August 14, 2014

News Release

“As we celebrate Social Security’s 79th anniversary today, it’s important to acknowledge the program’s vital role in protecting both current and future generations of Americans. Social Security has made a profound improvement in the economic security of millions of families, especially during these tough economic times. For too many Americans, personal savings have been difficult to accumulate because middle class wages have remained stagnant for three decades.  More than half of all workers have no retirement plans at work and millions more have no retirement savings. 

It’s time Washington addresses our nation’s retirement deficit and its potentially devastating impact on the lives of working class families. This economic recession has clearly shown that Congress must search for ways to improve Social Security’s benefits, not cut them.  The National Committee has endorsed nine different pieces of legislation that would enhance Social Security. These include S. 567 and H.R. 3118 which, when fully phased in, would boost benefits by approximately $70 per month for new beneficiaries and adopt the more accurate consumer price index for the elderly (CPI-E) for determining the annual cost of living adjustment (COLA).  As a fiscally responsible way to increase and strengthen Social Security finances,  we also support lifting the payroll tax cap. NCPSSM’s national Boost Social Security Now Campaign continues to raise awareness of the need to increase benefits.

Our nation needs more from Social Security, not less.  These modest earned benefits have become the last remaining pillar of economic security for millions of Americans who will depend on the program for most, if not all, of their retirement income.”….Max Richtman, NCPSSM President/CEO

###

The National Committee, a nonprofit, nonpartisan organization acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the Board of Directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.

Media Inquiries to:

Pamela Causey 202-216-8378/202-236-2123

Kim Wright 202-216-8414   www.ncpssm.org