Check Out AARP’s Online Social Security Resources

By  Jean C. Setzfand “How secure do you feel about your retirement?” I may be the only person around using that question as a cocktail-party opener. But even if you’re not constantly surveying everyone you know, it’s likely you’ve seen the recent attention-grabbing headlines about people’s lack of retirement savings. So you won’t be surprised to learn that my unscientific surveys match the more qualified studies, in which folks report feeling “anxious” and “uncertain” about retirement or even that it’s “not possible.” …

Protect Your SSN, and Be Thankful It’s Not 078-05-1120

Seventy-nine years ago today, President Franklin D. Roosevelt signed the Social Security Act into law, birthing that most important government program and, as a result, a coveted prize of identity thieves: your Social Security number. You know why you need to guard your SSN like an amped-up Rottweiler: In the wrong hands, it’s the quickest and arguably most common way for an ID thief to pose as you to open credit accounts and get medical care, your tax refund, even a job. …

Cut Social Security? Say Goodbye to Older Voters

Seventy-nine years after its creation, Social Security remains a vital key to Americans’ retirement security. And with the 2014 elections less than three months away, strengthening the program is a top priority for older voters, according to a new AARP survey of voters 50 and older. The message to candidates is clear: Stop treating Social Security like a line item in a budget. Older voters have earned their benefits through a lifetime of hard work and paying into the system. …

Fed Report Paints Dreary Retirement for Some

Five years after the Great Recession, many Americans say they’re still struggling to get by financially. Nineteen percent of adults ages 55 to 64 say they have no retirement savings or pensions to fall back on, according to a survey by the Federal Reserve. Also troubling was that an additional 20 percent of people age 60 and older say they’ve given no thought at all to planning for their retirement. That was also the case for about 19 percent of …

Top 8 Facts You Need to Know About the 2014 Social Security Trustees’ Report

On July 28, the Social Security Administration released The 2014 Annual Report of the Board of Trustees, which details the financial status of the Social Security program. The report makes clear that:   Social Security is vital to millions of Americans. At the end of 2013, Social Security provided benefits to about 58 million people: 41 million retired workers and their dependents, 6 million survivors of deceased workers, and 11 million disabled workers and their dependents.   Social Security’s Trust …

Lawmakers Urged to Act Soon to Shore Up Social Security

The financial outlook for Social Security remains largely unchanged from last year, with the combined trust funds that pay benefits to retirees and workers with disabilities expected to exhaust reserves in 2033, according to a government report released today. After that date, money coming into the system would be enough to cover 77 percent of benefit obligations, according to the Social Security trustees report. At a news conference on Monday afternoon, Treasury Secretary Jack J. Lew said Social Security and Medicare are …