Z,
For one thing, that's not the case.
But if they do, then they probably will be healthy enough (on average) to work until they're 110. Then you raise the retirement age. I'd raise it now, already, as I've said, probably to 70.
I agree, but rather than some congretional commission defining it by fiat, an indexing scheme should be instituted that would be self adjustable.
I posted an example earlier that we could define the number of people who are allowed to be in the (fixed) pool that draws SS benefits, and the entry age into this pool would become the retirement age.
An event such as hordes of baby boomers getting in line for the retirement would automatically raise the retirement age.
Of course there are number of other (probably better) ways to come up with the indexing of the retirement age.
As I said, congress already approved raising it to 67, but nothing beyond that, so most of the problems that exist are already based on this age, so it may need to go beyond that, closer to 70, as you said.
Joe |
