Final Report on the Social Security "notch" Issue
Title | Final Report on the Social Security "notch" Issue PDF eBook |
Author | United States. Commission on the Social Security "Notch" Issue |
Publisher | Commission |
Pages | 92 |
Release | 1994 |
Genre | Business & Economics |
ISBN |
Social Security
Title | Social Security PDF eBook |
Author | United States. General Accounting Office |
Publisher | |
Pages | 112 |
Release | 1988 |
Genre | Retirement age |
ISBN |
Final Report on the Social Security "notch" Issue
Title | Final Report on the Social Security "notch" Issue PDF eBook |
Author | United States. Commission on the Social Security "Notch" Issue |
Publisher | Commission |
Pages | 88 |
Release | 1994 |
Genre | Business & Economics |
ISBN |
Social Security Notch Issue
Title | Social Security Notch Issue PDF eBook |
Author | Geoffrey Kollmann |
Publisher | |
Pages | |
Release | 2003 |
Genre | |
ISBN |
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 "notch" Issue
Title | Social Security "notch" Issue PDF eBook |
Author | United States. Congress. House. Committee on Ways and Means. Subcommittee on Social Security |
Publisher | |
Pages | 462 |
Release | 1992 |
Genre | Political Science |
ISBN |
Report of the National Commission on Social Security Reform
Title | Report of the National Commission on Social Security Reform PDF eBook |
Author | United States. National Commission on Social Security Reform |
Publisher | |
Pages | 298 |
Release | 1983 |
Genre | Disability insurance |
ISBN |
Social Security
Title | Social Security PDF eBook |
Author | U S Government Accountability Office (G |
Publisher | BiblioGov |
Pages | 112 |
Release | 2013-06 |
Genre | |
ISBN | 9781289076535 |
Pursuant to a congressional request, GAO reviewed the disparity of social security benefits, known as the notch, between classes of recipients, resulting from the Social Security Amendments of 1977, specifically: (1) how the notch arose; (2) its effect on beneficiaries; (3) the financial implications of some proposed notch legislation; and (4) the socioeconomic characteristics of affected social security recipients. GAO found that the 1977 amendments: (1) altered the benefits computation formula; (2) stabilized replacement rates and lowered their level; (3) caused retirees born in or after 1917 to receive smaller benefit amounts than those born before then; and (4) did not fully anticipate rapid inflation from 1977 to 1983 which increased the notch between those groups. GAO also found that legislative proposals to lessen the benefit disparities: (1) would require making additional payments to beneficiaries, using current trust fund balances to finance notch remedies, increasing revenue through payroll taxation, and reducing benefits and other expenditures; (2) were generally costly and difficult to administer; and (3) could jeopardize the system's short-run financial condition.