Social Security Providing $31 Billion to Illinoisans Each Month

September 2, 2014

 

(Undated)  --  A report highlights the ways that at the ripe old age of 79, Social Security is helping Illinois’ residents and the economy. While pensions have changed, jobs have been lost, and homes have lost equity, Eric Kingson with Social Security Works says the program is still strong. And he says it’s providing a check every month to more than two million Illinoisans.  The report also finds Social Security lifted more than 800 thousand Illinois residents out of poverty in 2012. Kingson says despite concerns about the program’s solvency, it is actually only facing a modest shortfall in the future. This year’s Social Security Trustees report projects that the program can pay all benefits in full for nearly two decades. And Kingson says after that, it could still pay 77 cents on every dollar of earned benefits.

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