Social Security: Will it Be There For Me?

The Transamerica Center for Retirement Studies recently published its report titled “A Compendium of Findings About American Workers,” and the results speak volumes on the workforce’s need for assurances about Social Security’s future. “Most workers are counting on Social Security as a meaningful source of income in retirement, and most are concerned about its future,” says Catherine Collinson, CEO and president of the Center and the Transamerica Institute. This sentiment is backed up by their Harris Poll of over 6,000 workers, more than three quarters of whom expressed concern that the program will not be there for them when they need it.

Planadvisor’s Lee Barney provides some insights into the results of this study, contrasting the concern about Social Security with the number of respondents–20%–who report that they’re saving enough to compensate for the absence of Social Security benefits. Read his post here…

Also, take note that the Association of Mature American Citizens is actively engaged in the struggle to ensure Social Security’s future, and has developed its “Social Security Guarantee Act of 2017” legislative framework, a set of proposals that would resolve the program’s solvency problem without a raise in taxes. Included in this framework is a proposal to adopt a new form of retirement savings–Social Security PLUS–that would provide a more effective means for younger workers to save for their retirement. Learn more about this legislative approach by visiting the AMAC website.


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