About 800,000 Oklahomans depend on Social Security — and they’re wondering how proposed Security Social cuts could impact their retirement.
“Oklahomans want to hear and make sure that Social Security is protected and saved, not only for them, but their children, grandchildren,” Sean Voskuhl, AARP Oklahoma state director, told Oklahoma’s News 4. “More than 22% of Oklahomans rely on Social Security as their primary source of retirement income.”
Now under Trump-appointed leadership, the Social Security Administration (SSA) is eliminating 7,000 jobs, significantly reducing its workforce, while closing several SSA offices across the country.
And that leaves Oklahomans with questions.
“Is Social Security going to be fully funded? Are people going to get their payments on time? And will there be people at the Social Security Administration offices to answer questions if people have them?” said Voskuhl.
This comes at a time when a record number of baby boomers are reaching retirement age — a phenomenon referred to as Peak 65. And 2025 is the “peak” of Peak 65, with a record 4.18 million Americans reaching the traditional retirement age of 65, according to a research report by the Alliance for Lifetime Income’s Retirement Income Institute.
“Unlike older retired baby boomers, the majority of Peak 65’ers don’t have pensions, which used to help fill that gap left by Social Security,” according to the report’s author, Jason Fichtner, executive director of the institute and a former chief economist at the SSA.
That means cuts to the Social Security workforce are coming at a time when demand for its services are at an all-time high. Former Social Security Commissioner Martin O’Malley told CNBC.com that recent actions by Elon Musk’s Department of Government Efficiency (DOGE) are putting the benefit checks of more than 72.5 million Americans at risk.
“Ultimately, you’re going to see the system collapse and an interruption of benefits,” O’Malley said. “I believe you will see that within the next 30 to 90 days.”
Delays could be disastrous for many Americans. In one study, 42% of Americans aged 65-plus said they wouldn’t be able to afford basic necessities like food without their monthly check. For Americans about to retire, staffing cuts and office closures could lead to delays in processing their claims.