For All active members in SSN thread - Social Security trust fund to run out of cash by 2034

[Hitman]

1. Social Security is still expected to run out of money in 2034

Last year, the Trustees Report expected the theoretical combined Trust Fund balances to run out in 2034, and that's the same projection that this year's report made. Technically, there are two separate funds, one to hold disability insurance reserves and the other to hold the money that gets paid out as old age and survivors benefits. The prospects for those two funds went in different directions over the past year. For the disability fund, projections last year had indicated that its assets would run out by 2028, but favorable experience in disability applications and benefit awards allowed that portion of the program to extend its depletion date four years into the future, to 2032. In contrast, the old age and survivor insurance fund saw its expected date of running out of money pulled forward a year, to 2034.

In the past, lawmakers have taken steps to even out the two trust funds when they've threatened to get out of balance. In particular, a shift in the way that payroll tax revenue gets allocatedbetween disability and old age benefits in late 2015 helped prevent an immediate depletion of disability trust fund assets. Similar moves should ensure that both trust funds run out of money at roughly the same time, but they can't by themselves solve the potential problem.

2. Retirees can expect a smaller decline in benefits after 2034

It's a common myth that once the Social Security Trust Funds run out of money, Social Security benefits will cease entirely. That's not the case, because the program will still be able to receive revenue from payroll taxes and income taxes on benefits. However, based on current projections, that money won't be enough to cover the program's costs, in part because as trust fund balances decline, the amount of interest that the investments the trust funds hold will fall as well.

Last year, the Social Security Trustees believed that the program would be able to provide just 77% of benefit payments overall following the depletion of the trust funds. That was composed of 93% of disability fund benefits and 75% of old age and survivors benefits. The 2018 report saw some improvements on these lines, with the overall figure improving to suggest Social Security will be able to pay 79% of combined scheduled benefits. The corresponding percentages for the two individual funds are 96% for disability fund benefits and 77% for old age and survivors benefits. Every little bit helps, but a cut of more than 20% for most retirees would be devastating for many, given the financial challenges older Americans already face.

 

 

https://www.benefitspro.com/2018/06/05/social-security-trust-fund-to-run-out-of-cash-by-2/?slreturn=20190011164937

[Spartan]

idi a thread lo ne disco aindi kada...

SSN is running out of money ani..

@mettastar

[k2s]

4 minutes ago, Hitman said:

1. Social Security is still expected to run out of money in 2034

Last year, the Trustees Report expected the theoretical combined Trust Fund balances to run out in 2034, and that's the same projection that this year's report made. Technically, there are two separate funds, one to hold disability insurance reserves and the other to hold the money that gets paid out as old age and survivors benefits. The prospects for those two funds went in different directions over the past year. For the disability fund, projections last year had indicated that its assets would run out by 2028, but favorable experience in disability applications and benefit awards allowed that portion of the program to extend its depletion date four years into the future, to 2032. In contrast, the old age and survivor insurance fund saw its expected date of running out of money pulled forward a year, to 2034.

In the past, lawmakers have taken steps to even out the two trust funds when they've threatened to get out of balance. In particular, a shift in the way that payroll tax revenue gets allocatedbetween disability and old age benefits in late 2015 helped prevent an immediate depletion of disability trust fund assets. Similar moves should ensure that both trust funds run out of money at roughly the same time, but they can't by themselves solve the potential problem.

2. Retirees can expect a smaller decline in benefits after 2034

It's a common myth that once the Social Security Trust Funds run out of money, Social Security benefits will cease entirely. That's not the case, because the program will still be able to receive revenue from payroll taxes and income taxes on benefits. However, based on current projections, that money won't be enough to cover the program's costs, in part because as trust fund balances decline, the amount of interest that the investments the trust funds hold will fall as well.

Last year, the Social Security Trustees believed that the program would be able to provide just 77% of benefit payments overall following the depletion of the trust funds. That was composed of 93% of disability fund benefits and 75% of old age and survivors benefits. The 2018 report saw some improvements on these lines, with the overall figure improving to suggest Social Security will be able to pay 79% of combined scheduled benefits. The corresponding percentages for the two individual funds are 96% for disability fund benefits and 77% for old age and survivors benefits. Every little bit helps, but a cut of more than 20% for most retirees would be devastating for many, given the financial challenges older Americans already face.

 

 

https://www.benefitspro.com/2018/06/05/social-security-trust-fund-to-run-out-of-cash-by-2/?slreturn=20190011164937

matter brief it no pls... 

 

[Spartan]

1 minute ago, k2s said:

matter brief it no pls... 

 

SSn dabbul levu ivvanike..ippudu unna musalollu dobbi mingestunnaru ...

[Hitman]

Just now, k2s said:

matter brief it no pls... 

 

2034 కి ఇప్పటికి ఉన్న reserve fund అన్ని అయిపోతాయి .. ఆ తర్వాత retire అయ్యే వాళ్ళకి  ఎలా ఇవ్వాలో అర్ధం కావడం లేదు .. 

[k2s]

1 minute ago, Spartan said:

SSn dabbul levu ivvanike..ippudu unna musalollu dobbi mingestunnaru ...

antey mari maa paisal enduku cutting anta ? 

[TensionNahiLeneka]

1 minute ago, Spartan said:

SSn dabbul levu ivvanike..ippudu unna musalollu dobbi mingestunnaru ...

mari mana position endi anna?

 

[k2s]

Just now, Hitman said:

2034 కి ఇప్పటికి ఉన్న reserve fund అన్ని అయిపోతాయి .. ఆ తర్వాత retire అయ్యే వాళ్ళకి  ఎలా ఇవ్వాలో అర్ధం కావడం లేదు .. 

ayitey introduce an option not to contribute to SSN 

[Spartan]

Just now, k2s said:

antey mari maa paisal enduku cutting anta ? 

vallaki ivvadaniki...

manam musalollainappudu..appudu young ga unna vallu kadite vastadi...

[Spartan]

Just now, k2s said:

ayitey introduce an option not to contribute to SSN 

u need to be citizen of one of the tax treaty countries...there are 26...and India is not in it.

[Amrita]

Pidapoyindi. Godavane ledu. 

[BeerBob123]

cool

[BeerBob123]

baagaindi

[JollyBoy]

single post lo telechesav, thanks bhayya

[Hitman]

Just now, Spartan said:

vallaki ivvadaniki...

manam musalollainappudu..appudu young ga unna vallu kadite vastadi...

ముసలి వాళ్ళు ఎక్కువ అవుతున్నారు .. 3 members contribution కావాలి 1 ముసలి వాని monthly payment కి ..అది problem