Social Security was Built on a Promise

Social Security is one of the most effective and essential anti-poverty programs in American history. Social Security serves as the largest source of retirement income for most of its nearly 69 million beneficiaries, who count on it to help cover living expenses and pay their bills, and 183 million workers who invest in Social Security with every paycheck.

Social Security is not a handout. It is an earned benefit — built on a sacred promise that must be kept. A promise that was born ninety years ago when President Franklin D. Roosevelt signed the Social Security Act into law on August 14, 1935, just 14 months after called on Congress to create a safeguard "against the hazards and vicissitudes of life."

In essence, the promise is this: if you work and contribute through taxes, Social Security will be there for you—as a safety net in old age, in the event of disability, or to support your dependents if you die. Somewhere, Roosevelt must be smiling, knowing the program he fought so hard to establish has made such an important contribution to the lives of tens of millions of Americans.

Today, over 2.9 million Pennsylvanians depend on Social Security for a portion of their income, the majority of them are age 65 or older.

By the Numbers:

• 74.8% of beneficiaries are retired workers
• 11.8% of beneficiaries are disabled workers
• 8% are spousal survivors
• 5.4% are children
• Average retired worker monthly payment: $1,979
• Average disabled worker monthly payment: $1,549
• 44% of those age 65+ rely on Social Security for at least 50% of their income
• 19% of those age 65+ rely on Social Security for at least 90% of their income
• These payments inject more than $62.9 billion into Pennsylvania’s economy every year.

For every beneficiary, their Social Security payment ensures access to necessities like groceries, housing and medical care. Simply put, Social Security embodies the best of America’s values: security, dignity and economic stability.

But as the program approaches its 90th anniversary in August, its future financial stability - and ability to fully pay out monthly benefits - is an ongoing concern. Here at AARP Pennsylvania and around the country, we are honoring this milestone—and doubling down on our fight to protect Social Security.

With thousands of older Americans reaching out to AARP worried and confused about their benefits and whether their payments will come on time, AARP activists responded by deploying two million emails and calls to Congress during the past few months, voicing their concerns about recent customer service changes. It’s been all-hands-on-deck, and it’s working as harmful proposed changes have been modified or rolled back.

But, without congressional action, Social Security benefits could be reduced by nearly 17 percent in the next decade — a loss of about $4,000 a year for the average retired beneficiary. Chronic underfunding has also led to record-long wait times for those seeking assistance or applying for lifesaving disability benefits. Addressing these issues will require bipartisan commitment and timely action.

For more than 65 years, AARP has worked with every administration and congress to protect and strengthen Social Security. We stopped arbitrary cuts to the cost-of-living adjustment, fought against congressional proposals to create fiscal commissions that could cut Social Security to pay for budget deficits, fought against turning Social Security into risky private accounts, and fought to ensure that those on Social Security would get automatic economic stimulus payments without having to file a tax return.

Visit aarp.org/protectsocialsecurity to learn more about how you can help protect Social Security.