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News

What if we don't shore up Social Security?

A new EBRI report calculates the impact--and what would happen if defined contribution plans were eliminated.

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Social Security office in Baltimore. (Photo: Bloomberg)

What population group will suffer the most if the federal government does not address the shortfall in the Social Security Trust Fund for retirees?

The answer, not surprisingly, is millennials because they will be collecting smaller payouts for longer, according to a new report from the Employee Benefit Research Institute (EBRI). The oldest age group would suffer the least.

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