Social Security system

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Question

A new Social Security trustees report points to a slightly longer time horizon for the program's trust funds. But even with a new depletion date of 2035 - a year later than projected last year - the program still faces a deficit. If no action is taken, just 80% of promised benefits will be payable. How would the instability of the Social Security system affect employer's retirement benefit planning? What could HR professionals do to prepare employees for their retirement?

Reference no: EM133276225

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