Mark Intermill, AARP Nebraska advocacy director, says action is needed soon, to avoid the Social Security funding shortfall.
“We encourage people to contact their candidates, see what their plans are to ensure the future of Social Security and make sure that we all have a good opportunity for a sound retirement,” Intermill tells Nebraska Radio Network.
Retiring Baby Boomers and fewer new workers taking their place are part of the reason funds are running dry.
Intermill says the last significant changes made to Social Security were in 1983 and policymakers did not expect slow wage growth and the global recession several years ago.
“So what we’re trying to do at AARP is raise the profile of this issue during this election campaign,” he says, “and make sure the candidates address it and let us know what their plans are.”
Many workers are investing in 401k’s and similar retirement programs as a safety net, but Intermill says those are not the solution.
“If you have an employer that’s helping with that, that’s wonderful, but that’s where we’re seeing kind of a decline in the numbers of people here in Nebraska who have that type of retirement program at work,” he says.