Your Retirement Is At Risk In This Election

For SMART-TD union bus operators, and railroaders nationwide, threats to Social Security loom large

In a recent Washington Post article, it was reported that the Committee for a Responsible Federal Budget, a nonpartisan group aimed at opposing the federal deficit, stated that “A new report projects that the Social Security Trust Fund might run out of money within six years under a Donald Trump presidency.” This alarming projection raises significant concerns for all members of our union (especially members of our bus department) as well as retirees nationwide, who rely on Social Security to support their retirement.

Rail members and retirees who benefit from a defined pension provided by the Railroad Retirement Board are quick to point out that our RRB pensions are completely separate from the Social Security system that the majority of Americans pay into. That is not as true as we would like to think. It is true that the RRB trust fund and the Social Security trust fund are two separate pots of money. Also, it is a fact that the RRB trust fund is in better shape than its counterpart at SS; however, Social Security is still the national standard, and when they change policies, RRB tends to follow suit. If and when SS runs out of money and begins reducing the percentage they are paying out, it is distinctly possible RRB will mirror that policy change as it relates to how they manage Tier I retirement payments. So when Social Security payments get reduced, railroaders could very well feel the squeeze right along with every other American retiree.  

If Social Security dries up in this country, it will not be a bus member issue or a rail member issue; it will be a SMART-TD issue.

Social Security’s solvency directly affects bus and transit operators and retirees nationwide. Most Americans depend on Social Security, which they have faithfully contributed to throughout their careers. They’ve paid their fair share into a system designed to provide them with financial stability throughout retirement. It is unacceptable that after a lifetime of labor, they may face an uncertain future due to reckless fiscal policies.

The Washington Post article highlights a stark reality: “Compared to prior presidential campaigns, I can’t think of anything that would be this order of magnitude in its detrimental effect on Social Security’s bottom line compared to the policies Trump has proposed,” Marc Goldwein, senior policy director for Committee for a Responsible Federal Budget, told the newspaper. These proposals, which include massive tax cuts for business owners and corporate bailouts, threaten to deplete the very retirements our members have diligently built.

As the report outlines, the potential consequences are severe: “All added up, the report forecasts that Social Security under Trump would hit the point where by law it must cut benefits in 2031 or 2032,” leading to a “reduction for all Social Security checks to a predicted cut of about 33 percent.”

For the workers and retirees dependent on Social Security, this translates to a significant and devastating reduction in the retirement income they expect and deserve after years of dedication and service to the public and to this union.

SMART-TD is not in the business of accepting agreements from transit agencies or railroad companies that give our members a 33% pay cut. It is unacceptable for our active members, and it is unacceptable to accept this for the nation’s retirees!

This situation represents a shocking abuse of the American worker, particularly for our SMART-TD brothers and sisters. The threat to Social Security is not just an economic issue. For SMART-TD, it is a moral one. Our members deserve what they have worked for, and it is our responsibility to stand against the policies of any employer, and in this case, any presidential candidate, that jeopardizes that security.

As we move forward as a union, we must remain vigilant in advocating for the protection and enhancement of Social Security. It is crucial that we amplify our voices and demand that the rights of all workers are upheld. The future of our retirement security is at stake, and together, we can fight to ensure that our hard-earned benefits are preserved for generations to come.