Economy Affecting Social Security

Forty percent of Mississippi retirees rely on social security as their sole source of income.

One in five people in Mississippi receives social security – that’s almost 600,000 people. And as the recession deepens, that number could grow. MPB’s Cari Gervin has more.

Laura Feldman works for the National Committee to Preserve Social Security and Medicare. She has an infectious enthusiasm about her job, even though she’s old enough to receive social security benefits herself.

Speaking at the University of Mississippi on Wednesday, Feldman said the problem in Mississippi is that a large percentage of seniors live in rural areas without access to supplemental income.

“Many people live just on their social security and Medicare. It wasn’t meant to be that way – it was supposed to be only a part – but it does keep them above the poverty line, out of welfare roles, and puts food on the table and gives back to the community. Because seniors aren’t saving for being old – they’re – we’re – there!”

In fact, 40 percent of Mississippi retirees rely solely on those benefits as their only source of income.

Usheryll McGuirt is a claims representative with the Social Security Administration in Tupelo. She says she’s seen an increase in the number of people filing for social security as the drop in the stock market has affected people’s retirement incomes.

“There’s also been a rise in the number of people that are filing for disability now that a lot of the factories are gone, and they’ve had conditions that they’ve had to keep working. Now that they don’t have the work, they’ve come in to file for their benefits.”

Almost half of the people in the state who receive social security are not retirees. Families of deceased and retired workers are eligible for the funds, as are people prevented from working due to a disability.

For MPB News, I’m Cari Gervin in Oxford.