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Public Policy: Social Security
8/19/2016

Social Security protects families in the event that a worker retires, becomes disabled or dies. These guaranteed insurance benefits are especially crucial to people of color who tend to have fewer alternative resources, become disabled at higher rates, and rely on Social Security's family benefit features disproportionately. Social Security provides many elderly Hispanics with their sole or primary source of income in retirement.

8/18/2016

It is estimated that there are about 11 million undocumented workers in the United States today. These immigrants come to our country to work.  They contribute to the economic health of our nation.  They also make substantial contributions to Social Security through the payroll tax, even though neither they nor their families are eligible to receive benefits.  The National Committee to Preserve Social Security and Medicare believes that bringing undocumented workers into our national family would be beneficial for the country and good for Social Security as well. 

6/28/2016

Since its inception, Social Security has been the foundation on which America’s retirement security rests.  It has demonstrated its strength by paying benefits without interruption in good times and bad, during periods of recession and disaster and during recovery and healing.  The program’s durability is demonstrated yet again in this year’s Trustees Report. The report is good news for working Americans and for seniors.

6/16/2016

The nation’s current minimum wage of $7.25 per hour has not been increased since 2007.  In 2013, President Obama proposed increasing the nation’s minimum wage to $10.10 per hour.  The Raise the Wage Act of 2015 (S. 1150 and H.R. 2150), introduced by Senator Patty Murray and Representative Bobby Scott, would increase the minimum wage from its current rate of $7.25 per hour in three steps – to $8.00 three months after enactment, $10.00 after two years, $11.00 after three years and $12.00 after four years.  Although many retirees may question what impact an increase in the minimum wage would have on their lives, the increase could make a difference for seniors.
4/25/2016

According to the Social Security Trustees, the Social Security Trust Fund will be able to pay full benefits until 2034, and incoming payroll taxes will be sufficient to pay about 75 percent of benefits thereafter. Some are using this modest gap in long-term funding as a pretext to justify proposals for large cuts in Social Security benefits. One frequently-discussed change to Social Security is to increase the age at which a retiree receives full benefits.
4/20/2016

Social Security protects families in the event that a worker retires, becomes disabled or dies. These guaranteed insurance benefits are especially crucial to people of color who tend to have fewer alternative resources, become disabled at higher rates, and rely on Social Security's family benefit features disproportionately.
4/14/2016

The retirement age for full Social Security benefits has already been increased from 65 to 67 for anyone born in 1960 or later. This increase was enacted in 1983 as part of comprehensive legislation to strengthen Social Security's financing at a time when the program faced an imminent financial crisis. The increase in the full retirement age is being phased in slowly based on a person's year of birth.
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