11/13/2012 – The Big Downside of Raising the Retirement Age

Now that the post-election entitlements fights are back in the spotlight, raising the Social Security retirement age will return to center stage as one of the common prescriptions for closing the program’s long-term funding gap. Increasing or entirely lifting the ceiling on taxable wages—set at $113,700 in 2013—is another frequently mentioned proposal. Further down on the list are measures to change the annual cost-of-living adjustment for Social Security recipients, restrict payments to high-income beneficiaries, and a slew of benefit tweaks that could have a meaningful cumulative impact on program finances.


Read the full article at US News & World Report.