How the experts would fix Social Security if they had their way
In fact, many individuals approaching retirement have less than $150,000 saved in their retirement accounts. What's more, half of workers do not have access to a 401 or other workplace retirement plan at all.
Munnell is not the only one who wants to preserve benefits and raise taxes. The Social Security 2100 Act, a current proposal before Congress, calls for similar changes in an effort to make the program solvent through the year 2100. "It's basically a proposal that is designed to maintain the current level of benefits with a few enhancements," she said.Boston University economics professor Laurence KotlikoffLaurence Kotlikoff, an economics professor at Boston University, sees Social Security as a patchwork of rules that has been cobbled together since the program was established in 1935.
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