In a Forbes column, Dan Doonan writes that there are pragmatic solutions to shore up Social Security’s financing. Two approaches that deserve particular consideration: addressing the “tax max” issue and increasing contributions.
Whatever the solution, policymakers must act now. If we get to 2033 without action, retirees across the board will see a 24 percent cut in their benefits. Retirees are depending on that income to pay their bills and likely have few alternative sources of income. It would be disastrous for many seniors and throw even more into poverty.
Statement on Efforts in Alaska to Restore Pension Benefits to Address Grave Workforce Shortage
Alaska’s effort to restore a pension plan for public workers represents meaningful progress in addressing one of the state’s most pressing challenges: attracting and retaining a stable, experienced public workforce. While Governor Dunleavy has vetoed the legislation, the fact that the measure passed both the House and Senate demonstrates a growing recognition that retirement benefits are not just about retirement security — they also are an essential workforce management tool.
