WASHINGTON, DC—AARP Chief Executive Officer Jo Ann Jenkins offered the following statement in reaction to the Social Security Trustees report released today:
“In its 80th year, Social Security remains the bedrock of a secure retirement for millions of Americans who have paid in over a lifetime of hard work. For children and spouses who lose an immediate working family member to workers with disabilities, Social Security remains part of the fabric of our lives to protect families from both expected and unexpected challenges we may face.
“Today’s report shows that we must seek meaningful, in some instances even urgent, changes to ensure the program is on stable ground for future generations. An honest, open, national discussion about the value of Social Security and its importance to millions of retired workers, spouses, children, veterans, and persons with disabilities remains the clear path forward for this crucial component of economic security.
“While the Trustees once again report that the combined Old Age, Survivor and Disability Insurance Trust can pay full retirement, survivor and disability benefits for approximately two more decades, we know that if no action is taken, benefits will be cut by nearly 25% in 2034. As the campaign season gets underway, we will be urging all Presidential candidates to share their plans for the long term solvency and adequacy of Social Security.
“The Trustees also report that the Disability Insurance Trust Fund faces a fast-approaching funding gap and confirms that a rebalancing of assets in the combined Social Security Trust Funds is needed to ensure no beneficiary faces an imminent reduction in their earned benefits.”
Note to reporters: Fact sheets from the AARP Public Policy Institute provide national and state data on Social Security as a key source of retirement income. Please also visit www.aarp.org/ppi and search on “Social Security.”
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About AARP AARP is a nonprofit, nonpartisan organization, with a membership of nearly 38 million, that helps people turn their goals and dreams into real possibilities, strengthens communities and fights for the issues that matter most to families such as healthcare, employment and income security, retirement planning, affordable utilities and protection from financial abuse. We advocate for individuals in the marketplace by selecting products and services of high quality and value to carry the AARP name as well as help our members obtain discounts on a wide range of products, travel, and services. A trusted source for lifestyle tips, news and educational information, AARP produces AARP The Magazine, the world's largest circulation magazine; AARP Bulletin; www.aarp.org; AARP TV & Radio; AARP Books; and AARP en Español, a Spanish-language website addressing the interests and needs of Hispanics. AARP does not endorse candidates for public office or make contributions to political campaigns or candidates. 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 atwww.aarp.org.
Mark Bagley, 202-434-2560, firstname.lastname@example.org, @AARPMedia