Social Security 2017 Trustees Report

man sitting at desk on laptop Today, the 2017 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds was released.  To learn more, please visit http://ow.ly/crq630dC1i8. 

Join us on Facebook Live on 7/17 at 7 P.M. ET as we chat with Social Security’s Chief Actuary Steve Goss.

Note: The closed captioned version will be available within 24 – 48 hours of the broadcast.

 

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61 thoughts on “Social Security 2017 Trustees Report

  1. The article is very good news and th SSA should be commended for their good work. BUT, please when are you going to see that senior older adults get an increase in their cost of living. We did not have retirement plans from employers when we were working. Our income is solely on social security payments. I suppose you all have noticed the cost of items these days.!

    • my sociak security monthly payment is under the expected; therefore i am still working; and still paying into the system. once i quit working for good will my social security increase.the cost of living has gone over the top.

      • Each year we review the records for all working Social Security recipients. If your earnings for the prior year are higher than one of the years we used to compute your retirement benefit, we will recalculate your benefit amount. We pay the increase retroactive to January the year after you earned the money. Visit our Retirement Planner: Getting Benefits While Working for more information.

        • 8 months ago i applied for my survivors benefits. It took 4 months for that to get approved. I still have not recieved my backpay. That is ridiculous. 8 months wirking on 9. Can someone find out what they been doing?

          • We apologize for the delay and inconveniences you are experiencing, Paula. Unfortunately, but for security reasons, we do not have access to personal records in this blog. Please continue working with your local office. You can request to speak with the manager to see how we can help to expedite resolution of your situation. If you are unable to visit the local office, you can call our toll free number at 1-800-772-1213, representatives are available Monday through Friday between 7 a.m. and 7 p.m. Generally, you will have a shorter wait time if you call later in the week. Thanks.

    • Hi Frances, if you’re referring to the Cost-of-Living Adjustment (COLA) for 2018, we will know that information in late October, when the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics is announced. As always, we will keep you informed.

      • “As always” some bogus set of “cost of living” items will be used to determine if SS recipients need a raise. If a raise is given it wI’ll be absorbed by the increase in Medicare’s premium. Meanwhile my cost of food, gas and utilities continues to increase exponentially. De

    • CPI-W
      2016 Q3 235.057
      2017 Q1 237.329
      2017 Q2 will be released tomorrow (Friday)
      2017 Q3 will determine the SS 2018 cost-of-living increase

      • the preliminary estimate is for a roughly 2% increase in 2018. It will be partially offset by an increase in the cost of Medicare plus an increase in the cost of Medicare supplemental (i.e. Medicare Advantage)

    • Hello Mr. West, if you’re referring to the Cost-of-Living Adjustment (COLA) for 2018, we will know that information in late October, when the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics is announced. As always, we will keep you informed.

        • How can they even call it a cost of living increase? Less money every year. If you account for the cost increase for medical and decrease in food stamp eligibility, you’re in the red more each year. What cost of living increase? We can still add. Who is the Gov. trying to kid? A total of LESS IS STILL LESS.

  2. I hope finally my dreams will come true on August1,2017.
    And CONGRATULATIONS ms or Mrs Commissioner
    For 2018
    Good Luck….!!!

    • ObamaCare is a total farce and even the Democrats admit it is a failure! The Democrats are yelling about what the Republicans are going to pass, but when the Democrats passed ObamaCare no one voting including the Democrats who passed it read even 10% let along let the Republicans input their concerns and now they are madd saying they are not getting their inputs heard!

  3. The Status of Social Security
    Old-Age/Survivors (OASI), Disability (DI)
    ……………………….OASI………DI……. (trillions)
    Assets (2015)…..$2.7803…$0.0323
    Income (2016)….$0.7975…$0.1600
    Outgo (2016)……$0.7764…$0.1459
    Net Increase…….$0.0211…$0.0141
    Assets (2016)…..$2.8013…$0.0463

  4. SOCIAL SECURITY INCOME/BENEFITS SHOULD BE RAISED SO POOR PEOPLE AND SENIOR CITIZENS WILL BE ABLE TO AFFORD LIVES.

    • right on,,,,,,[,but will never happen,},us seniors just keep trying to survive,,with the no increases or paulty one percent increases ,,its so unfair the way cola leaves out FOOD & MEDICAL EXPENSES

  5. Older people on SS are in bad need of a raise in their SS checks. It should not be reduced in any way. Because the raise is a % on what you get…….look how much we have lost over the years because of no increase.

    • The why don’t you go to a different site? One that discusses medical welfare payments, SS has nothing to do with that.

  6. In just my opinion, everyone past, present or future, should know what Social Security can and will do for them when the time comes to collect. It is not a living wage and never was set up to be. When you are working the amount you put in is far less than what you eventually get out if you live long enough to collect on it. The Affordable Care Act is meant for those citizens who cannot afford to pay for medical needs and everyone who applies and are eligible gets covered and that’s a fact. Everyone in America should know that the majority rules in politics! Take a step back and listen to yourself, you don’t need to complain because whatever you are getting “beats a blank!”

    • We’d be better off without the ACA. It has so screwed up the market place that it has caused those who could work to not be hired or to be placed into PT positions so that they can’t afford medical care. Further the deductibles and co pays are so high as to make those who can find a doctor unable to go to him anyway. Might as well not have insurance.

  7. If the earnings limit for Social Security tax were raised or, even better, eliminated, there would be no problem at all for the future of Social Security and Medicare benefits. Low wage workers pay an unfair share of the tax, since 100% of their income is taxed, while high paid workers pay tax on only a fraction of their income.

  8. To those who do not think social security has been reduced don’t know people who were blindsided by earning the whole amount that was taxed and then at retirement being cut to the bone while the next few years thise who earned the whole taxable amiunt had their retirement benefits raised a great deal.
    My husband a ww2 vet had that experience and bequeathed same to me his widow.

  9. why aren’t the people that have a higher income taxed like us regular working people? Its not quite fair, eliminating the cap would help keep it solvent for quite a while.

  10. Why do some folks get their ss on the 3rd of the month & other’s on the 2nd weds. of the month? Those who get it on the 2nd weds. makes for a longer month to month as its rarely on the same day of the month. For instance, you get paid on the 9th one month, then on the 13th the next month. It’s just crazy!!!

    • Hi, Wilma. Mailing Social Security payments every 3rd day of the month was changed in May 1997 to help us prepare for the retirement of the “baby boomer” generation. It’s predicted that the Social Security Administration’s (SSA’s) beneficiary population will grow from over 59 million today to more than 88 million in the next 20 years. When all Social Security beneficiaries were paid on the 3rd of each month, it made the days immediately following “check day” the busiest in SSA field offices and telephone service centers. Now, under “payment cycling” as we call it, beneficiaries receive their payments on the 2nd, 3rd, or 4th Wednesday of the month according to the birthday of the person on whose record they receive benefits. This change has significantly helped us to spread out our workloads throughout the month, allowing our representatives with more time to attend to our daily demands, and try to provide our public with better service. We thank you for your feedback and appreciate your understanding!

    • Hi, Eric. You can get survivors benefits for as long as you continue to meet the eligibility requirements for the type of benefits you’re receiving (Children, widows, surviving divorced spouse, etc.). For example, unmarried children may be eligible to receive Social Security survivor’s benefits until age 18, or age 19 if attending elementary or secondary school full-time. To learn more, please visit our Survivors Planner web page. Thanks!

  11. Ray Fernandez, I need help! I have been abused by the process of filing for SSI and SSD benifits. My doctors have found me disabled for years. I filed 2013! My case has been such a convoluted mess and is absolutely criminal! I have a complaint filed on Judge Mareen Mauer suggested by the social security administration in Salem Oregon. This is so horrific it has caused a second reprsenitive to grow impatient and refuses to be subjected to the anxiety my case has caused them! Please someone help me! I’m despret to not be pawned off to another person that doesn’t have the know how to persue my case. Thank you, Michelle Edwards.

  12. I’m trying to find out how to replace my SNT trustees. One is my daughter, the other my son in law.
    There is nothing listed in the search of ssa.
    I need to speak with someone, with more knowledge than is available from the main phone number.

    775-301-6565

  13. I would like to contact Nancy Berryhill commissioner about a complaint on the social security office local here in Indianapolis and the main number for Social Security. I was awarded my Social Security Oct 21st 2017. The Social Security office called me and advised me about when I was going to get my back pay and monthly checks. The back payment check was sent the on Nov 3rd to my home. It was a for a large amount. The check issued with my first name and middle initial then on the address line they put my last name Black-Hughes. I took it to the bank and it kicked back saying the check was not good. I called social security and they advised to call the US DEPT OF Treasurers office and they are the ones that advised me about the check being wrong. I called back the SS office and they canceled the check and sent another one on Nov 14th, It was made out the same one as the first. I took it to the bank and once again it was refused. Once again I had called SS to let them know and they told me to go to the local office which I did . They took the check issued out a receipt and said the check would be voided and payment would be made by direct deposit to my bank. They said if I did not receive payment to contact their office back and they would investigate again. I went back last Thursday then the same person that I had talked too said there was nothing he could do . I asked for a supervisor and she came out and told me it could take 30 to days to get my funds. That was totally unexceptionable and I asked for her supervisor . A manager came out and said he would do a manager to manger request to get the funds released ASAP and still nothing has been done at this time. No request has been made.,, the check is still showing active and even with the letters that I received from the SS they will not take that as proof. I am getting ready to lose my car, my home, I owe several thousand of dollars out from having to borrow to pay my bills and not get evicted and these people are wanting their money and I am getting ready to get sued. I need help and need it now. I have contacted SS on the 800 line at least a dozen times with different answers from each one, have been to the local office 3 or 4 times and still a different answer and this is not being taken care of. It has been one month and 2 days that I have been waiting for these funds and have been nothing but blown off and ignored, Can someone please please help me get my payment? 313 288 4476

    • I have also contacted the US Attorneys office, and 3 local news channels to see if I can get help. And sending as many emails I can to get someone to help me.

    • We’re sorry for the inconveniences you’re experiencing, Kimberly. We have referred your complaint to our Field Operations Staff for follow up and to take corrective action as necessary. We appreciate your feedback, and thank you for bringing this to our attention.

  14. I am billy key, maybe Nancy Ann.Berryhill. Can help me on my Social Security benefits. Please, I need help on a apartment like rent and light And water and food. I am get 770$ for my Social Security benefits and 16$ for food stamps. That is all of it.
    My phone number is 252-455-8264. Thank u. Have a nice day.

  15. Dear Ms. Berryhill,
    I have been having a difficult time in obtaining information concerning my SSD. I received a notice saying they made a mistake and lowered by monthly check to pay back. I asked for an explanation of the mistake because it appeared on the computer in the SSA
    office that when I received a settlement they used the full amount instead of what I actually received. Went to my lawyer and he said all papers were sent and he would send again. To no avail, no reason was given.
    Now his letter did not show in the computer as being given to the board. I would like to send you my letter and what has been done or not done to fix the problem. Do you have an e-mail address I can send it to, so that maybe you could find someone to help?
    Sincerely,
    Lisa A. Creamer
    35971 678th St.
    Hill City, Mn. 55748 218*697*8439

    • Hello Lisa, we have referred your complaint to our Office of Operations to follow up and to take corrective action as necessary. We appreciate your feedback, and thank you for bringing this to our attention.

      • I will be there in the morning to figure out what is going on with my social security check for the 3rd of the month

  16. My name is cameka mayes mycheck was not on my car today I’m trying to figure out why I am homeless and don’t have anywhere to stay as it is due to my daughter’s check being cut off for 14 months I am in a situation where I am homeless and I’m not understanding why my check is cut off for the 3rd of the month I received the check for the first but have not received it for the third someone please contact me immediately

  17. Hello, The Trustees report on page 155 – “The Social Security Act prohibits expenditures from the OASI and DI Trust Funds for any purpose not related to the payment of benefits or administrative costs for the OASDI program. Where in the Social Security Act is this?

    Thank,
    Rick Mellum

  18. Each year I, Ex Pat in Thailand 13 years, 84 yrs. old, receive a form designed to reduce my benefit, IF, I am working. At 84, disabled, as I am sure many Ex pats 75 + are, do not work but am threatened with total cancellation of REPAYMENT OF MY MONEY I PAID INTO SS FOR 40 + years if I do not reply in a specified number of days.This form costs many millions plus requires 100’s maybe thousands of people to administer and, essentially produces negative results as 1). Many do not receive the form, 2).Many/most are disabled & cannot work. 3). Some don’t want to work and, 4). Many of the rest, maybe all, realizing their benefit could be reduced, lie ,so, why with a certain negative P/L, send it at all ?

  19. How can I find out my total receipts for 2017? I don’t see it addressed anywhere. Why is it so difficult to find? Why isn’t it itemized on the listing? Is it worded in a different way?

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