Statewide 80th birthday celebration for Social Security!

News Release — Vermont Alliance for Retired Americans
Aug. 11, 2015

Contact:
Mary Alice Bisbee
(802) 223-8140

MONTPELIER — The Vermont Alliance for Retired Americans (VT-ARA) joins Americans across the U.S.A in announcing a statewide birthday party on the Statehouse lawn in Montpelier on August 14th from 12:30 to 2:00 PM to celebrate 80 years of Social Security benefits!

A Vermonter, Ida May Fuller from Ludlow, received the very first monthly Social Security retirement check in the amount of $22.54 on January 31, 1940 at the age of 65. She was a legal secretary and only paid a total of $24.75 into the system prior to her retirement in 1939. When she died at age 100, she had received a total of $22,888.92. (Taken from the Social Security website, a brief history.)

While many critics have talked about the imminent demise of the Social Security system due to a dwindling trust fund and a huge increase in the number of elders due to retiring baby boomers, VT-ARA disputes these claims.  All it will take to maintain the fund for at least another century is to require upper income Americans to pay their fair share into the system. Scrap the Cap!

At present, no one pays anything into the Social Security Trust Fund on any earned or unearned income over $118,500. By scrapping this artificial cap on payments, the Social Security Administration will be able to continue to provide basic retirement, disability and family protections for years to come.

For more information about this event or joining VT-ARA,  contact President Jane Osgatharp at (802)229-0850[1] or check out the Social Security 80th Anniversary website.

References

  1. ^ (802)229-0850 (vtdigger.org)

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