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Politicians hindering efforts to support Social Security hadbetter hope they never get cornered by those who rely on thosechecks for their only income—because that amounts to 40.2 percentof seniors.
So says a report from the National Institute on RetirementSecurity, "Examining the Nest Egg: The Sources of Retirement Incomefor Older America," which points out that although in 2013 pensionsdid keep nearly a million retirees out of poverty while cutting thecost of public assistance by $4 billion, Social Security did farmore—it kept more than 7.5 million households out of poverty andcut public assistance costs by $10 billion the same year.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
