News and perspective on public policy issues affecting Washington's economy and quality of life, brought to you by the Economic Opportunity Institute.
Part 1 | Part Two Working Americans and their employers each pay 6.2% on the first $110,100 of earnings into Social Security. Those payments insure 159 million workers and their families from loss of income due to disability, premature death, or retirement. They also fund benefits averaging $1,125 monthly for 56 million Americans, including:[i] Retirees age 62+. [...]
[By John Burbank, Executive Director, EOI - cross-posted from The People's Pension] A secure and dignified retirement was a symbol of American middle class well-being – a hybrid product of government social insurance, the corporate social contract, and the post-World War II culture and ability to save, as opposed to the current economic reality of [...]
Every year, retirement seems out of reach for more Americans. According to a 2011 Gallup poll, 66% of Americans say their biggest financial concern is being unable to save enough money to retire – up from 53% in 2011. For the first time since the Great Depression, elderly poverty rates will likely increase and even [...]
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