About Eleanor’s Hope
The retirement challenges facing millions of American women simply can’t be ignored. On average, women live longer than men yet their lifetime earnings are generally lower. Pay inequity while they’re working and often reduced benefits once they retire means millions of women face retirement and health insecurity in their old age.
The National Committee’s “Eleanor’s Hope” initiative, named in honor of First Lady Eleanor Roosevelt, will raise awareness, recruit and train new activists and bolster Congressional leaders who are making a difference on women’s health and retirement security issues. We’ll advocate for legislation that addresses the inequities threatening millions of retired women and work to elect lawmakers who share our vision of retirement equity for women.
Americans today are increasingly concerned that they will not have saved enough money to provide for a reasonable standard of living in retirement. When people were asked in a recent survey which they fear most – death or outliving their money in retirement – nearly two-thirds chose running out of money.[i] Only 17 percent of American workers say they are “very” confident in their ability to live comfortably throughout retirement, and another 47 percent are “somewhat” confident in their ability to retire comfortably. Continue brief
Women to Watch
“Social Security and Medicare make a real difference in the lives of working Americans and it is a top priority of mine to protect these programs.I am willing to consider raising the cap on earnings subject to the payroll tax above $110,100 as a way to strengthen Social Security. I would also take steps to make sure that the Social Security Trust Fund is repaid in full for the funds it has loaned during decades of surpluses. I oppose privatizing Medicare by turning it into a voucher system – doing so would end Medicare as we know it and diminish its protections and benefits.”
Senator Collins has consistently supported programs to expand access to health care and improve health care, particularly for citizens living rural areas. She led the fight to restore critical funding to Medicare for home health care so that elderly and disabled residents can receive needed care in their homes.
Q. My husband and I both worked full time for many years and individually will qualify for close to a maximum benefit. Will we each be able to do that, or is there a maximum payment to married persons that is less than the total they would receive if they were not married?
A. There is no maximum benefit for a married couple when both have participated in the workforce. In the situation you describe, each of you will receive his or her own benefit. In survivorship cases, the survivor receives whichever of their two benefits is the greater.