How can you “lose” Social Security benefits?
For most Americans, working and earning carries an obligation to contribute a portion of your earnings to the Social Security system that you will surely rely on during your golden years. Your employer contributes the same amount as you do unless, of course, you’re self-employed in which case you pay both the employee and employer portion of the Social Security FICA tax. The good news is that when the time comes for you to hang up your work clothes, Social Security will provide you with retirement income. But there are a few ways that you could end up losing some of your earned Social Security benefits, as explained in this Motley Fool article by Chuck Saletta. Click here to read more.
One of the ways to lose benefits as described in the subject article is to “be alive in 2034” when the Social Security Trust Fund may be depleted. AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.