— President Franklin D. Roosevelt upon signing the SS Act in 1935.
- President Jimmy Carter, December 20, 1977
- President Ronald Reagan, April 20, 1983.
Updated: May 9, 2013
A new survey shows that more Americans are willing to make sacrifices now, such as paying higher taxes, to protect and strengthen Social Security benefits in the future. The surveyed group did not seem to favor a major overhaul to the current Social Security program, but expressed interest in changes that would benefit working class and middle class Americans when they retire, while paying higher taxes now in order to compensate for future gains.
AAUW’s 2011-2013 Public Policy Program advocates for “strengthening retirement benefits and programs…and protecting Social Security from privatization.” AAUW believes that Social Security is of particular importance to the economic security of women. Social Security is a national commitment through which we care for one another across generations, and it is one of the most successful anti-poverty programs in our nation’s history.
- from AAUW's Washington Update for February 1, 2013.
The Social Security Administration is expanding the services available through its personalized online accounts. Users will now be able to change their address, update direct deposit information, and access their benefit verification letter, payment history, and earnings record through their my Social Security account. People age 18 and older can sign up for a my Social Security account online.
- from AAUW's Washington Update for January 11, 2013.
The Pew Research Center released a survey on Monday that shows an increase in anxiety across all age groups concerning financial security after retirement. While Baby Boomers have traditionally been the most concerned age group, Americans aged 35 to 44 are now the most worried about retirement. Nearly half of those in their late 30s said they had “little or no confidence” that they would have enough money for retirement, more than double the percentage that said so in 2009. The study proposes that this age group may be most anxious because many of them bought homes in the peak of the housing boom and are still concerned about the devalued housing market.
AAUW believes in “strengthening retirement benefits and programs, including pension improvements and protecting Social Security from privatization.” Older women especially benefit greatly from this program, since many depend on Social Security as their primary source of retirement income.
- from AAUW's Washington Update for October 26, 2012.
On Tuesday, the Social Security Administration announced that retirees should expect an annual benefit boost of 1.7 percent in January 2013 (a monthly raise of $21 for the average beneficiary) from the cost-of-living adjustment (COLA). While there was no annual increase in 2010 and 2011, the 2012 increase was 3.6 percent. The automatic, cost-of-living adjustments depend on consumer prices, which have risen by less than 2 percent in the past year.
AAUW believes Social Security is of particular importance to the economic security of women. Social Security is a national commitment through which we care for one another across generations, and it is one of the most successful anti-poverty programs in our nation’s history.
- from AAUW's Washington Update for October 19, 2012.
The Social Security Administration has made Social Security statements available online to all workers over 18 years of age. The new site allows people to see all of the Social Security and Medicare taxes that they have paid over their lifetime, check for errors in their earning record, and estimate their future monthly benefits based off monthly earnings and expected age of retirement. Create your own account and check your statement now at www.socialsecurity.gov/mystatement.
- from AAUW's Washington Update for October 19, 2012.
A recent survey by AARP shows voters over the age of 50—non-retired baby boomers—are especially anxious about economic security in the upcoming election. This concern goes beyond job creation and instead is focused on security after employment. For this bloc of voters, their future and retirement are the most important issues, and there is dissatisfaction with the candidates’ stances, or lack of stances, on the topics. Respondents indicated that more information from the candidates on Medicare and Social Security will help sway how they will cast their ballots come November.
AAUW believes Social Security is of particular importance to the economic security of women. Social Security is a national commitment through which we care for one another across generations, and it is one of the most successful anti-poverty programs in our nation’s history. Due to the national debt and deficit, all government programs are currently under scrutiny for reform and savings. Social Security should not be an exception, but AAUW strongly opposes privatizing Social Security as a solution.
- from AAUW's Washington Update for August 24, 2012.
In celebration of this week’s anniversary of the Social Security program, which was signed into law on August 14, 1935, the National Academy of Social Insurance (NASI) released a video titled “Social Security: Just the Facts.” The four-minute video explains how Social Security works, including how it’s paid for and how many people in our country depend on it, and dispels the common myths surrounding the program. The video is accompanied by a resource page with more information about social insurance programs.
AAUW believes Social Security is of particular importance to the economic security of women. Social Security is a national commitment through which we care for one another across generations, and it is one of the most successful anti-poverty programs in our nation’s history.
- from AAUW's Washington Update for August 10, 2012.
Workers 18 and older can now go to Social Security, where they can create a secure account to review their estimated Social Security benefits based on current earnings and when they plan to retire. The online statements also include a year-by-year history of taxable earnings, as well as the total amount of Social Security and Medicare taxes paid over a worker’s lifetime. The Social Security Administration mailed statements until last year and will save an estimated $70 million annually by providing workers with online statements. Statements will be mailed to those 60 and older.
- from AAUW's Washington Update for May 4, 2012.
A $150 billion economic package that will extend the payroll tax holiday through 2012 for 160 million workers was passed today by both the House (293-132) and Senate (60-36). In this plan, workers will continue to receive a small amount of extra cash with each paycheck and millions more will retain unemployment benefits. President Barack Obama is expected to sign the tax cut into law, allowing him to claim victory on a portion of the jobs bill that he presented to Congress last fall. Also included in the plan is a reduction in unemployment eligibility, which was pushed for by House Republicans, and a temporary fix for Medicare payment plans to prevent a 27 percent drop in fees paid to doctors who treat elderly patients.
Because Social Security is so critical to the economic security of millions of Americans, AAUW opposes the extension and expansion of the Social Security payroll tax holiday. Reducing the payroll tax rate breaches Social Security’s guaranteed funding stream and forces it to rely on general funding transfers, setting a dangerous economic and political precedent. Additionally, expanding and extending the holiday to more workers will make it more difficult to end the reprieve, further threatening Social Security’s long-term solvency. Obviously, we need sound policies that promote job growth and address the federal deficit, but reducing Social Security contributions and endangering the program’s integrity does nothing to address these problems. AAUW will work to promote job creation and economic opportunity for all Americans, especially women, and ensure that programs that assist vulnerable Americans are protected.
- from AAUW's Washington Update for February 17, 2012.
Employers who sponsor pension and 401(k) plans will be offered more information about the administrative and investment costs of providing such plans, according to a final rule this week by the Obama administration. The policy aims to enhance retirement security for millions of Americans by increasing transparency and broadening available options in retirement savings plans.
AAUW supported these measures to help Americans maximize their ability to save responsibly and securely. Additionally, AAUW is committed to all efforts to help secure financial stability for women retirees. Women are more likely to suffer financial insecurity in their later years due to the gender pay gap, not spending as much time in the workforce, and living longer on average than men.
- from AAUW's Washington Update for February 3, 2012.
Social Security Works (SSW) has released a new guide showing the positions of the Republican candidates on Social Security. The guide indicates the candidates’ general friendliness toward the program and includes some of their statements on the subject.
- from AAUW's Washington Update for January 6, 2012.
In late December, Congress passed, and President Obama signed, a two-month extension of the payroll tax reduction. This extension continues the 2 percent reduction in payroll tax paid from an employee’s paycheck into the Social Security Trust Fund. Despite a bitter legislative battle, the president has indicated that he intends to make further extending the tax holiday a top priority for 2012. However, some observers have expressed concern that this reduction could threaten Social Security’s long-term solvency by making it vulnerable to political cuts and changes
AAUW is committed to protecting Social Security, and believes that reducing contributions to it is not a good way to help our economy. We need sound policies that promote job growth and address our deficit, but reducing Social Security contributions and endangering the program’s integrity does nothing to address these problems.
- from AAUW's Washington Update for January 6, 2012.
With some GOP presidential candidates and others targeting Social Security, the Economic Policy Institute found it prudent to publish an article debunking some of the ten most common myths or misunderstandings about Social Security. The fact sheet addresses confusion over the size of benefits, the strength of the trust fund, and the costs of the Social Security program.
AAUW believes that it is vital to women’s economic security to provide for the long-term solvency of Social Security and to maintain its current guaranteed benefits. The current Social Security system is more than just a retirement program; across the lifespan, it is one of the most successful anti-poverty programs in our nation’s history, providing benefits to many children, disabled workers, surviving spouses, and retirees. Older women especially benefit greatly from this program, since many depend on Social Security as their primary source of retirement income.
- from AAUW's Washington Update for January 6, 2012.