When President Franklin D. Roosevelt established Social Security in 1935, he saw the program as a fundamental way to advance economic fairness and social justice. Social Security has grown and improved to fulfill FDR’s vision, and we have just completed a year celebrating the 80th anniversary of this important program.
Today, Social Security’s insurance protection is the foundation of retirement security for almost all American workers and families. The average Social Security benefit is modest – about $1,340 a month – yet this benefit is the main income for most seniors. For two in three seniors who receive it, Social Security is more than half of their total income. Continue reading