G&G Weekly Update
Social Security Trustees Note Solvency through 2052
The Board of Trustees of the Social Security Administration (SSA) recently released its annual report on the state of the Social Security Trust Fund. According to this year’s report, the system can now pay full benefits through 2052, 20 years later than last year’s report. This is due to the Trustees estimating that fewer people will be approved for disability benefits. The new date is also due to declining application rates and declining numbers of SSDI beneficiaries in payment status. Starting in 2053, assuming no change is made, the disability trust fund will still be able to pay 96% of promised benefits.