The Social Security trust fund is expected to be depleted in about six years. If Congress does not act to fix the funding crisis, beneficiaries could face automatic, across-the-board reductions in payments. For retirees, that is likely to be about $500 less in each month’s payment.
To fully understand what’s at stake, Rutgers Law School spoke with the director of the Economic Justice and Public Benefits, who also happens to be an expert in Social Security law. In a short Q & A session, he explained why Social Security is running out of money, how we got into this situation, who would be most affected, what will happen if Congress does not act in time, and what “guiding principles” he thinks should be used to shape the next reform plan.
Council of Seniors is Here to Help Older Americans
Older Americans worked long and hard and deserve to live a comfortable retirement free from financial strain.
All of us here at the Council of Seniors want to improve retirees’ financial futures — and that starts with Congress enacting The SAVE Benefits Act. The passage of this bill can make up for Social Security cost-of-living adjustments (COLAs) that have let you down in recent years. If it passes, $581 will be returned to eligible seniors.
Sign our petition right now to show you’re on board with our effort.