On Aug. 14,1935, President Franklin D. Roosevelt signed the Social Security Act into lawstating, “…we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age.”  Social Security created a system of earned retirement income for American workers to avoid the dire poverty experienced during the Great Depression. 

I remember getting my first real paycheck and seeing the Social Security deduction. My father explained that paying into Social Security now creates an income benefit paid to us later. Being 17, later seemed a long way away. Like me, Social Security has seen a few changes over the years. Social Security has changed from just supporting retired employees to also providing benefits to eligible spouses, children, people with disabilities and their families.  

According to AARP, over 69 million Americans are receiving some type of Social Security. In Maine, 95% of people over age 65 receive Social Security benefits and rely on them to pay their everyday bills. Social Security benefits are not gifts; they are our own hard-earned money being paid back to us. 

Full retirement age for Social Security depends on your age. For people born before 1958 the age is 65. For those youngsters born between 1958 and 1960, full retirement age is between 66 and 67. AARP and Social Security websites have information about Social Security eligibility. Anyone can create an account at mysocialsecurity.gov to monitor their Social Security benefits.

Part of our Social Security benefit is taxed based on our overall income. However, the newest federal budget bill allows eligible seniors over 65 who earn less than $75,000 ($150,000 for joint filers) to deduct $6,000 per individual ($12,000/couple) from their overall taxable income. This tax deduction could reduce overall taxes for many older Americans. A qualified tax preparer can explain how this deduction impacts individual taxpayers.  

Social Security is a promise between workers and our government; employees pay into Social Security during their working years and receive an income based upon their earnings after retirement. For 90 years, Social Security has kept that promise providing a crucial income source for retirees. AARP is committed to making sure our government keeps that promise whatever changes the next decades may bring. Happy Birthday to Social Security!  

As always, check out the AARP Maine website for an AARP event near you. I hope to see you there!  

Joyce Bucciantini is a retired middle school educator. She currently coordinates Delta Kappa Gamma’s Read to Me program, is a tutor with Literacy Volunteers-Androscoggin, and is an active AARP Maine volunteer. She enjoys her gardens, being outdoors and traveling.