"Holt, a plasma physicist turned politician, provided an out-of-town preview of the type of opposition Democrats are preparing to mount against Bush's plan for restructuring the Social Security system...He warned about the long-term costs and potential debate resulting from Bush's idea, saying it could be "not just spending the kids' inheritance, but putting them into debt."
The Washington Post, February 14, 2005
Holt was endorsed in 2008 by Alliance for Retired Americans, which wrote that his "positions demonstrate a strong commitment to improve the quality of life for older Americans."
New Jerseyans continue to feel the painful impact of the economy. For retirees, paying for necessities on a fixed income is especially difficult. Many people below retirement age are out of work, or have been forced to take lower-paying jobs.
Financially-strapped seniors feel the brunt of that, too, from losing out on part-time employment income that can help defray the high cost of prescription drugs, to losing critical support from struggling family members and friends.
When you spend your life working hard and providing for your family, you ought to be able to retire with financial security. Unfortunately, for too many New Jerseyans, stock market fluctuations and corporate scandals have hurt their retirement savings and delayed retirements, in some cases by years. That's why Rush Holt believes we need to protect pensions, strengthen Social Security, and increase incentives for retirement savings. Rush Holt has been a leader on these issues in Washington.
*Rep. Holt believes that the guaranteed benefit of Social Security is more important than ever. He is dedicated to strengthening Social Security’s long-term finances so that it continues to provide a reliable, guaranteed base of retirement, disability and survivor’s income. He has opposed and will continue efforts to privatize Social Security. He strongly supports a fairer cost-of-living adjustment calculation for Social Security in order to keep pace with the actual increases in the true cost of living. He has also worked to bridge the gap between payments to government employees and workers in the private sector.
*As a member of the Education and Labor Committee, Rep. Holt has worked to ensure that employees' pensions are secure after they retire.
*Understanding the 401(k) plans are central to the retirement savings system, he has supported legislation to ensure that American workers have clear and complete information about fees that could cut into their savings.
*Rush Holt also supports providing investors with market advice, providing full disclosure of fees and potential conflicts of interest.
In addition to his legislative work, Holt has helped scores of constituents cut through red tape to receive the social security benefits they've earned.The following are examples of Rush acting on behalf of local residents who contacted him after experiencing frustration with mountains of bureaucratic red tape concerning their retirement benefits:
One woman from Branchburg received $50,000 retroactively in disability benefits that she was owed after Rush presented a case on her behalf.
One man from East Brunswick, another from Plainsboro, and a woman from Ocean Township each rightfully received $20,000 in benefits after the necessary information was provided to agency staff by Rush.
After receiving clear documentation from Rush, the Social Security Administration stopped demanding return of $25,000 from a Monroe woman who the agency had incorrectly claimed had been overpaid.
After a resident of Freehold called Rush because Medicare and Social Security refused to cover medical costs for the last six months of his late wife's life, Rush's staff provided both agencies with appropriate documentation. Once the information was properly submitted, the constituent's expenses were paid.
One constituent who wrote Rush had this to say:
"I am writing to express my sincere gratitude for your assistance in obtaining Medicare benefits for me. Effective and persistent intervention from your office cleared up months of confusion caused by the Social Security Administration."