(Washington, DC) On Wednesday, June 17 at 2 p.m. the Senate Special Committee on Aging will hold a hearing on the topic of keeping the promise of Social Security in the 21st century. Joan Entmacher, Vice President for Family Economic Security at the National WomenÂs Law Center (NWLC), will testify at the hearing.
Social Security is the foundation of economic security in retirement for most Americans. For one in three beneficiaries age 65 and older Â and nearly half of single (widowed, divorced and never-married) women 65 and older Â Social Security provides nearly all (90%) of their income.
ÂStrengthening Social Security is the most effective way to increase retirement security for Americans in an environment of heightened economic risk,Â Entmacher stated. ÂThis is especially critical for women, who face a higher threat of poverty in old age than men.Â
There are multiple factors for womenÂs greater economic vulnerability in retirement. Women earn lower wages than men, and spend more time out of the labor force for care-giving. These factors combine to produce lower lifetime earnings and thus lower retirement income from pensions, savings, and Social Security. In addition, women generally live longer than men and spend more years in retirement without the support of a spouse.
Ms. EntmacherÂs testimony will discuss ways that Social Security can be improved, such as improving widow(er)Âs benefits, benefits for low lifetime earners and caregivers, and modernizing Supplemental Security Income. Her full testimony will be available following the hearing at www.nwlc.org.
WHAT: Briefing on Social Security: Keeping the Promise in the 21st Century
WHO: Senator Herb Kohl (D-WI), Chairman, Senate Special Committee on Aging
Senator Mel Martinez (R-FL), Ranking Member Senate Special Committee on Aging
Leon Burzynski, President, Wisconsin Alliance for Retired Americans, Pewaukee, WI
Kenneth Apfel, Professor of the Practice, School of Public Policy, University of Maryland, College Park, MD
Melissa Farveault, Senior Research Associate, Income and Benefits Policy Center, Urban Institute, Washington, DC
Joan Entmacher, Vice President for Family Economic Security, National WomenÂs Law Center, Washington, DC
John Irons, Research and Policy Director, Economic Policy Institute, Washington, DC
Andrew Biggs, Resident Scholar, AEI, Washington
WHEN: Wednesday, June 17, 2009
WHERE: Hart 216
The National Women's Law Center is a non-profit organization that has been working since 1972 to advance and protect women's legal rights. The Center focuses on major policy areas of importance to women and their families including economic security, education, employment and health, with special attention given to the concerns of low-income women. For more information on the Center, visit: www.nwlc.org.