What if Congress doesnt fix Social Security, what can future retirees do?
According to a recent survey by Employee Benefit Research Institute (EBI), only seven percent of American workers are very confident that Social Security will pay them benefits in retirement equal to the benefits being paid to current Social Security recipients. Yet retirement savings figures suggest average American won’t be able to replace a dramatic cut to Social Security. According to Fidelity Investments, only six out of every 10 workers are saving for retirement.
In Todd Campbell’s article for The Motley Fool (www.fool.com), he asks “Will Social Security Survive?” He points out, even if Congress doesn’t fix Social Security, it will survive, but smart future retirees would be best served planning for a worst-case scenario. Read his article here…
After reading this article, note that the Association of Mature American Citizens (AMAC) has developed a bipartisan compromise bill, titled “Social Security Guarantee Act of 2017,” taking selected portions of the Johnson and Larson bills and merging them with the Association’s original legislative framework to create the new Act. AMAC representatives have been resolute in their mission to get the attention of lawmakers in Washington, meeting with many, many congressional offices and their legislative staffs over the past several years. Learn more about AMAC’s proposed solution here…
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