This is National Retirement Security Month

October is National Retirement Security Month. Its purpose is to raise public awareness of various retirement savings options, increase personal financial literacy, and, according to a Senate resolution marking the event, “engage the people of the United States on the keys to success in achieving and maintaining retirement security throughout their lifetimes.”

A recognition such as this is necessary because, according to a report by the Center for Retirement Research at Boston College, “approximately half of all U.S. households will not be able to maintain their pre-retirement standard of living because they have insufficient retirement income and savings.”

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