Two legislators, one from each party, were named Legislators of the Year for their bipartisan work to save Social Security. Every month that goes by worsens the crisis in Social Security Trust Funds, which will be exhausted by 2033.
(PRUnderground) May 10th, 2023
Topretirements.com, the popular website focused on retirement, just named a Republican Senator and a Democratic Congressman as 2023 National Legislators of the Year. Senator Bill Cassidy (R.LA) and Representative John Larson (D. CT) were selected for the honor in recognition of their bi-partisan efforts to forge a solution for the impending Social Security crisis.
According to the Social Security 2023 Trustees Report, its reserves will become depleted by 2033, with continuing contributions sufficient to pay only 77 percent of scheduled benefits. As they do every year, the Trustees Report urged legislative action to avoid a funding shortfall that will eventually hurt every working American’s retirement security.
Representative Larson has developed the most specific bill seen so far to fix Social Security. Social Security 2100: A Sacred Trust, addresses 15 specific points to improve this popular benefit, and includes a strategy for shoring up its finances.
Senator Cassidy is co-leader of a Senate group that is trying to protect Social Security. A joint statement made earlier this year by that group said that they are considering dozens of ideas to protect Social Security and shoer up its finances. Some of those provisions include making up for past COLA adjustments with a modest benefit bump, repealing the Windfall Elimination Provision, and providing caregiver credits.
John Brady, founder of Topretirements.com, commented on the award. “We are very pleased to recognize Sen. Cassidy and Rep. Larson for their work on finding a bi-partisan solution to this issue. Every month that goes by makes it harder to fix the problem. We salute these legislators for not only recognizing this critical problem, but for actually doing something to advance a solution that is so needed by America’s retirees.”
Since 2007 Topretirements has helped millions of people find their best places to retire, with capsule reviews of 1,300 towns and over 6,000 active adult and 55+ communities. Its popular Blog has produced thousands of helpful articles on topics like when to take Social Security, best places to retire, and how to have a great retirement.
Original Press Release.