Statement by NOW President Terry O’Neill
September 9, 2016
Washington, DC – Millions of seniors are facing a retirement income crisis–and it’s often women that are hit the hardest. The Strengthening Social Security Act of 2016 would offer a desperately-needed expansion of benefits to those most in need.
Women are especially vulnerable to financial insecurity during their retirement years. After a lifetime spent working for lower wages than men, often in jobs without pensions or retirement savings accounts, many rely on Social Security for support. For nearly thirty percent of female beneficiaries over the age of 65, social security is virtually their only source of income.
The Strengthening Social Security Act of 2016 would expand the resources available to these individuals. Increasing monthly insurance benefits for widows and widowers, and adjusting the means for calculating seniors’ cost-of-living requirements, will have a measurable impact on women’s lives.
NOW thanks Representatives Linda Sánchez and Mike Honda for championing this critical issue, and calls for the swift passage of this bill.
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