Outside the Box: Indexing for retirees’ life expectancy could help fix Social Security’s finances

Do you believe that retirees on average should draw larger and larger lifetime benefits from Social Security without paying more?

Whether you agree or disagree, understand that the trustees of the program attribute a growing portion of the Social Security shortfall to an ever-increasing length of retirement for which workers are not asked to pay more. Specifically, these experts assume that life expectancy of a retiree will continue to grow progressively longer over the balance of the century. At the same time, they believe that Congress will choose to ignore over decades the impact that these changes have on the program’s financial health.

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