Guardianship and the Representative Payee Program
The Center for Retirement Research has released their findings about the role of Guardianships and Representative Payees. Their study look at
1) How many beneficiaries with representative payees have guardians?
2) How many beneficiaries have their guardian as their payee?
3) What are the characteristics of those with both a payee and a guardian?
The policy implication of their finding were:
• While guardianship could lessen the need for representative payees since it provides a protective legal arrangement, few individuals with a representative payee have one.
• As more representative payees are needed with the aging of the Baby Boomers, pre-existing guardians seem unlikely to fill a large portion of the need.