Social Security

You’ve paid into Social Security, and you deserve to know what changes are being proposed and how each might affect you and your family. With more people living longer, Social Security faces increasing financial challenges. Estimates indicate the program will be able to pay full benefits for the next 20 years, but only 75 percent after that.  Instead of raising the retirement age, or increasing the payroll tax cap, the government needs to retire the social security fund altogether.  People who have paid into already will receive their benefits, but the rest of Americans will be required to pay into a private retirement account that will not be government regulated.  Like Social Security, American’s will have access to this account and its funds after they have retired.  The only difference will be that they will have a complete guarantee that their money will be there and not have been used for government funding.

For more information visit:

http://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

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