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FOR IMMEDIATE RELEASE
Contact:
Camila Gallardo, NCLR
(305) 573-7329
Enrique Cortez, LSR
(202) 525-7411
“Latinos and Social Security ¡Tu Futuro Cuenta!” town hall forum was held in Miami
Miami, Fla.—A town hall forum held in Miami today brought together Latino seniors and community leaders who are concerned that the U.S. Congress may reduce the modest Social Security, Medicare, and Medicaid benefits that they rely on for most of their income and health care. Seniors who attended the forum hosted by NCLR (National Council of La Raza), AARP, and the Latinos for a Secure Retirement (LSR) coalition voiced their opposition to potential cuts and told representatives of these groups about how reduced benefits could affect them and their families.
As the nation anticipates the recommendations of a congressional super committee charged with negotiating a long-term solution for the federal budget, there is growing concern about the potential effects of cuts made to programs like Social Security that help keep millions of people out of poverty. The forum—which was held in Spanish and is part of the “Latinos and Social Security ¡Tu Futuro Cuenta!“ campaign—featured Miami Mayor Tomas Regalado and experts on these federal programs that provide some financial security to low-income seniors and others.
The speakers noted that older Hispanics are more likely than other seniors to access Medicare with the support of Medicaid, and may experience the worst of the repercussions from proposals to reduce the federal deficit by cutting these programs and Social Security benefits.
“The promise of a stable retirement that Social Security offers to millions of Americans and which is so critical to the Latin community, now and in the future, should never be threatened, especially to reduce the national deficit,” said Cristina Martin Firvida, Director of Financial Security and Consumer Affairs, AARP.
In Miami-Dade County, Social Security contributes more than $4.1 billion annually to the local economy by paying benefits to more than 371,000 residents, including 256,000 retirees, 42,935 disabled workers, and 25,570 children. Social Security serves more than 3.7 million residents of Florida and prevents 1,070,000 of them from living in poverty.
Latino seniors are particularly vulnerable to cuts and changes because Social Security benefits represent nearly all of their income. While Social Security’s progressive benefit formula favors low-wage workers, Hispanic seniors receive the lowest average benefits due to lower lifetime earnings. Average yearly benefits for Hispanic seniors are only $12,213 for men and just $9,536 for women.
“Social Security and Medicare benefits earned by Latinos are critical to those who cannot work because of age or disability,” stated Hector Sanchez, Executive Director of Latin American Labor Council and a leader of the Latinos for a Secure Retirement coalition. “Raising the Medicare eligibility age to 67 would cost Latinos more than $2.4 billion over the first year alone.” Earlier this week, Latinos for a Secure Retirement released a report detailing the harmful effects that this proposal would have on the Latino community.
The Social Security Administration (SSA) is severely underfunded, which has led to unacceptable delays in benefit claims for disabled Hispanics. This year, SSA closed several field offices, furloughed thousands of workers, and suspended the annual participant benefit statement. This is despite the fact that the program has not contributed one dime to the federal deficit and will remain financially solvent without any changes until 2037.
“Social Security will continue to be needed by future generations of workers who will be more diverse in terms of race and ethnicity,” said Leticia Miranda, Associate Director of NCLR’s Employment and Economic Policy Project. “We must take steps to ensure that this program is there for them as it has been for those who have needed it over the past 76 years.”
The Miami forum is the third in a series being held across the country as part of the “Latinos and Social Security, ¡Tu Futuro Cuenta!” campaign.
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For more information about NCLR, visit www.nclr.org or www.nclr.org/socialsecurity.
For more information about Latinos for Secure Retirement, visit www.latinosforasecureretirement.org.
For more information about AARP, visit www.aarp.org.