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Innovations Challenge- New Credits

Social Security has throughout its history added benefits to insure against new risks. Two innovations below are aimed at fighting against new risks, from leaving the workforce voluntarily to care for family members or return to school to leaving the workforce involuntarily.

The first innovation would allow workers to receive credits for three productive activities that currently are not used to compute Social Security benefits: unpaid family caregiving, unemployment, and job training.

The second innovation would provide income support for up to two years for workers who seek to acquire new skills through additional educational opportunities, thereby encouraging workers to reinvest in their labor market skills.

 

Executive Summary Compendium: Social Security Policy Innovation Challenge

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