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Older Adults

Older Adults. How old is old? AARP says 50 “Vulnerable adults”=60 62 for partial social security benefits 65-67 for full benefits 67 for full benefits in 2027 “Frail” elderly=85. Older Adults-demographics. Service System for Older Adults. Federal Administration on Aging

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Older Adults

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  1. Older Adults How old is old? • AARP says 50 • “Vulnerable adults”=60 • 62 for partial social security benefits • 65-67 for full benefits • 67 for full benefits in 2027 • “Frail” elderly=85

  2. Older Adults-demographics

  3. Service System for Older Adults • Federal Administration on Aging • State unit: Aging and Disability Services Administration • County: Aging Program • City: “Area Agency on Aging:” Aging and Disability Services

  4. Older Adult Services, cont. • Adult Protective Services- www.adsa.dshs.wa.gov/default.htm • Gray Panthers-an advocacy organization • http://www.graypanthers.org/ • AARP-Membership based advocacy, research, policy development, service provider.

  5. Social Security (OASDI) What is it? • An insurance program for families of deceased workers and disabled workers as well as retirees. • An Anti-poverty program. • An entitlement. • A contribution based program.

  6. Characteristics of OASDI • Funding: 6.2% tax for retirement and disability; 1.45% for medicare. • First $106,800 is taxed. • Salary replacement is 56.8, 41.8 and 29% of salary for lowest to highest earners. • Automatic COLA. • Retirement benefit can be received at age 62, increasing to 67 in 2027.

  7. Characteristics, cont. 6. Who receives social security? • 64% retired workers • 8% widows/widowers & mothers/fathers • 5% spouses • 8% children • 15% disabled workers. 7. Disability benefit can be received when the person has a disability that prevents them from working.

  8. Current Issues • A Federal Deficit • Demographic shifts leading to a need for adjustments • Options for adjusting: • Raise retirement age • Increase income cap for taxation • What are the pros and cons?

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