Concern is growing about the fate of the program millions of retirees rely on every day.
According to Yahoo! News, Social Security’s main trust fund is projected to run out of reserves in 2032. At that point, income would cover 78 percent of scheduled benefits, potentially reducing benefits by 22 percent.
But the person in charge of the program is not concerned. When asked about solvency, Social Security Administration Commissioner Frank Bisignano said, “This is a long journey. It’s 90 years old, and it’ll be around for another 90 years.”
Council of Seniors is Here to Help Older Americans
All of us here at the Council of Seniors want to improve retirees’ financial futures and ensure they receive their full Social Security benefits. We are working with members of Congress to introduce the “Social Security Restitution Act.” It would provide an estimated $970 one-time payment to every retired worker receiving Social Security benefits to help offset years of inadequate cost-of-living adjustments.
Please take a moment and sign our petition today to show your support.