Skip to main content
Accessibility  |  About  |  Contact  |  Privacy  |  Terms

Social Security Trust Fund Reserve Gains a Year for Projected Depletion Date

  • Published: 2015-07-22 : U.S. Department of Social Security (www.ssa.gov).
  • Synopsis: DI Trust Fund will become depleted in 2016 - Old-Age and Survivors Insurance, and Disability Insurance Trust Funds projected to become depleted in 2034.

Main Document

Quote: "While the projected depletion date of the combined OASDI trust funds gained a year, the Disability Insurance Trust Fund's projected depletion year remains 2016."

The Social Security Board of Trustees today released its annual report on the long-term financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2034, one year later than projected last year, with 79 percent of benefits payable at that time. The DI Trust Fund will become depleted in 2016, unchanged from last year's estimate, with 81 percent of benefits still payable.

In the 2015 Annual Report to Congress, the Trustees announced:

"While the projected depletion date of the combined OASDI trust funds gained a year, the Disability Insurance Trust Fund's projected depletion year remains 2016. I agree with President Obama, we have to keep Social Security strong, protecting its future solvency. President Obama's FY 2016 budget proposes to address this near-term Disability Insurance Trust Fund's reserve depletion. By reallocating a portion of payroll taxes from Old Age Survivors to the Disability Trust Fund - as has been done many times in the past - would have no adverse effect on the solvency of the overall Social Security program," said Carolyn W. Colvin, Acting Commissioner of Social Security.

"We believe that Congress must take action to reallocate a portion of the payroll tax rate between the trust funds to avoid deep and abrupt cuts or delays in benefits for individuals with disabilities who paid into the system while they worked and now need the benefits they earned to support themselves and their families," Colvin said.

Other highlights of the Trustees Report include:

The Board of Trustees comprises six members. Four serve by virtue of their positions with the federal government: Jacob J. Lew, Secretary of the Treasury and Managing Trustee; Carolyn W. Colvin, Acting Commissioner of Social Security; Sylvia M. Burwell, Secretary of Health and Human Services; and Thomas E. Perez, Secretary of Labor. The two public trustees are Charles P. Blahous, III and Robert D. Reischauer.

View the 2015 Trustees Report at www.socialsecurity.gov/OACT/TR/2015/

Similar Topics

1 : US-Born Workers Receive Disability Benefits More Often Than Workers From Abroad : University of Chicago Medical Center.
2 : 2018 COLA - 3rd Year With No Net Growth in Social Security Benefits : The Senior Citizens League.
3 : Social Security Announces 2% COLA Benefit Increase for 2018 : The United States Social Security Administration.
4 : Social Security Task Force Statement on H.R. 2792 : CCD Social Security Task Force.
5 : Social Security COLA Forecast For 2018 is 1.8 Percent : The Senior Citizens League.
From our U.S. Social Security section - Full List (168 Items)

Submit disability news, coming events, as well as assistive technology product news and reviews.


Loan Information for low income singles, families, seniors and disabled. Includes home, vehicle and personal loans.


Famous People with Disabilities - Well known people with disabilities and conditions who contributed to society.


List of awareness ribbon colors and their meaning. Also see our calendar of awareness dates.


Blood Pressure Chart - What should your blood pressure be, and information on blood group types/compatibility.





1 : Urine and Blood Tests Can Indicate Autism in Children
2 : Newborns Who Experience Stroke Regain Language Function in Opposite Side of Brain
3 : Cognition and Emotion Play a Role in Predicting Quality of Children's Friendships
4 : Metabolomics - Promising Tool for Advancing in Treatment Personalization of Oncological Patients

Citation


Disclaimer: This site does not employ and is not overseen by medical professionals. Content on Disabled World is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of a physician or other qualified health provider with any questions you may have regarding a medical condition. See our Terms of Service for more information.

Reporting Errors: Disabled World is an independent website, your assistance in reporting outdated or inaccurate information is appreciated. If you find an error please let us know.