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Social Security 2024 Trustees Report

May 6, 2024 • By

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Last Updated: May 6, 2024

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. You can also watch this video from Commissioner O’Malley.

 

 

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About the Author

Stephen C. Goss, Chief Actuary

Stephen C. Goss, Chief Actuary

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Comments

  1. Kathy H.

    Thank you Joe Biden and the Democratic leaders in Congress who are working hard to preserve our EARNED BENEFITS from the U.S. government (Social Security). Most of us have paid into this fund for our entire working lives and we will collect monthly benefits now that we’re too old to work. Promise kept. Thank you!

  2. John P.

    Biden is the only thing standing in the way of the GOP ending social security

  3. Steve H.

    Sounds like a lot of commenters like to blame others for their poor planning. Definitely trump supporters. I’ll go with Biden because he likes to lift all voters not just the republicans (who are less than half of the population). Also, RAISE THE CAP on the uber wealthy.

  4. Dfence1122

    If i hear someone call Social Security an entitlement program one more time, i will probably hit that person. It’s amazing how many people think this farcical misinformation from our own government is true. SS is paid for by us and our employers, not the government, yet they act like they are gifting us when they provide the payments, and even worse, use it as a slush fund to buy votes by giving it away to people that didn’t put any money into it. Don’t be fooled…that is our money…and we should all vote out anyone that tries to make us think otherwise.

    • Maria E.

      Ditto!

    • Cory

      Research what you paid and what you get. It’s an entitlement program

  5. David K.

    “More people are contributing to Social Security, thanks to strong economic policies that have yielded impressive wage growth, historic job creation, and a steady, low unemployment rate.”
    Let’s analyze this, shall we? Strong economic policies and job growth? How many of those “new” jobs are part time or workers that returned back to their old jobs post covid? Also, the labor participation rate has fallen, in other words people that can work have dropped out of the labor force. Note that one of the largest employers is now the Federal government. Keep in mind this Administration wants to raise both the capital gains and corporate tax rates. Guess who pays for that?
    All we ask is that this Administration along with Both Democrats and Republicans come clean on this mess. 9 years is not that far away.

  6. Ric T.

    Strong economy? Where? $1300 social and $1000 military pension, not enough for a citizen to live on. But our wonderful government (joke) spends billions in aid to other countries and illegal immigrants, when is the government going to take care of their own people and quit vote harvesting?

    • SGT S.

      You are 100% correct! We We signed up to give our life in the Army & come home to get spit on. Some are having to live on the streets & we are giving billions to other countries & the illegals. We are just barely making it month to month.

  7. Lois B.

    Disabled at 39 , now 60 . This is my income. A lot of seniors have SS as only income . Across the board SS recipients need a raise if you will.
    House, car and health insurance has all risen. Groceries are up as are all durable goods. If , like me who went through a divorce I have debt with high interest rates. I am not alone . This is my lifeline .
    You can’t live on 1200 a month. Rent has doubled or more . Look at how many Seniors HAVE to live in there cars . They are homeless. There are not enough low rent or Section 8 for shelter. There is no way a 20 year old can make it either . Help
    SOS

  8. MajJohn

    The report is misleading. A strong economy, more people working, etc. are cannards. The solvency of the trust funds grow and shrink by the number of people contributing or receiving benefits. There is a sudden surge in contributions, recent arrivals into the country who won’t be drawing from the trust funds for years. This is no different than the baby boomers working their way through the system first as contributors and then receivers.
    Changes in program eligibility such as huge increases in disability recipients also impact on the programs solvency.
    We are in an election year so the spin is to give the incumbent credit for something he had nothing to do with unless you add the recent illegal arrivals as something positive. Years from now, we’ll have the same problem when they start to receive benefits when the laws are modified to give them benefits.

  9. TimS

    The government doesn’t have a problem funding illegal immigrants, “entitled” college students, woke agenda and slush funds. However, when it comes to hardworking Americans that depend on what they’ve contributed to, we’re not important. Remember that in November.

    • Mary S.

      Well I definitely have an issue with finding illegals here when our own people are homeless an living in the streets or don’t have enough funds to help them get by… its rubbish to put Americas last then you wonder why American people are become more criminals by the day. Help our people a then put the illegals to work for their stay a don’t make it so easy for them to get businesses etc . We can’t even get the proper funding to start our own businesses. Raise up our income so we can afford to live comfortably everything is ridiculously high in groceries an we need more affordable housing for sr. Ages 55+ in nice communities not dumps and better areas not where thugs live. Utilities need to be discounted too everything is way to high. Please, help keep us sr . Comfortable and not feeling like we mean nothing to anyone not even our families. We want to be independent not forced to move in with our children, who will resent us for introducing in their space. Plus we rather live alone then be controlled by our family.

  10. Gary H.

    There HAS to be a strict audit on benefits given fraudulently..and how in the world can someone here “Illegally” be entitled to a benefit without a penny worth of contribution? Additionally, if Congress would actually put the lock back on the trust fund it would help extend this …Social security for the majority of recipients is simply getting a set return of their own money..

    • MajJohn

      An illegal still could not receive retirement benefifs if he did not pay into the system or the system of another country in which we had a totalization agreement.

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