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Though retirement was viewed by some as an essential adjustment, many among the older populace resisted the idea of retirement. [1] By 1935, the idea of paying older persons a pension sufficient to get them to quit working became widespread. A Californian, Francis Townsend, proposed a plan offering compulsory retirement at age 60. In return ...
Social Security was controversial when originally proposed, with one point of opposition being that it would reduce the labor force, but supporters argued instead that retiring older workers would free up employment for young men, which during the Depression was a vital point of concern. Opponents also decried the proposal as socialism.
The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding. [29]
While Trump hasn’t gotten into the nitty-gritty of his plan for helping seniors if he’s elected President, reviewing his track record in the White House from 2016 to 2020 and watching him in ...
About one in five people over age 65, or approximately 11 million Americans, are still working.
Retirement can be a time to enjoy family, embrace hobbies, travel the world and pursue personal enrichment, as long as you can afford it.But many older Americans instead spend their days doing ...
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