Retirement Income : 1984 Pension Law Will Help Some Widows But Not the Poorest: Hrd-88-77 book
Retirement Income : 1984 Pension Law Will Help Some Widows But Not the Poorest: Hrd-88-77 book

Retirement Income : 1984 Pension Law Will Help Some Widows But Not the Poorest: Hrd-88-77 by U S Government Accountability Office (G
Retirement Income : 1984 Pension Law Will Help Some Widows But Not the Poorest: Hrd-88-77
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Author: U S Government Accountability Office (G
Page Count: 50 pages
Published Date: 26 Jun 2013
Publisher: Bibliogov
Publication Country: United States
Language: English
Format: eBook
ISBN: 9781289034177
File size: 35 Mb
Download Link: Retirement Income 1984 Pension Law Will Help Some Widows But Not the Poorest Hrd-88-77
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Pursuant to a legislative requirement, GAO analyzed the potential effects of the spousal consent provision of the Retirement Equity Act of 1984 on the economic status of future widows, focusing on: (1) how many wives could gain entitlement to survivor benefits as a result of the act; (2) what economic circumstances influenced whether husbands selected survivor benefits, prior to the act; (3) to what extent survivor benefits would increase widows' incomes; (4) whether increased access to survivor benefits would help those most vulnerable to poverty; and (5) to what extent increased access to survivor benefits would lessen widows' dependence on social security. GAO found that: (1) if the act's spousal consent requirement had been applicable from 1980 through 1981, the proportion of wives potentially entitled to survivor benefits would have increased from 26 to 43 percent; (2) the larger the survivor benefit and the greater its importance as a potential source of income, the more likely husbands were to have elected it; (3) if all of the men who did not elect survivor benefits had done so, the median survivor benefit would have been about $142 per month for all wives and $68 per month for those in the lowest third of the income distribution; (4) survivor benefits would have little effect on the poverty rate among widows, since those widows most likely to become poor had husbands who lacked pensions; and (5) most low- and middle-income wives would continue to depend on social security benefits as their major source of income in widowhood.

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