department of Labor's Bureau of Labor Statistics (BLS), is the measure used to compute the change.
Social Security: The Cost-of-Living Adjustment in January 2003
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Social Security: Taxation of Benefits
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Social Security Benefit Enhancements for Women Act of 2002 (H.R. 4069)
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Social Security Program Protection Act of 2002 (H.R. 4070)
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Social Security Reform
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Social Security: Where Do Surplus Taxes Go and How Are They Used?
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Social Security Reform
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Social Security Reform: Economic Issues
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Social Security: Taxation of Benefits
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Social Security Program Protection Act of 2002 (H.R. 4070)
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Social Security: Raising the Retirement Age Background and Issues
The Social Security "full retirement age" will gradually rise from 65 to 67 beginning with people who attain age 62 in 2000 (i.e., those born in 1938). Early retirement benefits will still be available beginning at age 62, but at lower levels. To help solve Social Security's long-range financing problems, it has been proposed that these ages be raised further.
Social Security: Raising the Retirement Age Background and Issues
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Social Security Benefit Enhancements for Women Act of 2002 (H.R. 4069)
This report discusses the passing of the Social Security Benefit Enhancements for Women Act of 2002 and how it benefits certain divorced spouses and disabled and elderly widowers. The report analyzes the specific benefits of the act and how much the act would cost and the effects on the Social Security trust funds.
Social Security Reform: How Much of a Role Could Personal Retirement Accounts Play?
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The Financial Outlook for Social Security and Medicare
This report provides a financial outlook for social security and medicare programs.
The Financial Outlook for Social Security and Medicare
This report provides an overview of the financial outlook for Social Security and Medicare programs.
Social Security's Treatment Under the Federal Budget: A Summary
The treatment of Social Security in the federal budget is often confusing. In legislation enacted in 1983, 1985, and 1990, Social Security was excluded from official budget calculations and largely exempted it from congressional procedures for controlling budget revenues and expenditures. However, because Social Security represents more than a fifth of federal revenues and expenditures, it often is included in summaries of the government's financial flows, or what is referred to as the "unified" budget.
Social Security's Treatment Under the Federal Budget: A Summary
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Social Security and Medicare Taxes and Premiums: Fact Sheet
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Social Security: Raising or Eliminating the Taxable Earnings Base
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Social Security: Coverage of Household Workers - A Fact Sheet
On October 22, 1994, President Clinton signed legislation (P.L. 103-387) that changes social security coverage of household workers. The new law changed the threshold to a yearly amount and raised it (to $1,000 in 1994, indexed thereafter to average wage growth-it became $1,100 in 1998, 1,200 in 2000, and 1,300 in 2001). It remains at $1,300 in 2002. In addition, the new law exempted most domestic workers under age 18, and provided that Social Security and unemployment taxes will be reported on the employer's annual federal tax return.
Social Security: Proposed Changes to the Earnings Test
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Social Security: Report of the President's Commission to Strengthen Social Security
This report describes the Commission’s three reform plans. The first plan would make no other changes to the program. The second plan would slow the growth of Social Security through one major provision that would index initial benefits to prices rather than wages. The third plan would slow future program growth through a variety of measures.
Social Security: The Cost-of-Living Adjustment in January 2002
This report discusses the Social Security recipients that receive a costof- living adjustment (COLA) in January of each year. An automatic Social Security benefit increase reflects the rise in the cost of living over roughly a 1-year period
Social Security: The Cost-of-Living Adjustment in January 2002
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