How the COVID-19 pandemic could reduce near-retirees' Social Security benefits

• Published in: Journal of pension economics & finance Vol. 20; no. 1; pp. 1 - 8
• Main Author: Biggs, Andrew G.
• Format: Journal Article
• Language: English
• Published: Cambridge, UK Cambridge University Press 01.01.2021
• Subjects: Age; Benefits; Careers; Coronaviruses; COVID-19; Disability; Disability insurance; Disability recipients; Earnings; Economic conditions; Insurance; Pandemics; Pensions; Recessions; Retirees; Retirement; Retirement benefits; Social security; Wages & salaries; Workers; Workers with disabilities; United States > US; COVID; Social Security; J32; H55; Social Security Administration; H57; retirement; J26

A quirk in the Social Security benefit formula interacting with the sharp economic downturn due to the COVID-19 pandemic could cause certain groups of near-retirees to suffer significant and permanent reductions to their Social Security retirement benefits. A sudden decline in the Social Security Ad...