AARP Chief Executive Officer Jo Ann Jenkins
has called for “meaningful … urgent”” changes to
the Social Security system to ensure its future.
The statement was offered in July in reaction
to the release of a report from the Social
Security Trustees.
“In its 80th year, Social Security remains
the bedrock of a secure retirement for millions
of Americans who have paid in over a lifetime
of hard work,” said Jenkins. “For children and
spouses who lose an immediate working family
member to workers with disabilities, Social
Security remains part of the fabric of our lives
to protect families from both expected and
unexpected challenges we may face.”
She said the report “shows that we must seek
meaningful, in some instances even urgent,
changes to ensure the program is on stable
ground for future generations. An honest, open,
national discussion about the value of Social
Security and its importance to millions of retired workers, spouses, children, veterans, and
persons with disabilities remains the clear path
forward for this crucial component of economic
security.”
Jenkins said the trustees once again report
that the combined Old Age, Survivor and Disability
Insurance Trust can pay full retirement,
survivor and disability benefits for approximately
two more decades.
“We know that if no action is taken, benefits
will be cut by nearly 25 percent in 2034. As the
campaign season gets underway, we will be
urging all presidential candidates to share their
plans for the long term solvency and adequacy
of Social Security.”
The Trustees also report that the Disability
Insurance Trust Fund faces a fast-approaching
funding gap and confirms that a rebalancing of
assets in the combined Social Security Trust
Funds is needed to ensure no beneficiary faces
an imminent reduction in their earned benefits.