On Wednesday, August 14, 1935, Franklin D. Roosevelt signed the Social Security Act into law, the inception of the program 96% of Americans rely on today as a staple of their retirements.
This week Dave brings on Nancy Altman, President of Social Security Works and a woman who has worked with Social Security reform and laws since 1978. Nancy brings her hands on experience within the program from Capitol Hill to talk with Dave about the history of the program and the solutions that can help make the program last.
During this week’s episode you will learn:
- The history of the Social Security program
- How FDR’s intents of the program compare to today’s benefits
- How Social Security is an insurance versus just a government program
- What shortfalls the program has seen historically and the solutions implemented
- The concerns of the program today and possible long-term solutions
Visit www.socialsecurityworks.org for more insight and information on the organization and their services.
To learn more about Social Security, the other financials risks you will face in retirement, and how to get safely through retirement, visit www.retirementriskadvisors.com.
About Our Guest:
Nancy J. Altman has a forty-five year background in the areas of Social Security and private pensions. She is president of Social Security Works and chair of the Strengthen Social Security coalition.
Democratic House Leader Nancy Pelosi appointed Ms. Altman to a six-year term, starting October 1, 2017, on the Social Security Advisory Board. The seven-person Board is a bipartisan, independent federal government agency established in 1994 to advise the President, Congress, and the Commissioner of Social Security.
Ms. Altman is the author of The Battle for Social Security: From FDR’s Vision to Bush’s Gamble (John Wiley & Sons, 2005) and The Truth About Social Security: The Founders’ Words Refute Revisionist History, Zombie Lies, and Common Misunderstandings (Strong Arm Press, 2018). She is also co-author of Social Security Works! Why Social Security Isn’t Going Broke and How Expanding It Will Help Us All (The New Press, 2015). She has shared her Social Security expertise on numerous television and radio shows, including PBS NewsHour, MSNBC, and FOX News. She has published op-eds in dozens of newspapers including the New York Times, Wall Street Journal and USA Today.
From 1983 to 1989, Ms. Altman was on the faculty of Harvard University’s Kennedy School of Government and taught courses on private pensions and Social Security at the Harvard Law School. In 1982, she was Alan Greenspan’s assistant in his position as chairman of the bipartisan commission that developed the 1983 Social Security amendments.
From 1977 to 1981, she was a legislative assistant to Senator John C. Danforth (R-Mo) and advised the Senator with respect to Social Security issues. From 1974 to 1977, she was a tax lawyer with Covington & Burling, where she handled a variety of private pension matters.