August, 2014: Social Security Awareness Month

WHEREAS, Michigan's Senior population is growing at a rate of approximately 118 people per day and by 2020, older Michiganians will comprise 22% of Michigan's population.

WHEREAS, part of Michiganians taking charge of their well-being is making sure that their financial house is in order.

WHEREAS, awareness of current Social Security rules, regulations, current and future benefits, as well as planning to supplement Social Security income is critical to maintain the standard of living and provide assets to cover medical care and emergency medical issues for thousands of Michiganians.

WHEREAS, the topic of Social Security benefits and planning for retirement is important to individuals of all ages, especially as we try to regain our economic and financial footing after the recent recession.

WHEREAS, the recession continues to have an effect on people and their personal wealth and many would say that the recession and the overall state of the economy have forced many to take a serious look at their financial situation with regard to retirement plans because they simply don’t have enough money to quit working and maintain a lifestyle to which they have become accustomed.

WHEREAS, unlike previous generations, we will not have the luxury of relying on Social Security benefits as a major source of funds during retirement and many people are living longer after they retire due to medical and technological advances and will continue to collect Social Security for longer periods of time.

WHEREAS, despite people saving money as a supplement to Social Security retirement benefits, the turbulent financial markets of the last decade have reduced people’s overall retirement nest eggs significantly.

WHEREAS, most Michiganians are not aware of how credit accumulation for Social Security works, how to apply for Social Security, and most importantly, when to apply to maximize the benefits that they may receive and proper education on the topic may make a drastic difference in the number of Michiganians who are reliant on State aide to supplement their income.

NOW, THEREFORE, I, Rick Snyder, governor of Michigan do hereby proclaim August 2014 as Social Security Awareness Month in Michigan.