FOR IMMEDIATE RELEASE
May 18, 2010
Contact: AARP Media Relations, firstname.lastname@example.org, 202-434-2560
AARP Agrees That Modest Changes to Social Security Will Protect Program for Long-Term
Commends Senator Kohl for Releasing Report Emphasizing Importance of Social Security and Need for “Tweaks” to Preserve Program for Future Generations
WASHINGTON –AARP Executive Vice President Nancy LeaMond issued the following statement today after the release of a report on Social Security solvency by the U.S. Senate Special Committee on Aging, chaired by Senator Herb Kohl:
“AARP agrees wholeheartedly with the report’s assessment that Social Security is not in crisis, but that with modest changes in the near term, we can ensure solvency and adequacy and strengthen the critical benefits for millions of Americans for many years to come. AARP also believes that Social Security must be addressed in the overall context of retirement security for Americans, and not by using the wrong frame of cutting Social Security to reduce the deficit.
“For 75 years, Social Security has provided critical retirement and financial security for millions of older adults as well as children and those with disabilities. The report illustrates that while these benefits are not “generous”, they are critical to keeping millions of Americans out of poverty. In addition, Social Security—which is financed by money hard-working Americans contribute over their working lives—has been running a surplus and has not contributed to our nation’s current deficit.
“AARP agrees with the report findings that Social Security needs to be strengthened for future generations, and that even with no changes, Social Security can pay out full benefits until 2037 and nearly three-quarters of promised benefits after that. However, we know that the remaining pillars of retirement security – such as pensions, savings, and home values -- have been crumbling over the past decade, and Social Security is likely to play an increasingly vital role for millions of Americans who will depend on these benefits in the future.
“AARP is looking forward to working with Senator Kohl and his committee, as well as members of the National Commission on Fiscal Responsibility and Reform, to ensure that the promise of Social Security will be kept for current and future generations of Americans.”
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