Our daily roundup of retirement news your clients may be thinking about.
Was File-and-Suspend a Loophole? A column called Why recent Social Security changes make sense by Alicia Munnell, director of Boston College Center for Retirement Research, argues that the recent changes to Social Security are a move in the right direction. "Social Security—the backbone of our retirement system—isn’t supposed to be a complicated program where those 'in the know' get a much better deal than the average guy," writes Munnell. "Now the rules are clear, and people will get their intended benefit. The program will also save billions of dollars." Meanwhile, a column called Why recent changes in Social Security are unfair by William Reichenstein, Powers Professor at Baylor University and head of research at socialsecuritysolutions.com, maintains that instead of closing a loophole, the changes are essentially a "further movement of Social Security toward an income-redistribution program." As a society, he says that "we should decide whether Social Security should primarily be an income-redistribution program or primarily a required-savings program. That would strongly influence the types of changes we should consider." --The Wall Street Journal
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access