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No More Talk; Time to Act on Social Security Reform
Ken Morris, Vice-President of the Society for Lifetime Planning, wrote this opinion piece for the Media News Group. Morris notes the looming insolvency of The Social Security Trust Fund in 2034, a fact displayed at the bottom of all benefit statements sent to those who pay Social Security taxes or collect benefits. He notes the years of surpluses are over. Social Security ran a deficit in 2018 and will continue doing so every year until 2034, when the accumulated surpluses will be gone (they are being used now to keep benefits from being cut). Morris advocates for reform sooner rather than later, though does not endorse any specific reform idea or plan, instead leaving it to our elected representatives to lead and then tackle the issue. Read full piece here.
The Association of Mature American Citizens (AMAC) advocates for a strengthening of Social Security and has developed a bipartisan compromise bill, titled “The Social Security Guarantee Act,” taking selected portions of bills introduced by Rep. Sam Johnson (R-TX) and Rep. John Larson (D-CT) and merging them with the Association’s original legislative framework to create the new Act. AMAC is resolute in its mission to get the attention of lawmakers in DC, meeting with a great many congressional offices and their legislative staffs over the past several years. Learn more about AMAC’s Social Security Guarantee here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.