Bloomberg News and the LA Times report on the increases in applications for retirement and disability benefits, further stressing an already overloaded system.
“With job prospects bleak or nonexistent, more older Americans are turning to Social Security earlier than they — and the government — had expected.
“The Social Security Administration had projected an increase of 315,000 applicants for the 12 months ending Sept. 30 partly because the first baby boomers — those born right after World War II — are starting to retire.
“The actual increase was higher. Agency statistics show that 2.57 million people requested benefits, up from the 2.10 million applications received during the previous 12 months…”
See story here: