One in Three Americans Worries About Social Security Solvency

A recent survey on retirement found that almost one third of Americans are concerned that Social Security could run out of money and stop making payments. The survey, which was conducted by Schroders, a multinational asset management company headquartered in London, also revealed that the majority of Americans nearing retirement age fear they will not be able to replace at least 75 percent of their last paycheck in retirement income.

This proves that our Social Security system needs a major overhaul. The Seniors Trust believes the solution is to enact the Social Security Expansion Act. This landmark piece of legislation will create a strong and long-lasting Trust Fund, ensuring that the fully promised benefit amounts continue to be paid far into the future. It also guarantees that every retired worker receives adequate Social Security benefits and a fair Cost-of-Living Adjustment (COLA) and it will immediately increase benefits by about $200 per month.