Cuts to Social Security would be devastating for seniors. Many older Americans experience financial insecurity and would have very little outside income if benefits were cut. By 2034, the Social Security trust fund will run out. When that happens, it’s possible that Social Security benefits could be cut by up to 22%. While Congress has time to act, seniors should be prepared for any eventuality.

According to Fox Business, there’s an easy way you can determine how much you might lose in the face of benefit cuts. By looking at your latest Social Security statement, you can determine just how much a 22% reduction in benefits would impact you. This can help you plan for the future—do you need a job to boost your savings or another source of income?

NORA is fighting for seniors in Washington. We want politicians to see older Americans as a priority rather than as an afterthought. That’s why we’re fighting for The COLA Act of 2021. This legislation would improve Social Security by guaranteeing a cost-of-living increase every year. For seniors, Social Security benefits being cut would be a huge blow. But an increase every year could lead to greater financial security.

Learn more about our mission today and add your name to our online petition. Then, follow NORA on Twitter and Facebook so you never miss an update.