3 Important Social Security Changes That Joe Biden Wants to Make
Millions of seniors collect monthly Social Security benefits that help them stay afloat financially during retirement, but the program is clearly in trouble and it also has flaws. It's not surprising, then, that Democratic presidential candidate Joe Biden has some big plans for Social Security. Here are three significant changes he's looking to implement if elected.
Anyone with enough work credits is eligible to collect Social Security during retirement. Even those who end their careers with millions in savings are still entitled to a monthly benefit.
But let's be real: Low-income seniors need those benefits the most, and Biden wants to put more money in their pockets by increasing the special minimum benefit to at least 125% of the federal poverty line. That would result in an increase of over $400 a month, according to the Penn Wharton Budget Model at the University of Pennsylvania.
Source Fool.com
