Discuss the Pros and Cons of Raising the Retirement Age

question 16

Essay

Discuss the pros and cons of raising the retirement age to pressure the Social Security trust fund.

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Definitions:

Transferability

The quality of being able to be legally transferred from one owner to another, such as property, titles, or financial instruments.

Unanimous Vote

A vote in which all members of a decision-making body agree and there are no dissenting opinions.

Winding Up

The process of settling the accounts and liquidating the assets of a company for the purpose of distributing the proceeds to claimants and shutting down the company permanently.

Implied Authority

The power of an agent to perform acts that are reasonably necessary to accomplish the purpose of an agency, even if not explicitly authorized.