What AARP Is Doing to Strengthen Retirement Security

AARP's Testimony to Congress About Retirement Security

• On August 5, Nancy LeaMond, AARP’s executive vice president and chief advocacy and engagement officer, testified before the Senate Finance Committee at an August 6, 2026, hearing on “Exploring Process Approaches for Addressing Social Security Solvency.” She emphasized that Social Security remains the foundation of retirement security for millions of Americans and urged Congress to strengthen the program without reducing earned benefits for current or future generations. LeaMond argued that Social Security is too important to be rushed or outsourced to a commission and called on lawmakers to address its long-term financing through the regular legislative process rather than limiting transparency, debate, and amendments.
  
  
• On April 15, 2026, Carly Roszkowski, AARP’s vice president of Financial Resilience Programming, testified before the U.S. Senate Special Committee on Aging at a hearing on “Empowering Seniors Through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence.” Roszkowski emphasized how financial literacy empowers older Americans to protect their savings, avoid fraud and maintain independence as they age. Roszkowski highlighted the importance of clear, accessible tools that help older adults make informed decisions and confidently manage their finances.
  
  
• On January 7, 2026, AARP submitted a statement for the record for a House Education & the Workforce Committee hearing on “Modernizing Retirement Policy for Today’s Workforce.” In the statement, AARP emphasized that the current retirement crisis underscores the need to improve access to and uptake of workplace savings, strengthen protections for defined benefit plans, close loopholes that allow conflicted advice, and ensure strong regulatory guidelines for investment products.

Retirement Security Legislation AARP Has Supported

• AARP supported the Older Americans Act, last authorized as Public Law 116-131, which was first enacted in 1965. The OAA grew out of concerns among lawmakers and advocates about the lack of community-based social services for older adults. The law provides social and health-related services, including support services to help people stay in their homes as they age, nutrition services such as “meals on wheels,” support for family caregivers, and services to prevent the abuse and exploitation of older people.

The OAA was last fully reauthorized in 2020 and expired in 2024. In July 2026, the Senate passed the OAA Reauthorization Act that would fund OAA programs through the federal fiscal year 2030. The House of Representatives has not voted yet on this reauthorization.

• AARP supported the Employment Retirement Income Security Act (ERISA), formally known as Public Law 93-406, which the 93rd U.S. Congress enacted in 1974 to fix failures of major pension plans that caused workers to lose benefits. ERISA established funding and vesting standards for pension plans, created legal pathways for workers to fight for unpaid benefits and required clear communication with workers about the pension plans’ rules. There are currently roughly 837,000 ERISA-governed retirement plans holding $12 trillion in assets.
  
  
• AARP supported the Retirement Equity Act (REA), formally known as Public Law 98-397, which the 98th U.S. Congress passed in 1984 to protect access to pension benefits for survivors and spouses. The law prevents one member of a married couple from signing away the other’s survivor benefits without the other’s written consent. The REA also made it possible for pension benefits to be allocated in divorce and other domestic relations settlements.
  
  
• AARP supported the Senior Citizens’ Freedom to Work Act of 2000, introduced by the 106th Congress and now formally known as Public Law 106-182. That law repealed the limits on how much money Social Security recipients ages 65 to 69 could earn before their benefits were penalized. Before the law was enacted, those recipients saw their benefits reduced by $1 for every $3 that exceeded the limit, which was $17,000 in 2000.
  
  
• AARP supported the SECURE 2.0 legislation (Public Law 117-238) that was enacted as part of a federal spending bill the 117th Congress passed in December 2022. The law includes 92 provisions related to 401(k)s, individual retirement accounts (IRAs) and other savings vehicles. Among these provisions are penalty-free withdrawals for retirement savings accounts to cover long-term care insurance, auto-enrollment in new retirement plans, a higher catch-up limit for retirement plan contributions for people nearing retirement and the creation of a database to help people find lost retirement plans.
  
  
• At the state level, AARP recently has worked with lawmakers to support the passage of more than 20 auto-IRA programs that provide a retirement savings option for workers who don’t have access to a comparable employer-sponsored plan. In April 2026, Mississippi enacted the Mississippi Work and Save program, which allows private-sector employees 18 and older to opt in to a state-facilitated Roth IRA plan.

Policy Research & Publications

• “The Longevity Economy Outlook 2026,” comprehensive analysis from AARP, finds that the 50-plus population accounted for $12.5 trillion in annual economic activity in 2024, a contribution that is expected to grow through 2060. The report finds that retirement security for older Americans has been impacted by several factors, such as age discrimination in employment, which can lead to involuntary early retirement. The Longevity Economy analysis also notes that more than 75 percent of family caregivers age 50-plus who retired early due to caregiving responsibilities would have remained in the workforce longer if they had access to financial support.
  
  
•  “Auto IRA Plus: Expanding Retirement Access Through State Auto IRA Programs” examines how creating a network of 50 state auto-IRA programs would greatly increase coverage, and especially meet the needs of smaller employers and their workers.
  
  
• The “AARP Financial Security Trends Survey” has tracked how U.S. adults age 30 or older feel about their financial situation since January 2022. The January 2026 survey update found that 42 percent of adults age 30-plus feel financially insecure, up from 40 percent in January 2025 and 39 percent in January 2022.

How AARP keeps fighting for your retirement security

AARP continues to support efforts by states to create retirement savings opportunities for their residents. In January 2026, with AARP’s backing, Minnesota launched a state-sponsored auto-IRA program for workers without access to an employer-sponsored retirement plan. In 2025, Nevada, New York and Rhode Island launched their auto IRAs.

AARP is also acting to protect and strengthen Social Security. In spring 2025, AARP members sent more than 2 million messages via emails and calls to Congress to raise concerns about proposed changes at the Social Security Administration that would have affected telephone service for beneficiaries. After hearing the concerns from AARP members, SSA dropped the proposals.

On April 30, 2026, AARP sent a letter to Treasury Secretary Scott Bessent and National Economic Council Director Kevin Hassett welcoming the Administration’s executive order on “Promoting Retirement-Savings Access for American Workers by Establishing TrumpIRA.gov.” AARP urged continued leadership to reach workers who still lack a way to save at work. AARP emphasized the need for a national retirement savings approach that builds on what has proven to work, drawing on decades of advocacy and the success of state-based Work & Save programs now operating in 21 states.  

AARP calls on lawmakers and employers to protect retirement security 

With the 2026 Social Security trustees’ report projecting that the surplus in the program’s trust funds will be depleted by 2034, AARP is pressing lawmakers to find bipartisan solutions to shore up Social Security's finances without cutting the benefits recipients have earned. 

“This should be a wake-up call: Congress needs to act,” said AARP CEO Dr. Myechia Minter-Jordan upon the report’s release. “Americans have worked hard and paid into Social Security their entire lives, and they deserve to count on it when they retire. No family should see any cuts to what they’ve earned in Social Security. Today, more than 71 million people rely on Social Security, and as America ages, ensuring it stays strong will become even more critical.”

Frequently Asked Questions

What is AARP’s position on retirement security?

AARP supports a comprehensive approach to help people secure their financial future once they stop working full-time. Our efforts include protecting Social Security and pensions and increasing access to effective retirement plans and savings options, such as 401(k) accounts and auto IRAs. 

Retirement savings options should be broadly available regardless of industry, job type or employment status. Incentives and subsidies for retirement security options must be designed to effectively support those who face the greatest challenges in saving, including efforts to reduce wealth inequalities.

What has AARP done on retirement security?

Since its founding in July 1958, AARP has worked with employers, Congress and presidential administrations of both parties to ensure that Social Security is protected and workers have access to additional tools to build financial security in retirement, such as pensions, 401(k) plans, work-and-save auto IRAs and more.

For example, AARP backed ERISA, which became law in 1974, improving protections for qualified pension plans. AARP further improved pension protections in 1986, when we helped pass legislation that requires employers to include new hires age 60-plus in pension plans and continue pension contributions and accruals for people working beyond age 65. For more about AARP’s history advancing retirement security for all, see our article “AARP’s Impact: Milestones Through the Years.”

Nearly 56 million private-sector workers don’t have access to an employer-sponsored retirement savings option. In recent years, AARP has helped 21 states enact state-facilitated auto IRAs and other work-and-save programs that have already enabled more than 1.2 million people to start saving for their financial future.

Why does AARP prioritize retirement security?

Rising prices and longer life expectancies make it increasingly important for people to better understand how to plan for their financial security after they stop working full-time and to have accessible options that help them achieve their retirement savings goals. Improving retirement security for more people is why AARP works to provide resources and tools that help people age 50 or older better understand how much money they might need in retirement and which pathways can help them build financial security.

How does retirement security affect people over 50?

According to an AARP survey, 20 percent of adults age 50 and older have no savings for retirement, and 26 percent don’t think they will ever be able to afford to retire. Even those who have been able to save for retirement are worried about rising prices that affect whether they’ll be able to cover costs for basic expenses, health care and family caregiving.

“Every adult in America deserves to retire with dignity and financial security. Yet far too many people lack access to retirement savings options, and this, coupled with higher prices, is making it increasingly hard for people to choose when to retire,” said Indira Venkateswaran, AARP's senior vice president of research.

What legislation is AARP supporting on retirement security?

In recent years, AARP has worked with lawmakers in 21 states to enact legislation creating state-facilitated retirement savings options for workers without employer-sponsored plans. Nearly 56 million U.S. adults work for employers that don’t offer options such as pensions or 401(k) plans. As of April 2026, more than 1.2 million workers have started saving for retirement through these state work-and-save programs.

AARP also supports the implementation of the federal SECURE 2.0 Act, passed in late 2022, which helps more Americans build retirement savings through automatic enrollment in 401(k) plans, higher catch-up contribution limits for older workers and other incentives to boost retirement savings.

How can members get involved?

There are many ways AARP members can help the organization advocate for retirement security. You can sign up to become a mobile or online activist. Once you sign up, AARP will send you notifications and emails about actions you can take, such as writing to your congressional representatives to urge them to protect Social Security or to your state representatives about work-and-save retirement options.

You can also share your story with AARP about challenges you have faced in building financial security for retirement. Real voices can have a real impact on lawmakers’ decisions about laws that affect retirement savings options.