Social Security Reform: Raising Retirement Ages Improves Program Solvency but May Cause Hardship for Some

Pursuant to a congressional request, GAO discussed raising the retirement age for social security benefits, focusing on: (1) how raising the retirement ages could affect social security's long-term solvency and the U.S. economy; (2) how the labor market for older workers might respond to these changes; and (3) the possible impacts from raising the retirement ages on the Disability Insurance (DI) and Supplemental Security Income (SSI) programs.