AARP Speaks Out on 2016 Social Security Trustees Report

“The Social Security Trustees report comes this year at an opportune time to remind us that Americans want to live independently as we age, so as we watch parades, and fireworks and wave our flags during upcoming July 4 ^th celebrations, we also have an opportunity to ask candidates running for office what they would do to update the popular icon of Social Security if elected.

“We must ask our Presidential candidates to commit to action on Social Security’s future, and also ask the same of those running for Congress and the Senate. AARP launched Take a Stand in the early days of this Presidential campaign season to demand plans from those seeking the White House and while the election season may have seen many twists and turns so far, one thing the remaining Presidential candidates agree on is that we must continue to keep Social Security strong for future generations. Throughout the 2016 election, we’ll continue to push candidates to take action if elected.

“Social Security remains the foundation of a secure retirement for millions of Americans who have paid in over a lifetime of hard work. But it also remains a foundation of income for workers’ families –including children and spouses who lose a family member – as well as workers with disabilities. Social Security remains a critical part of the fabric of our lives to protect us from both expected and unexpected challenges.

“While the Trustees once again report that the combined Old Age, Survivor and Disability Insurance Trust can pay full retirement, survivor and disability benefits for some time, we know that if no action is taken, benefits could be cut by nearly 25% in 2034, and families could lose up to $10,000 per year in benefits.

“Candidates who don’t take a stand on Social Security in this important election year choose to put the program’s strength at risk in the long-term. Though people of all ages rely on it, its importance to older Americans -- already under tremendous pressure from wage stagnation and shrinking pensions -- is only likely to grow. And we know older Americans will vote this year, most likely in higher percentages than any other group of Americans.”