This commentary is by Beth Stern of Marshfield, volunteer state president for AARP Vermont.
The vital lifeline for tens of millions of Americans everywhere — including 161,841 people in Vermont — used for housing, groceries, gas, and other everyday necessities is about to mark its 90th birthday.
And with that anniversary comes a responsibility to strengthen the program — and find ways to help it age in the healthiest way. As the foundation of retirement in America, our financial future depends on protecting Social Security for decades to come.
Social Security will face challenges in the years ahead, but it’s our responsibility to make sure the program continues to serve the 67 million Americans who depend on it.
The history of the program shows how vital it is for Americans’ secure retirement. On Aug. 14, 1935, President Franklin D. Roosevelt signed the Social Security Act, and in January 1935, Ida May Fuller, the first person to receive Social Security (and a Vermonter!), collected a monthly check of $22.54 — that’s $518.58 in inflation-adjusted dollars.
From that start, the program now provides $1.4 trillion in retirement security. It is the only inflation-adjusted retirement program, giving Americans confidence to plan their retirements. That’s nationwide.
Nearly one in four (161,841) Vermont residents collect Social Security benefits, and 42,000 Vermonters are lifted out of poverty every month. Social Security helps Vermonters live and retire with dignity, offers crucial support to those with disabilities, and serves as a financial lifeline for families navigating the loss of a loved one.
Social Security will never “go broke.” That’s a fact. Social Security operates as a pay-as-you-go system. As long as workers continue to contribute, there will be Social Security for those collecting.
Funded by payroll taxes, the program will keep paying beneficiaries. However, it does face funding challenges. The latest Social Security Trustees’ Report indicates that the surplus will be exhausted by 2035. To prevent that shortfall, Congress must again take action — just as it did during the 1983 reform — before millions of Americans are left with less than they’ve earned.
Customer service is another area where Social Security is facing challenges. Administrative chaos at the Social Security Administration this year has contributed to a customer service crisis that has been ongoing for years.
SSA has struggled with call wait times, hold times, customer service resolutions and staffing issues, according to SSA’s own data. Many Americans who need access to the program face hours on the phone or in line at their local offices. And budget and staffing levels have strained SSA’s ability to provide vital services.
This year, wait times are increasing, fewer people can reach a Social Security representative to get assistance, and this issue arises just as about 10,000 people retire every day.
The new Social Security Commissioner would be well served by re-committing the Social Security Administration to providing timely, efficient and effective customer service. SSA needs to be clear when communicating any possible changes and what effects lower staffing levels will have. And Congress needs to provide oversight to ensure that customer service is prioritized at an agency that has struggled to serve Americans everywhere.
Throughout our history at AARP, we have worked with every Administration and Congress, regardless of party, to protect and strengthen Social Security. More than 67 million Americans rely on this vital program, and for 90 years, Social Security has been the foundation of retirement in the United States.
It’s imperative to ensure the strength of this Social Security not just for another 90 years, but for generations upon generations to come.
