It’s clear that now more than ever, Americans are concerned about Social Security. With recent news about the program’s looming insolvency, many retirees have a dismal outlook when it comes to their benefits.
However, as Maurie Backman at The Motley Fool points out, retirees aren’t going to see their benefits go away entirely, even in the worst-case scenario. That’s because benefits are paid out of current payroll taxes. Yet a cut of even a few percentage points could be tremendously harmful to seniors.
At NORA, we believe that seniors are owed more than $10,000 due to missed COLAs over the last few years – in 2010, 2011, and 2016. We’re calling on Congress to make this right. If you’re concerned about Social Security and you’re ready to see seniors paid what they’re owed, please sign our online petition today! And don’t forget to follow NORA on Twitter and Facebook for more of our updates.