(Black Enterprise) – Social Security along with America Saves, the American Savings Education Council, and the Women’s Institute for a Secure Retirement recently launched the “Campaign for a Secure Retirement: Helping Millions of Americans Plan and Save for Retirement.” The campaign, which runs through July, aims to encourage retirement planning and saving as well as promote the online Social Security Statement, available through my Social Security.”
“An important part of setting a retirement income goal is understanding the role Social Security plays,” says Dallas Salisbury, President and CEO of the Employee Benefit Research Institute.
While the nation’s attention is on Social Security, we’d like to bring your attention to the fact that according to the Center for Retirement Research, Americans leave roughly $25 billion dollars in unclaimed Social Security benefits on the table each year. It’s not surprising. Hidden in the more than 2,700 rules that govern Social Security, are twists and turns that are difficult for even seasoned financial professionals to understand. This is something we simply can’t afford. According the AARP, about 50% of Americans depend on Social Security for at least half of their retirement income, making it one of our most important retirement assets.