Celebrating 90 Years of Social Security: A Sacred Promise

As we mark the 90th anniversary of Social Security this year, it’s a good time to reflect on its profound impact on American society since its creation in 1935. Signed into law during the Great Depression, Social Security emerged as a foundation of hope and stability for millions of Americans facing economic uncertainty. Today, over 65 million Americans receive the money they've earned over a lifetime of hard work —253,000 Montanans receive Social Security.

In Montana, we're celebrating Social Security's 90th anniversary with special events throughout the spring and summer. Stay tuned to this page as we add events!

Social Security Webinar: April 16, 2025
Do you have questions about Social Security? Join us for a free webinar!
AARP knows that you work hard for your money and have paid into Social Security for most of your life, so it's only fair for you to expect to get the money you've earned. We also all know Social Security can be confusing, especially at this time, so we’re hosting AARP’s top Social Security expert, Tom Nicholls, to answer your questions.

• Wednesday, April 16, 2025. Register here >>

A Pillar of Economic Security

Social Security was born out of a commitment to provide a measure of income security for citizens who, through no fault of their own, found themselves without income as they aged or fell on hard times. The original idea was simple, yet groundbreaking: workers contribute a portion of their earnings during their working years, and in return, they receive guaranteed income upon retirement.

This system has not only endured, but grown over the decades. What started as strictly a retirement program now includes disability benefits and survivor benefits for families of deceased workers. The program now also has automatic cost-of-living adjustments to help millions of older Americans keep pace with inflation. These changes have ensured that Social Security meets the evolving needs of American society.

Impact on American Lives

The impact of Social Security cannot be overstated. For millions of retirees, it provides reliable income that allows them to live with dignity and independence as they age.

Social Security plays a pivotal role in promoting economic stability for individuals and communities by providing a steady stream of income to retirees, who spend it on the necessities of daily life, contributing $1.4 trillion a year to the US economy. These payments inject more than $4 billion into the Montana's economy every year. Additionally, it reduces poverty among vulnerable populations and lessens the burden on other government programs.

It also serves as a foundation for retirement planning, allowing individuals to supplement their private savings and investments with their Social Security, thus bolstering their personal financial security.

Challenges and the Future

Social Security is paid for by dedicated payroll taxes and the interest on those contributions that have built up in the Security Trust Funds. Before 2021, Social Security collected more in taxes and interest than it paid out, so it built up reserves to support the retirement of the “Baby Boomer” generation. Today, those reserves are used to supplement incoming payroll tax income, but the Trust Funds will face a shortfall in 2035, according to current estimates.

The shortfall is primarily caused by lower birth rates (meaning fewer workers paying in) and a growing population of retirees. By 2035, Social Security is still projected to be able to pay 80% of benefits, but a cut of 20%—an average of over $4,000 a year—would hurt both individuals and communities.

Before the Trust Funds run out of money, Congress can decide to cover the shortfall by raising taxes, cutting benefits or coming up with additional funding sources.

Looking Ahead

As we celebrate the 90th anniversary of Social Security this year, it’s important to recognize its enduring value and the profound impact it has had on American society. Through decades of economic upheaval and social change, Social Security has remained a steadfast source of income for millions of Americans, representing our nation’s commitment to ensuring economic security.

Looking ahead, it is incumbent upon us to protect and save Social Security for both current and future generations. This will require thoughtful policies that preserve its core principles of fairness and sustainability while addressing the challenges of a rapidly changing world. By doing so, we can ensure that Social Security continues to fulfill its promise of providing an earned and guaranteed source of income for all Americans.

Let us reaffirm our commitment to Social Security’s mission and recognize the profound impact it has had on the lives of countless individuals and families across the United States. Happy 90th anniversary, Social Security – may you continue to serve as a beacon of stability and security for generations to come.

For the latest news, expert advice and answers to the most frequently asked questions, visit the AARP Social Security Resource Center.

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