Income maintenance programs (1 - 10 of 26 items)
Retirement Income: Ensuring Income throughout Retirement Requires Difficult Choices
GAO-11-400: Published: Jun 7, 2011. Publicly Released: Jul 1, 2011.
As life expectancy increases, the risk that retirees will outlive their assets is a growing challenge. The shift from defined benefit (DB) pension plans to defined contribution (DC) plans also increases the responsibility for workers and retirees to make difficult decisions and manage their pension and other financial assets so that they have income throughout retirement. GAO was asked to review (...
Social Security: Societal Changes Add Challenges to Program Protections
GAO-05-706T: Published: May 17, 2005. Publicly Released: May 17, 2005.
Before Social Security was enacted in 1935, at least half of those 65 and older in the United States were financially dependent upon others, including family members and public assistance. Today, the elderly's dependency on public assistance has dropped to a fraction of its depression-era levels, and poverty rates among this group are now lower than for the population as a whole. However, Social S...
Social Security: Long-Term Challenges Warrant Early Action
GAO-05-303T: Published: Feb 3, 2005. Publicly Released: Feb 3, 2005.
Social Security is the foundation of the nation's retirement income system, helping to protect the vast majority of American workers and their families from poverty in old age. However, it is much more than a retirement program and also provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires and as Americans continue...
Social Security: Distribution of Benefits and Taxes Relative to Earnings Level
GAO-04-747: Published: Jun 15, 2004. Publicly Released: Jun 15, 2004.
Under the current Social Security benefit formula, retired workers receive benefits that equal about 50 percent of pre-retirement earnings for a low-wage worker but only about 30 percent for a relatively high-wage worker. Factors other than earnings also influence the distribution of benefits, including the program's provisions for disabled workers, spouses, children, and survivors. Changes in the...
Social Security: Reform Proposals Could Have a Variety of Effects on Distribution of Benefits and Payroll Taxes
GAO-04-872T: Published: Jun 15, 2004. Publicly Released: Jun 15, 2004.
Under the current Social Security benefit formula, retired workers can receive benefits at age 65 that equal about 50 percent of preretirement earnings for an illustrative low-wage worker but only about 30 percent for an illustrative high-wage worker. Factors other than earnings also influence the distribution of benefits, including the program's provisions for disabled workers, spouses, children,...
Private Pensions: Improving Worker Coverage and Benefits
GAO-02-225: Published: Apr 9, 2002. Publicly Released: Apr 9, 2002.
Although pensions are an important source of income for many retirees, millions of workers lack individual pension coverage. Only half of the nation's workers have been covered by private employer-sponsored pensions since the 1970s. Traditional reforms to the voluntary, single-employer-based pension system have limited potential to expand pension coverage and improve worker benefits. These pension...
Income Security Issue Area: Active Assignments
AA-97-11(2): Published: Apr 15, 1997. Publicly Released: Apr 15, 1997.
GAO provided information on its active assignments in the Income Security issue area as of April 15, 1997...
Social Security Administration: Effective Leadership Needed to Meet Daunting Challenges
HEHS-96-196: Published: Sep 12, 1996. Publicly Released: Sep 12, 1996.
Pursuant to a congressional request, GAO provided information on the Social Security Administration's (SSA): (1) progress in meeting challenges; and (2) status as an independent agency.GAO found that: (1) while SSA is starting to manage for results and improve financial accountability, it has not taken steps to contribute to the public debate on the future financing of the Social Security system;...
Disability Insurance: Broader Management Focus Needed to Better Control Caseload
T-HEHS-95-164: Published: May 23, 1995. Publicly Released: May 23, 1995.
GAO discussed the Social Security Disability Insurance (DI) program, focusing on the Social Security Administration's (SSA) initiatives to manage program growth. GAO noted that: (1) the number of disabled beneficiaries has significantly increased in the past 10 years, mainly due to increasing applications and awards, expansions in eligibility criteria, program outreach, and poor economic condition...
Social Security Administration: Leadership Challenges Accompany Transition to an Independent Agency
HEHS-95-59: Published: Feb 15, 1995. Publicly Released: Feb 15, 1995.
Pursuant to a legislative requirement, GAO: (1) evaluated the Social Security Administration's (SSA) and Department of Health and Human Services' (HHS) transition plans; and (2) identified some of the policy changes SSA will face as an independent agency.GAO found that: (1) SSA and HHS have progressed towards the goal of SSA functioning as an independent agency; (2) HHS has successfully identified...