FOR IMMEDIATE RELEASE CONTACT: Tiffany Lundquist
August 13, 2012 202-434-2560
AARP: SOCIAL SECURITY IS CRITICAL FOR TODAY’S SENIORS AND FUTURE GENERATIONS
As Social Security marks 77th Anniversary, Americans encouraged to raise their voices about the future of the program.
Washington, DC – AARP is commemorating the 77th Anniversary of the enactment of Social Security by noting the program’s important role in the economic security of millions of American families, and providing opportunities for people across the country to join the national conversation about strengthening Social Security for the future.
“Social Security is still the critical foundation for retirement security for most Americans,” said AARP President Rob Romasco. “It is the only inflation-protected source of retirement income that you cannot outlive and is not subject to market risk.”
“With fewer jobs offering pensions and people struggling to save for retirement, Social Security will be even more important for younger generations,” Romasco added, noting that more than one in three working households age 21 to 64 has no individual savings set aside for retirement.
An AARP survey of voters age 50+ released last week found that six in ten plan to rely on Social Security and Medicare even more due to the recent economic downturn. The same survey found that 50+ voters’ top financial worry is prices rising faster than their income, and the overwhelming majority (91 percent) agree that the next President and Congress need to strengthen Social Security so that it is able to provide retirement security for future generations.
“While Social Security is not in crisis, we will need to work to ensure future generations will receive the benefits they’ve earned,” said AARP CEO A. Barry Rand. “The longer Washington waits to fix the problems facing Social Security, the more drastic the possible solutions will need to be.”
“Last year, while politicians in Washington discussed changes like reducing the COLA as part of a backroom budget deal, AARP fought to protect Social Security. One thing we’ve heard consistently from our members and all older Americans is that keeping up with inflation is one of Social Security’s most important features,” he continued.
“It’s these voices – the voices of Americans who have paid into the program – that politicians should be listening to when they consider its future. That’s why AARP launched You’ve Earned a Say – to ensure that Americans have balanced information about the changes under consideration in Washington and a platform to speak out about how any proposed changes would impact them and their families,” Rand said.
The You’ve Earned a Say national tour stops this week in Springfield, Illinois; Billings, Montana; Sedalia, Missouri; Cincinnati, Ohio; and Des Moines, Iowa.
AARP President Romasco is also hosting a live web chat at 12:30pm EST on Tuesday, August 14, to answer questions from AARP members and others about Social Security.
“As we look to put Social Security on stable ground for the future, AARP also believes that extending the temporary Social Security payroll tax holiday beyond the current year would undermine confidence in the program and put at risk Social Security’s dedicated funding stream and the hard-earned benefits of millions of Americans and their families,” Rand continued.
“The future of Social Security is too important to be decided behind closed doors in Washington,” Rand concluded. “AARP is fully engaged in ensuring that Americans who have paid into the program have a voice in the debate about how to strengthen Social Security for today’s seniors and future generations.”
AARP is a nonprofit, nonpartisan organization, with a membership of more than 37 million, that helps people 50+ have independence, choice and control in ways that are beneficial to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for Americans 50+ and the world's largest-circulation magazine; AARP Bulletin, the go-to news source for the 50+ audience; AARP VIVA, a bilingual lifestyle multimedia platform addressing the interests and needs of Hispanic Americans; and national television and radio programming including My Generation and Inside E Street. The AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Learn more at www.aarp.org.