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Social Security Turns 80, Loved by Americans of All Ages
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Social Security Turns 80, Loved by Americans of All Ages
Social Security Turns 80, Loved by Americans of All Ages
About 59 million people received a Social Security benefit in 2014. Social Security is a key source of retirement income for older Americans: about 23 percent of people age 65 and older live in families that depend on Social Security benefits for 90 percent or more of their income. Another 25 percent receive at least half but less than 90 percent of their family income from Social Security. Reliance on Social Security increases with age, with nearly one third of persons aged 80 and older depending on Social Security for 90% or more of family income. In 2013, Social Security kept 33 percent of older Americans out of poverty.
The information below was released by AARP on Thursday, Aug. 13, 2015.
Social Security turns 80 on August 14, 2015 and has fulfilled the promise made by President Franklin D. Roosevelt when he signed it into law, that it would “protect the average citizen and his family against the loss of a job and against poverty-ridden old age.” It has done just that. In Utah alone, Social Security lifts 94,000 Utah retirees from poverty; 42 percent of the state’s population age 65 and older would have incomes below the poverty line without Social Security. [1]
-- The following is a guest blog by Kate Emery, founder and CEO of reSET, The Social Enterprise Trust --
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