Breaking Down the Social Security Lock-Box Act

Social Security Lock-Box Act

During retirement, seniors should be able to enjoy their hard-earned retirement benefits. However, there are threats to Social Security that could keep retirees from receiving what they have earned. Without protection for the Social Security Trust Fund and more oversight of what happens with these funds, seniors could see their benefits spent by unscrupulous politicians. The Social Security Lock-Box Act could change this.

What Is the Social Security Lock-Box Act?

This piece of legislation would serve to protect the funds available to Social Security. Currently, those funds can be used by the U.S. government and replaced by obligations – IOUs. While it’s possible for the funds to earn interest while held in this way, this can make the program susceptible to insolvency. The Social Security Lock-Box Act would place this money into a secure account. There, it would only be accessible for the purpose of funding Social Security.

Seniors shouldn’t have to worry about whether they will receive their Social Security benefits. However, without the Social Security Lock-Box Act, Congress can keep taking from the trust fund with impunity. Legislation is needed to keep these funds separate and safe.

How You Can Take Action Today

Americans around the country can step up today to make their voices heard on this important issue. You can tell your friends and family about the importance of this legislation or reaching out to your representatives—there are a number of steps you can take.

First, sign The Seniors Center’s petition calling on Congress to pass the Social Security Lock-Box Act. We’ll then send your signature directly to Washington as we let our nation’s lawmakers know just how important this issue is to hard-working seniors. Then, you can follow The Seniors Center on Twitter and Facebook.

It’s time for Washington politicians to stop the raid on Social Security. Take action today if you agree!