Social Security Reform: Raising Retirement Ages Improves Program Solvency but May Cause Hardship for Some

Question: Evaluate the proposals before Congress to reform and improve the solvency of the Social Security system. Finding: Using the NIA-funded Health and Retirement Study, GAO found that raising the Social Security retirement ages could improve long-term solvency for the program by increasing revenues and reducing benefits, but it is unclear whether employers will be willing to retain or hire older workers. Older blue-collar workers may be adversely affected because they are at risk for certain health problems that limit their ability to continue working.