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Raise Retirement Age To Save Social Security?
One group in Washington says it’s the way to keep Social Security from going belly-up.
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(August 1, 2008)—One influential group says the way to keep Social Security from imploding is to make future recipients wait longer for their benefits.
The American Academy of Actuaries advises policymakers on risk and financial security issues.
The Academy wants any potential solution offered up by the White House and lawmakers to include raising the retirement age, noting that “future recipients will probably live longer anyway”.
Currently, the retirement age range is 65-to-67-years-old.
The Academy provided The Associated Press with an advance look of its recommendations Thursday; it plans to make the recommendations on Monday.
The next president and a new Congress will come under increasing pressure to act to fix the Social Security system.
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