Bush’s Plan for Social Security Includes Cutting Survivor Benefits
July 12, 2005
Social Security is not just a retirement program, but a comprehensive insurance program to protect workers and their families should the workers be unable to work because of death or disability. But a recent Economic Policy Institute analysis shows how President Bush’s proposal to transform Social Security would gravely affect surviving family members of workers who die before retirement.
Bush’s plan proposes a 9.4% slash in benefits and EPI estimates that to be a $3,009 loss (in today's dollars) in annual benefits for the family of a typical worker who is now age 25 but who will die at 45. The report also shows how African American workers and their families would be particularly hurt, and how difficult it would be to regain the loss from benefit cuts through Bush’s plan of private accounts.
To read the full EPI analysis, click here.
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