Social Security 2022 Trustees Report
Reading Time: 1 MinuteLast Updated: June 2, 2022
Today, the Social Security Board of Trustees released its annual report on the long-term financial status of the Old-Age and Survivors Insurance and Disability Insurance Trust Funds. Want to learn more? Read our press release.
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Tags: General Information, Trustees Report
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Stephen C. Goss, Chief Actuary
Stephen C. Goss, Chief Actuary
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Maxine
I would just like to add; It sounds like most of the folks commenting went to the same school of thought. Obviously have strong opinions and needing to convince each other that you work hard and the people entitled to receive Social Security. If you don’t agree with the way it is distributed run for public office, that’s right, Don’t be so lazy, time to put your thought to change instead of complaining. I will almost guarantee if you did serve the public in anyway, you would come back with a different way of looking at things probably more gracias and understanding.
Ashley
Ive been in the work flied for 15 years, and now suffing for bipoalr and mild deppsrssion, causeing me to suffer in my joints and nerve area. Now i see everything i do is now showin on the tv causeing lack in my love life.Sometime im unsure what to do or who to ask for help. Now i am more stress on my finacals, it seems that i keeping getting No’s after applying for services that they clealry say they offer. Will i identifiable as disable to recive help under disablity social security
Ann C.
Hi, Audrey. We’re sorry to hear of your health condition. Social Security pays disability benefits to people if they have a medical condition that has prevented them from working or is expected to prevent them from working for at least 12 months. We use the same five-step process to make a decision on each application. We hope this helps.
Karen
Repeal the Windfall Elimination Provision!
ML
I wonder if the over One Million deaths from COVID-19 would change these numbers at all? Perhaps not as many much younger than retirement passed away and their years to pay into the system are gone, and there is a chance they had widows/widowers and minor children that might be entitled to some support.
Barbara
When are you actually going to help beneficiaries that only collect SSA DISABILITY.
You guys are helping SSI,SOCIAL SECURITY RETIREMENT. I get roughly 500.month and now I am so far behind on my bills. So get up off your butts and help the people on SSA DISABILITY. FOR THE LOVE OF GOD DO SOMETHING..
Dorothy W.
Barbara, you should be receiving about $800/mo. If you only get $500/mo, something is wrong.
If you worked, and $500/mo is your Social Security Disability payment, you should apply to see if you can also get SSI (Supplemental Security Income.) SSI pays about $800/mo. People with very low income, disabled, or retired can all potentially get SSI. Depending on income and work status.It would pay you the difference between your current payment and SSI’s approximately 800/mo.
If you only get $500/mo in survivors benefits as a widow, you could get SSI too.
If you are getting benefits off your parents’ record and you are a disabled adult child, you could also get SSI.
If your husband worked, you didn’t, and he is deceased, retired or disabled, you might be able to draw from his work record ( no worries, he will never know) and get higher payments.
At any rate, I think you need to get hold of Social Security to start asking questions and apply for SSI and any other help they have to offer.
Some very cool benefits of getting SSI are that you get: 1. Medicaid which will cover your medical costs until they are nearly zero!
2. There is extra help to pay your Medicare premiums and costs.
3. SSI income cannot be garnished for any debt except child support.
4. Co-pay for meds are frequently under $1.
5. If you get SSI you qualify for food stamps, low income housing, The federal Emergency Relief Action Plan (which pays rent and utilities) and a lot of other low income programs.
Rick
It’s bad when the government we have now wants to overload our country with illegal aliens and give them everything,but Americans can’t get what they need,and the government doesn’t care! Look at the mess we have in office,we are a joke to the world!
Mary
If the government paid back what they have previously borrowed or took….we’d be in great shap!
Robert H.
Amen to this statement. No Gimmicks either. No lowering of this or that monthly retirement amount.
It’s time to start SS Payback payments in the General fund to bolster longer life.
Not sure but SS Funds have been raided by Congress 3 times
in the last 20 years. Funds that could have been collecting interest all this time. The Gov. can not be trusted to keep their promises.
Gary H.
This report lacks the candor to shout the fragility of a broken system. We are beyond band-aids…we fundamentally have to crack down on the DI fraud that is rampant and providing benefits to anyone who has not contributed to the fund. It is beyond ludicrous to provide money to those who never worked a day here or paid a penny into the system. WRONG AT EVERY LEVEL!!!
S. S.
So true. The Government has the means to replenish these funds but other countries come first
Dorothy W.
I agree with your statement, that we should not be giving Social Security money to illegal aliens. I do, however, think that we have a duty to provide a minimal standard of card for our disabled residents that have never and can’t ever work. In that regard, I think we don’t provide enough. $800 a month won’t cover even basic needs these days. How do we justify forcing the disabled into abject poverty and homelessness?
john O.
50% of the SSI payments come from the general fund and not the trust funds. Those payments are a drop in the bucket compared to the payouts from Title II. You suggested reforms would have little to no effect of fund solvency. There are able bodied people running around with no apparent disability, yet we know based on recent news they are 100% nuts.
Stacy
I believe that if SSI recipients were monitored more closely (being that some haven’t ever held a tax paying job) that would be a start. I know a few people personally that receive SSI and get around just fine. They have become “entitled” and some need to be reviewed more often, if they are even reviewed now. The recipients that genuinely need it are the ones that deserve it and I am sure would not have a problem at all being reviewed and or investigated (if need be). I was just recently made to apply for SSDI and was approved. I am receiving what I have worked for and paid into. That’s what it is for -unforeseen legit disability that has been paid into by working most of your life. Not a hand out for ones totally able to work just not willing to.
Frank
Get off your idiotic soap box. You have no idea about what you are speaking of.
Mary
There have been, in the past, investigations done by 60 minutes and 20-20 on this topic…basically scamming the system. So I disagree with you that she should get off her so-called “idiotic soapbox”!
louie
yeah you are correct. ss should only go to people who have payed into to it throughout your working career.
Donna D.
Rudeness never helped anyone understand something more clearly.
Stacy
Well Frank, first and foremost I am definitely not on idiotic soap box that you obviously rode in on. Who do you think is paying for SSI for the ones that are totally capable of working??? The good ol’ TAX PAYER. We own our home and property taxes continually increase (just one example). Like I said earlier, I know of a few people receiving SSI and totally capable of working. Down to owning things and just putting them in someone else’s name. They offered me to apply for SSI when I was forced by my employer to apply for disability. I politely declined as what little my husband and I have, is way too much. I’m a very honest person and do not need supplemental income at this time as my husband has a good job. I do not want anyone to think that I am talking about ALL that receive SSI, it is a program for those in NEED of it NOT THE ENTITLED LAZY ONES that are idiotic and roll in on soap boxes
William
The objections to cheaters are valid. I think there are way too many people getting funds who do NOT deserve them. Usually, the only people who object to tightening the rules are those who are already scamming the system and don’t want to get caught.
Stacy
Well Frank, first and foremost I am definitely not on an idiotic soap box that you obviously rode in on. Who do you think is paying for SSI for the ones that are totally capable of working??? The good ol’ TAX PAYER. We own our home and property taxes continually increase (just one example). Like I said earlier, I know of a few people receiving SSI and totally capable of working. Down to owning things and just putting them in someone else’s name. They offered me to apply for SSI when I was forced by my employer to apply for disability. I politely declined as what little my husband and I have, is way too much. I’m a very honest person and do not need supplemental income at this time as my husband has a good job. I do not want anyone to think that I am talking about ALL that receive SSI, it is a program for those in NEED of it NOT THE ENTITLED LAZY ONES that are idiotic and roll in on soap boxes
Deb
Ditto. How wonderful you don’t need SSI. Some of us who did work but became disabled after only a few years often need full disability but can’t get it without the lawyer we can’t afford so have to settle for SSI and live very uncomfortable lives.
Nadine
I agree with Stacy
Eddie
We still have a voice to tell congress to stop using the money we all diligently put in after working all the years to have something to retire with. As some say it should go to the ones that invested in the system.
Clo
I understand your point but people can be walking around fine and still have a mental disability. I know that for a fact they do get reviewed twice a year. My Mom has SSI and she got reviewed twice a year and she is 82 years old .
Stacy
I completely understand where you are coming from. The sad thing is, is like I’ve said the ones that are totally capable of maintaining employment are the ones that NEED to be reassessed every 6 months and the few that I know that are taking complete advantage of it slide right through the cracks. The system has it ALL wrong. Not that it would completely solve the problem, but the ones that do NOT qualify for an SSI claim more than 12 years ago after an accident, but are completely able to run around everywhere, ride and race a Harley, travel all over to the races, and I could go on, what they could eliminate put it in the actual SS fund. Every little bit would help. Like now, if it is eliminated by 2035 my husband will just be 65, but for the next 20+ years they will continue to take more taxes out of his check. RID of the ones taking advantage of it. They have many options to try to gain employment. The eligible ones should be made to go through the program or they do not receive a check. No effort, no check.
Stacy
I completely understand where you are coming from. The sad thing is, is like I’ve said the ones that are totally capable of maintaining employment are the ones that NEED to be reassessed every 6 months and the few that I know that are taking complete advantage of it slide right through the cracks. The system has it ALL wrong. Not that it would completely solve the problem, but the ones that do NOT qualify for an SSI claim more than 12 years ago after an accident, but are completely able to run around everywhere, ride and race a Harley, travel all over to the races, and I could go on, what they could eliminate put it in the actual SS fund. Every little bit would help. Like now, if it is eliminated by 2035 my husband will just be 65, but for the next 20+ years they will continue to take more taxes out of his check. RID of the ones taking advantage of it. They have many options to try to gain employment. The eligible ones should be made to go through the program or they do not receive a check. No effort, no check. (All tax payer money but I’d rather see it go towards getting capable people gainful employment. As well as it says at the bottom of this page “this website is funded at tax payer expense” Would rather see it go to a website like this for pertinent information and pretty much any questions answered vs. paying people to just sit home, travel, whatever they do that they are capable of other than employment)
Doris
Well said. Hard workers should be able to reap their due benefits.
Angie
I second that motion! I was injured at work, we are poor and had to settle. The funds that were given was just enough to get me caught up on back bills. Some of my meds and none of my medical needs. I am still young and have been trying to finish school. With my injury it has led to more injuries. I am almost bed riden. Guess what, I can’t get SSI. Been working since I was 16. Instead of having the true injured people fight the system, help them. Those that are robbing it needs to have all the red tape and pay for the their representation.