Researchers at the Urban Institute find that older adult workers have the hardest time finding a new job in tough labor markets. Given early impacts of the COVID-19 recession, researchers suggest that allowing more flexibility for those aged 62 or older to opt in and out of Social Security, or to take only half of their Social Security benefit in a given year, would allow seniors to adjust reliance on Social Security based on their needs. Much of the infrastructure for implementing a reform like this is already in place, although not often utilized; simplifying and expanding on this existing option would facilitate the roll-out of such a program. #covid-19 #workforce
Allowing partial Social Security benefits would support older adults during recession
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