Guest Bloggers, Retirement

A Secure Retirement for All

October 6, 2016 • By

perez-guest-blog-picHaving a secure retirement is an important pillar of strength for the middle class in America. Yet, it is unavailable to too many workers in our country. During Hispanic Heritage Month, we’re acutely aware of the particular challenges faced by middle class Latinos in the workforce. Not only do Latinos face wage disparities, they’re also less likely to have access to retirement savings plans. Research shows that only about a third of Latino workers have access to a retirement plan through their employer, compared to more than half of African-American and white workers.

For this reason, the Obama Administration has worked to expand access to retirement savings opportunities for everyone. We recently finalized rules that will help more states create retirement programs for workers who don’t have access to a 401(k). Such programs are just one more way to make it easier for more workers to save for retirement.

It’s just as important to protect those hard-earned savings, and the Department of Labor has been active on that front as well. Earlier this year, we established new rules to ensure that the guidance you receive from a financial adviser about your retirement account is always in your best interest.

As important as individual savings may be, almost no one can save enough for a decades-long retirement alone. This entire administration has pushed to strengthen Social Security so that it fulfills the promise made to today’s retirees and workers looking forward to a financially secure retirement. Social Security is incredibly important to America’s workers and retirees, particularly Latinos, who may not have other retirement savings.

If you haven’t started saving, now is the time. Whether this is your first day on the job, or you’re approaching retirement, putting something away now will mean breathing a little easier in the future. The Labor Department, our colleagues at the Social Security Administration, and our sister federal agencies will keep working hard to strengthen existing programs and create new savings opportunities so that all workers can enjoy the dignified retirement they deserve.

About Thomas Perez, Secretary of Labor, U.S. Department of Labor


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  1. tony

    All the Congressman make more than the FICA cap. They will never pass a bill that will tax more of their money. Keep dreaming.

    Reply
  2. tammy

    “A secure retirement for all” is inaccurate at best. The title should read “A Secure retirement for some- if you follow our maze of discriminatory rules”.

    I am 45 years old, a mother of three older children and physically disabled ( I was born with cerebral palsy ). I’ve never collected one red cent of money from the Socialist Security System, even though I have applied several times and they find me disabled.

    Technically, I am an “adult disabled child” (please look this up, it is NOT SSI or SSDI) but have never been able to secure any benefits whatsoever from the Socialist Security system, even under that program because I got married to an “Able bodied person”. The Socialist Security system is too busy paying benefits to some people who scam the system and worrying about adult disabled children (who they pay benefits to off of a parents record) marrying an able bodied person. This gives them the justification to cut off benefits to the adult disabled child because the husband (in theory) can now support the disabled person. This theory works great, if your husband is rich and you have no need for money but what it actually does, is to force two adults (one disabled one able bodied person) to live off of one income. In the real world, the socialist security system is forcing adult disabled children to only marry other disabled persons (and NO able bodied persons) at the threat of loosing any and all benefits that they are entitled to.

    If you are a physically disabled person (an adult disabled child) and you happen to marry an “able bodied person” you will be loosing out on a lifetime of benefits, all because of a one word “rule” that prohibits you from marrying an “able bodied person”. Best of all, they never tell you about their “Rule” so that they can justify cutting off any benefits that you may be due.

    Because you are physically disabled (adult disabled child) and you choose not to marry another adult disabled child or disabled person drawing off socialist security, you WILL LOOSE ANY AND ALL BENEFITS FOR LIFE. This means that the SOCIALIST SECURITY system is TELLING YOU WHO YOU ARE ALLOWED TO MARRY and who you are
    NOT ALLOWED TO MARRY! It is a discriminatory act “rule” and should be ILLEGAL!

    Even though I am permanently and totally disabled, if I marry an “able bodied person”, somehow that marriage makes everything ok and I am no longer considered disabled (in the eyes of the socialist security system). Magically (because I married an able bodied person), the pixie fairies come down and cure my disability, because now I can just go out and find gainful employment, no one will discriminate against my physical disability and everything will be grand, right? Somehow magically, marrying an able bodied person makes my physical disablility dissappear and now I am cured, right? WRONG!

    The issue is a special “Rule” that the Socialist Security System uses to discriminate against “certain” people. If you are a “physically disabled person” (AKA-certain people) and happen to marry an able bodied person, then the SOCIALIST SECURITY system will use special “Rules” to legally discriminate against you and deny you benefits, even if you appeal online.

    The SOCIALIST SECURITY system has caused me a lot of economic hardship all because I married an able bodied person. The SOCIALIST SECURITY system thinks someone who is physically disabled (permanently and totally disabled) marries an “able bodied person”, that somehow magically they are cured of their physical disability and two people can survive off the able bodied persons income. WOW, talk about a bunch of bureaucratic idiotic thinking, that somehow this would not cause a financial hardship….. amazing.

    The rules that the Social Security Administration uses to legally discriminate against persons who are “Adult Disabled Children” who happen to marry an able bodied person, are discriminatory. This is loosely referred to as the “marriage penalty” but I call it exactly what it is, a legal form of discrimination.
    I firmly believe this rule, is an act of bias, prejudice and discrimination against people who (by no fault of their own) are born disabled and happen to marry an able bodied person

    Please write your Congressional Representative and tell them to end this modern day form of Legal Discrimination. In this day of fairness and equality, there are still some people suffering from an outdated and oppressive bureaucratic rule.

    (PS. notice how the only thing any of these SOCIALIST SECURITY workers ever say are quotes of the rules or processes, like a worker drone. They are unable to address any topics that fall outside of their rule books). Typical bureaucracy and bureaucratic responses, like trying to argue over lost change with a vending machine!

    Reply
  3. Chuck Long

    Social Security reform in the way of privatization and individual accounts is a hot button topic. However, with the Social Security Trust projected being defunded in 18 years radical change is needed. As Americans we think of Social Security reform by way of privatization with individual accounts is a new and untested approach. Nothing could be farther from the truth.  In 1981 the country of Chile was going down the same road of insolvency as the United States. Their approach was to privatize their old failing Pay-as-you-go public pension system with privately manages individual accounts. As of 2007 the total assets under management reached US $111 billion dollars, about 64% of Chile’s gross domestic product. The fund will see their first wave of retirees starting in five years. This plan is not without its problems, as with any major reform maintenance is needed. The “Chilean model” reveals some major reforms over the last 35 years, including broadening the allowable investments and introducing a choice of several types of pension funds with varying degrees of risk levels. The program was so popular that nine Latin American countries and numerous European countries changed their Social Security system to privatization with individual accounts. This may or may not be the “fix” to the U.S. Social Security system, but we need some new and innovative ideas, and need to move on them now.

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  8. Jennifer Martinez

    I need help finding my 401k. I contacted the old employer and they have been out of business for over ten years and they dont remember who it was through. Can you help me track down where my 401k is??

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  10. Renie S Geller

    I am receiving an incorrect amount in my monthly direct deposit. I need a phone number to call and inquire. The phone number I’ve called is 800-772-1213. THIS NUMBER DOES NOT OFFER ME AN OPTION TO GET HELP. Please give me a phone number that will help me.

    Reply
    • Kenny Oguejiofor, Public Affairs Specialist

      Hello Renie. Sorry for any inconvenience. Due to security reasons, we do not maintain access to personal records via this blog and consequently cannot assist you in this matter at this time.
      You will need to speak to one of our agents. If you were unable to get assistance via our toll free: 1-800-772-1213, you will need to visit your local Social Security office for further assistance. Hope this help. Thanks!

      Reply

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