Social Security an 82 year-old success story

On August 14th, 1935, FDR  signed into law the Social Security Act and 82 years later the program remains one of the most popular and successful programs the U.S. Government has ever attempted. State director of AARP – Utah, Alan Ormsby, was a guest on KVNU’s For the People program on Monday. Host Jason Williams asked him what the anniversary means to their organization.

“At AARP that is one of the bread-and-butter issues that we’re always looking for, is how to keep Social Security strong and ensure that it’s not just available for people today but for generations in the future.

“It’s a program that is an earned benefit and something that people work their entire lives to have the opportunity to use. So it’s something that we’re always fighting for and it means a lot to the average Utahn,” he explained.

According to Ormsby, about half of all Utah residents over age 65 rely on Social Security for about 50 percent of their income in retirement and for about 25 percent – 100% of their income in retirement is from the program.

He says the big challenge Social Security faces today is the large number of Baby Boomers that are going to be entering the system in the next 10 to 15 years. He said the good news is Social Security should remain solvent for at least the next 25 years, or so, as long as nothing changes dramatically.

AARP Utah has about 220,000 members and the organization supports them with information, great online assistance and other great services that people can take advantage of. For more information: go to AARP.org or call toll-free 888-OUR-AARP (or 888-687-2277).

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