Unprecedented Economic Factors Will Lead to Rare Drop in Initial Social Security Benefits and Reduce Lifetime Earnings
“Baby Boomers will see greatly reduced Social Security benefits over the course of their retirements due to an unprecedented combination of low wage growth and no annual cost-of-living adjustments (COLA), according to a new study by The Senior Citizens League. And those who first become eligible for Social Security in 2011 will receive lower benefits than retirees born a year earlier.
This is the most comprehensive study ever released to show the recession's impact on Social Security benefits for the first wave of baby boomers.”
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