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Social Security will remain solvent as long as people contribute. - UCLA Anderson Review
There is a lot of unnecessary fear that Social Security will go bankrupt. Social Security operates on a pay-as-you-go basis and remains funded as long as workers contribute. Social Security is experiencing a financial deficit, which may lead to reduced benefit payments in the near future as the ratio of workers declines while the number of recipients increases.
The retirement system’s financial situation is serious, but not as catastrophic as many headlines suggest. Social Security currently has enough reserves in the Trust Fund to pay full benefits through 2032, but, unless Congress makes some changes to the program, all recipients, current and future, face a benefit reduction of 75%-80%. While it would not be ideal, it is still better than zero.
Carla Fried has written an article that reviews research on how many people feel Social Security won’t be there for them. The percentage is surprisingly high. There are a variety of options to change Social Security to ensure full payments for current and future beneficiaries being discussed in Congress and by the Social Security Administration. Read her full report by clicking here….
Attached is the AMAC’s Social Security Guarantee You can read it here …….
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