August 14, 2015 marked the 80th anniversary of the Social Security Act and for those of us 65 and older, Social Security continues to be a critical source of income.
Social Security was established to protect seniors by setting aside savings we contributed in our working years for a time we can no longer continue working. It is estimated that Social Security keeps approximately 15 million Americans above the poverty line according to the Center on
Budget and Policy Priorities.
Many Americans also rely on retirement benefits and pensions they pre-funded in their working years. However, many of their former employers are now backing out of their fiduciary responsibilities or reducing the benefits retirees already paid for and were guaranteed. With experts predicting that Social Security may be depleted by 2033, retirees are concerned.
One way Congress can protect older Americans is by passing HR 1856, the Employee Benefits Protection Act, to make it more difficult for companies to cancel guaranteed benefits.
I ask that retirees stand together by joining ProtectSeniors.Org, a non-profit group leading the charge to protect America’s retiree benefits.