Three Facts That Illustrate the Importance of Social Security
Social Security is one of the most successful anti-poverty programs in our nation’s history. According to its website, it has provided financial protection to Americans for nearly 90 years by providing benefits for retirement, disability, and survivorship.
Because Social Security is so valuable, we must understand its full impact. Here are a few critical facts about Social Security from The Motley Fool:
- More than 50 million retirees collect Social Security retirement benefits.
- Social Security benefits make up nearly a third of the retirement income of those older than 65.
- Among recipients aged 65 and older, those benefits accounted for fully 90% or more of income for 12% of men and 15% of women.
It is clear that Social Security is fundamental to the financial future of this country and its people. We must act to ensure its longevity. The Seniors Trust is working diligently to get Congress to pass the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual COLA, increased minimum benefits, and ensure the long-term solvency of the Social Security program.
