Our daily roundup of retirement news your clients may be thinking about.
79% of Americans favor Social Security benefit cuts, new survey shows A survey by the Program for Public Consultation School of Public Policy at the University of Maryland found 79% of Americans are in favor of raising a person's full retirement age to 68 from the previous 67, according to the personal finance website The Motley Fool. This would lead to benefit cuts for all recipients born after 1960 and could bring lower-income retirees below the poverty level. On the other hand, the strategy is likely to encourage seniors to postpone retirement and could push more Americans to save up instead of relying solely on Social Security benefits for their retirement funds.
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