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AARP
A Conversation on Social Security with AARP Utah
On May 22, 2024, AARP Utah held an in-person Social Security forum at the Embassy Suites Hotel in South Jordan. We were joined by about 75 attendees as our experts discussed Social Security solvency.
We Must Start the Conversation Now
The discussion was moderated by Heidi Hatch, an anchor/reporter at KUTV News. The panelists included Robert Griffiths, an adjunct professor at Brigham Young University, and Dianna Cannon, an adjunct professor at the University of Utah.
History of Social Security
The Social Security program, a cornerstone of American financial security, was signed into law by President Franklin D. Roosevelt in 1935. It was designed to provide financial support to the elderly, unemployed, and disadvantaged Americans, funded by payroll tax contributions.
“The program was very minimal in the beginning, really only to take care of people in the direst of circumstances,” said Professor Griffiths. “Since then, it has become one of the main pillars of retirement for older Americans. By the 1980s, it was clear that the program as it stood would not be able to handle the retirement of the baby boomer generation come the next few decades.”
Over the years, the program has undergone several amendments to expand its coverage and adapt to changing economic conditions. Today, Social Security continues to serve as a critical safety net for millions, ensuring a measure of economic stability for retirees.
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