Why Social Security Matters More to Moms

Sunday is Mother’s Day. On this day dedicated to celebrating mothers, it’s important to note that the Social Security Administration reports that nearly 55 percent of Social Security benefit recipients are women. For many, it’s their primary source of retirement income.

The problem is that Social Security income is often impacted by motherhood. According to an article in Vail Daily, “your Social Security benefit depends on your 35 highest-earning years. If you have years with zero or very low earnings in that calculation, it can reduce what you receive in retirement.” So, when women step away from work or reduce their hours to care for family members, their Social Security earnings are affected.

Another issue affecting women is life expectancy. The article points out that, on average, women live about five years longer than men. This means they will rely on Social Security for a longer period. 

The Seniors Trust is committed to improving the financial well-being of all older Americans by passing the Social Security Expansion Act. It will give retirees an immediate increase of about $200 a month in benefits, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.