As economic pressures make it harder for people to retire at age 65, some public policy analysts think the solution to the looming retirement crisis is for people to work longer. A prominent New York economist believes that just isn’t feasible.
Teresa Ghiladucci argues middle-and lower-income people shouldn’t be pressured into an endless cycle of “work, retire, repeat.” The fact is, over time, people’s bodies and minds simply wear down. She advocates public policy changes that will allow people to have a work career without the uncertainty around retirement. People in other countries can have a “dignified old age,” so why can’t that happen in America?
The latest Census Bureau statistics show that 50 percent of women and 47 percent of men have no retirement savings. Ghiladucci advocates a “Gray New Deal” that would replace the current system financed by employees and employers with a system in which the government would match employee savings. The Federal government has the money. It simply must reorder its priorities to create a way for people to retire with dignity.
Council of Seniors Works for Dignified Retirement
Extra retirement income should provide a better cushion for seniors. Here at Council of Seniors, we believe Congress has a duty to pass The SAVE Benefits Act. This legislation is crucial because the annual Social Security cost-of-living adjustment (COLA) withheld the amount of $581 from seniors. If we can get this bill passed, that money will finally be returned.
Signing our petition right away is the first step to take to help. We appreciate your help and support!
Connect with us on Facebook and Twitter for more updates!