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2016 Social Securities Trustees Report Released

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2016 Social Securities Trustees Report Released

July 1, 2016
On June 22, the Social Security Administration released the 2016 Old Age, Survivor and Disability Insurance (OASDI) Trustees report, titled "The 2016 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds". The report presents the current and projected financial status of the trust funds. The report notes that as it currently stands, the fund is solvent through 2034, and may continue to pay full benefits longer into the future with modest increases in revenue. Absent such increases, the system will face a long-term shortfall past 2034. 
 
The Social Security Task Force of the Consortium for Citizens with Disabilities (CCD), of which ANCOR is a member, has developed a fact sheet on the report highlighting the report's findings. The CCD statement discusses the importance of the fund for seniors and people with disabilities, and recommends that adequate funding be appropriated to ensure the fund's long-term solvency.