AARP Chief Executive Officer Jo Ann Jenkins
has called for “meaningful … urgent””
changes to the Social Security system to
ensure its future.
The statement was offered in July in reaction
to the release of a report from the Social
Security Trustees.
“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,” said Jenkins. “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.”
She said the 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.”
Jenkins said 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 percent 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.