Bipartisan Senate Group Mulls Social Security Investment Fund, Higher Retirement Age – By Arthur Delaney (Huffpost) / Mar 1, 2023
Raising the retirement age would be highly controversial and Congress is not likely to do so anytime soon.
WASHINGTON ― A bipartisan group of senators has been talking about ways to reform Social Security in order to avert a funding shortfall expected sometime around a decade from now.
And one item under discussion is raising the eligibility age for Social Security benefits for future retirees ― a politically fraught move that is more likely to enrage voters than it is to become law in the near term.
Along with potentially increasing the eligibility age for future retirees, the group has looked at creating an investment fund that would improve Social Security’s long-term finances.
“It’s not locked in concrete yet, but it’s a reasonable proposition in that does not call for changing benefits over the next 75 years,” Sen. Mitt Romney (R-Utah) told HuffPost on Wednesday. “As a matter of fact, it improves benefits, particularly for people at the low end of the income scale, which is something that’d be helpful.”
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