Trust Fund Reserve Gains One Year for Projected Depletion Date

A person delivers a packet of papers to a second person.By now, you’ve probably heard that this year marks the 80th anniversary of the signing of the Social Security Act.  In case you didn’t know, this year is also the 75th anniversary of the payment of the first monthly benefits.

And, today, the Social Security Board of Trustees released the 75th annual report to Congress on the financial status of the Social Security trust funds.

As a quick refresher: The Social Security trust funds include the Old Age and Survivors Insurance (OASI) fund and the Disability Insurance (DI) fund. Benefits to retired workers and their families, and to families of deceased workers, are paid from the OASI trust fund. Benefits to disabled workers and their families are paid from the DI trust fund.

The report shows that, combined, the funds now have an additional year – from 2033 to 2034 – before their reserves are depleted. The Old Age and Survivors fund alone also gets an extra year from 2034 to 2035.

Some factors that led to this improvement include (1) faster growth in average wages in the future, because of slower growth in employees’ private health insurance cost – due at least in part to provisions of the Affordable Care Act, and (2) improvements in how we project the earnings of American workers by age.

The DI fund is still projected to deplete its reserves late in 2016. After that, the income collected through taxes will be enough to pay only 81 percent of the scheduled benefits. So, an adjustment to maintain full disability benefits is needed soon.

The president has proposed temporarily reallocating more of the total Social Security payroll tax rate to the disability fund to give Congress more time to consider comprehensive changes to the Social Security program as a whole.

The Social Security program is sustainable, but needs some adjustments. To keep the  program solvent after 2034, Congress could choose to increase payroll taxes by about one-third, reduce benefits by about one-fourth, or make some combination of these or other adjustments.

Because of the importance of Social Security to all Americans, we can be confident that Congress will make timely and well-considered adjustments, just as they have whenever needed since 1935.

Facebooktwitterlinkedinmail

99 thoughts on “Trust Fund Reserve Gains One Year for Projected Depletion Date

    • Amen to that.
      Also there should be no max limit.
      Everyone should pay 6.2 on all their
      earnings. The 1.45 % for medicare
      is based on full earnings no maximum
      cut off. The same should apply for
      social security. Currently the lowest earners are paying the highest because
      they will never reach the cut off.
      By doing this it would save social security for everyone and the high earners do not object to this so what is the problem?

      ERASE THE CAP

      • I agree with you post on everyone paying on full salary. I would like to add. If we SS recipients are not getting a COLA in 2016, neither should Congress. Also, they should give up part of their salary to offset the cut in benefits to people on Disability SS.

      • Free Disability Insurance Reallocation Tax (DIRT) Act:

        To immediately amend the DI tax rate from 1.80% to 2.30%, from 0.90% to 1.15% for employees and from 0.90% to 1.15% for employers under Sec. 201(b)(1)(S) of the Social Security Act 42USC(7)II§401 and amend the OASI tax rate from 10.60% to 10.10%, from 5.30% to 5.05% for employees under 26USC(C)(21)(A)§3101 (a) and from 5.30% to 5.05% for employers under 26USC(C)(21)(A)§3111 (a) to avoid depletion of the Disability Insurance (DI) Trust Fund in 2016 without increasing the overall 12.4% OASDI or 15.3% OASDI and Hospital Insurance (HI) tax-rate under 26USC(A)(2)§1401 beginning October 1, 2015.

        To amend the DI tax rate again in 2018 to 2.20% from 2.30%, from 1.15% to 1.10% for employees and from 1.15% to 1.10% for employers under Sec. 201(b)(1)(S) of the Social Security Act 42USC(7)II§401 and amend the OASI tax rate from 10.10% to 10.20%, from 5.05% to 5.10% for employees under 26USC(C)(21)(A)§3101 (a) and from 5.05% to 5.10% for employers under 26USC(C)(21)(A)§3111 (a) without increasing the overall 12.4% OASDI or 15.3% OASDI and Hospital Insurance (HI) tax-rate under 26USC(A)(2)§1401 to maximize efficiency until a deficit appears in the OASI Trust Fund in 2019.
        Without Income Limit Law (WILL) Act: To abolish the maximum taxable limit on DI contributions on January 1, 2016 and OASI contributions January 1, 2017 and repeal Adjustment of the contribution and benefit base Section 230 of the Social Security Act 42USC(7)§430. To require the Social Security Administration to pay for SSI Costs beginning January 1, 2017. To share profits in excess of social security program costs to the general fund of the U.S Treasury on a sliding scale beginning year end 2016 DI 50/50 with the USPS, and OASI 10/90 to eliminate the federal budget deficit. In 2020 OASI would share at negotiated rates an estimated 25/75, by 2025 OASDI would share 50/50 and by 2030 OASDI would save to pay for the peak in costs of Baby Boomer generation in 2035 that might raise the overall OASDI tax rate from 12.4%.

        P.S. The one year gain mentioned in the blog-posting is an illusion. Two errors have been detected, in the 2014 Annual Report of the OASDI Trustees in OASI Table IV.A.1: (1) the interest rate is not uniform, it fluctuates wildly high, this causes the 1 year retardation and aneurysm phobia. (2) the high and low cost scenarios are confused so that high spending estimates are found in the low-cost projection.

        Recalculation of the 2014 Annual Report of the OASDI Trustees http://www.title24uscode.org/Year.htm

      • I agree with Joyce if we don’t get a 2016 cola adjustment all politicians should have 25% reductions in salaries& if they don’t we need to post issue on Social Media & not pay our taxes for year 2016 also Social Security needs Reforms, & Restructuring instead of pooling beneficiaries receipient’s benefits every Social Security Applicant should have their own account with every hour they work accounted for/credited with overtime accounted for 1 1/2overtime,doubletime,&tripletime included the way Social Security is Structured now only your ten highest yearly gross earnings are credited for benefits that’s structured totally wrong/inaccurate/improper every hour you work should be credited/accounted for the way Social Security is structured now you work 60 hours per week for 45 years someone else works 25 hours – 40 hours per week for same time period they both get the same amount of monthly benefits?! these politicians are elected for 2-4 year terms after 1 , 2 year term they achieve a pension & free lifetime medical with no copay’s or deductibles & they get paid 10x’s more an hour compared to average middle-class blue collar workers that’s not right.?!

        • Incorrect, it is your highest 35 years. And all you earn is counted. OT Triple OT makes absolute no sense. if you make 30K you make 30K, what is the difference if you made it through OT work, and someone else made 30K straight pay ?

      • I have been saying for years that ALL citizens paying into social security should pay in for the entire year. There should be NO cap for the wealthy who, at the present time, do not contribute after the first few months of the year. This is totally unfair to the lower income people who never reach that cap.

      • Those funds should have never been taken from the SS Fund in the first place. Where can you borrow and not pay it back???
        Repay it back from what it was used for when it was borrowed.
        Reduce the outrageous spending habits that are practiced. Can you spend money that you don’t have??? If you do it’s called credit, and if you don’t pay that back what happens???

        • David, Any funds that have been “borrowed” from the Social Security Trust Funds have always been paid back in full, plus interest.

          Social Security is a pay-as-you-go system. Social Security taxes collected from today’s workers pay the benefits of today’s retirees. Any funds in excess of what is needed to pay today’s benefits are invested in special issue, U.S. Government, interest-bearing securities. This investment – the purchase of U.S. Government securities – is what constitutes the “borrowing” that people are sometimes concerned about. Investing in (i.e., purchasing of) bonds (including these special issue securities) is always a loan to the party that floats the bond – in this case, the U.S. Treasury. In 2014, the Trust Fund asset reserves earned $98 billion in interest at an effective annual rate of 3.6 percent through investment in these special issue U.S. Government securities.

          Please check out our Trust Fund Frequently Asked Questions page for more information.

      • A good start will be to end foreign aid to counties who hate us and burn our flag. Then stop all tax payer aid to those in this country illegally. Eliminate Washington lobbyists who are ruing our country. Then term limits for congress. I could go on but you get the picture…..I hope.

        • Well said indeed, Jimbo! It’s more than time to do what is right!
          Also, and perhaps not exactly on the same topic, but like many other responsible citizens I know, I itch for the tax money that goes to those who receive (leach is a better word) without any accountability. How about requiring something in return for the ‘freebies’ handed out to individuals? As an example, a ‘receiving family/individual’ should have their children (or themselves) show tangible academic and social progress in school? Perhaps a certain number of hours of work per week be required at their school, park, or community – like cleaning up, painting, etc. etc.? It would be a win-win . . .

    • If they did that the funds will be there for our great grandchildren and beyond. They should never have been allowed to touch money that doesn’t belong to anyone but the ones who contribute to SSA.

    • Yes, I agree….they stoled our money from the fund during the Bush Administration and haven’t returned it. They had no right to take our money and use it and they certainly have no right to keep it. THEY NEED TO PAY IT BACK NOW.

    • Totally agree. We have to pay our own way especially when we borrow money. Why should we be penalized when the Government borrows money. They should be responsible for paying this back themselves. Don’t take it out on us and make us pay for their debts. I feel that the President, Congress, Democrats, Republicans, Senators, All the Politicians, and all the Governors. Should start helping us out, especially, the middle-class, senior citizens, veterans and the homeless, instead of themselves and Government.

    • I agree ,the Goverment should pay back ,what they have Borrowed and Quit dipping into Social Security. We aqs seniors have worked and paid into it, The congress does not pay int Social Security.Neither does any one inHouse or congress ,Neither does the President.
      Yet they always get a raise.. Quit giving our money away to anyone who has not worked for it.

      • Helen, all members of Congress, the President and Vice President, federal judges and most political appointees, were covered under the Social Security program starting in January 1984. They pay into the system just like everyone else. Furthermore, everyone needs to have 40 credits, or 10 years of work paying into Social Security taxes, to qualify for Social Security. The number of credits needed may vary depending on which Social Security benefit you are applying for.

        • Thanks for letting everyone know (again) that members of Congress and the President “DO” pay into Soc Sec. It has been over 30 years now and people still do not know tha!!!

    • Ron, Any funds that have been “borrowed” from the Social Security Trust Funds have always been paid back in full, plus interest.

      Social Security is a pay-as-you-go system. Social Security taxes collected from today’s workers pay the benefits of today’s retirees. Any funds in excess of what is needed to pay today’s benefits are invested in special issue, U.S. Government, interest-bearing securities. This investment – the purchase of U.S. Government securities – is what constitutes the “borrowing” that people are sometimes concerned about. Investing in (i.e., purchasing of) bonds (including these special issue securities) is always a loan to the party that floats the bond – in this case, the U.S. Treasury. In 2014, the Trust Fund asset reserves earned $98 billion in interest at an effective annual rate of 3.6 percent through investment in these special issue U.S. Government securities.

      Please check out our Trust Fund Frequently Asked Questions page for more information.

  1. reducing benefits would be horrendous.

    erasing the cap on the social security tax is the best solution. those with higher incomes, including me, can afford to pay the higher tax. as it is now, this is a regressive tax. the lowest earners pay the highest tax. similar to the sales tax.

    the social security money is taxed twice. federal and state income taxes are paid on the fica and medicare component that the taxpayer pays. then when retirement benefits are received, some of which are a return of the tax payers own money previously taxed and paid in, the benefits are federally taxed again. there should be no fed or state tax on the medicare and fica component going in or coming out.

  2. The growth in DI participants is not rational. Qualification must be stricter.

    Separate the DI fund from retirement benefits.

    People are living longer, SS should start later.

  3. The Clinton administration had made cuts in disability benefits back in the 1990s, which caused serious hardships for many. The currently-proposed cuts are far deeper than those were. We’ve seen as Congress has borrowed funds from the (significant) Social Security surplus, to meet more immediate needs.” This would indicate that funds could be transferred from other things that are less vitally important, and used to protect disability benefits. We can note that this year alone, Congress virtually ended food stamps for the disabled — a significant cut in monthly income.

    • Bill Clinton took 750 billion from medicare to pay the debt.

      To save SSDI

      1 remove the cap completely
      2 gradually start retirement benefits a year later for every generation
      3 raise the payroll tax on the wealthy

    • Yes the cut in food stamps lower our disability $200 per DI recipient to be able to pay housing etc. Makes our DI check that much less. The Clinton administration had a surplus in SS. Then the Bush administration came in the money was GONE. Lawton Chiles, gov of FL.then, had just won over millions sueing tabacco companies, i think,for a good cause for FL. FL had a surplus in our education dept. we were to have about 10 students per classroom. We were the 1st state. Jeb Bush came in as gov of FL. and THE MONEY DISAPPEARED. I AGREE LET BUSH ADMINISTRATION PAY IT BACK

  4. What about repaying what was borrowed – with interest!? Everyone else has to pay back what is borrowed in loans, why not the government – this was not government’s money – it was ours!

    • Sharron, Any funds that have been “borrowed” from the Social Security Trust Funds have always been paid back in full, plus interest.

      Social Security is a pay-as-you-go system. Social Security taxes collected from today’s workers pay the benefits of today’s retirees. Any funds in excess of what is needed to pay today’s benefits are invested in special issue, U.S. Government, interest-bearing securities. This investment – the purchase of U.S. Government securities – is what constitutes the “borrowing” that people are sometimes concerned about. Investing in (i.e., purchasing of) bonds (including these special issue securities) is always a loan to the party that floats the bond – in this case, the U.S. Treasury. In 2014, the Trust Fund asset reserves earned $98 billion in interest at an effective annual rate of 3.6 percent through investment in these special issue U.S. Government securities.

      Please check out our Trust Fund Frequently Asked Questions page for more information.

  5. It is disturbing, if common, to see the number of absolutely false comments here. I wonder what the motives are of those who who make such claims. The facts about SSDI can be found via us.gov. It would not be possible to make requirements for SSDI more stringent. One must have medical verification that not only does a disability exist, but that it is so severe as to make gainful employment impossible (those with less severe disabilities can receive job services). Cases are reviewed regularly to determine if the recipients becomes employable to any degree. The application process itself takes a minimum of a full year (from the date of application), extensive records (medical, job history, financial, etc., etc.) For the apparent masses of the ignorant, this generation — which still provides massive amounts of foreign aid annually — has fought every effort to allow humanitarian aid to fellow citizens in need. Great lengths are taken to ensure that the very minimum is allowed for Americans in need — the elderly poor, the disabled, the working poor (the jobless poor do not qualify for any aid).

  6. So because I am not disabled and worked since I was 14 I should forfeit my SS which I have paid all my life. Ok let’s say u put money in a bank, the bank says hey you make too much we are going to take your money and give it to someone else. There are people who need help and I think we do help however I know people on so called disability that appear healthier than me?

    • If they are on disability there is a reason, maybe you do not know as much about their health as you think you do. If they are not disabled they will get caught doing something within a year or two and they will loose their benefits plus have to pay back all they received.

    • or possibly a mental illness. You are away we don’t just lock “them” away anymore in Pennhurst Asylum right ? They are allowed to live their lives, and can be quite healthy.

  7. I agree wit most of what I’ve read here. The best solution I can see is 1st Pay back what has been borrowed and pass laws making it illegal to borrow from ss in the future. 2nd remove the cap on ss tax for high earners.

  8. The social security “Trust Fund” was never a proper trust and as such was never managed in a fiduciary manor for the benefit of those contributing to it. It was set up as a Treasury account and the funds were available to government agencies from the start. Our government has just become less and less ethical in regard to the management and use of our coerced savings over time. I guess we can consider ourselves lucky that there is any money at all in the account.

  9. Lying politicians..from both worthless parties…stole the money to pay for their pork projects and wars.That in itself is the main reason they squeal about ending SS and Medicare,along with VA benefits us Vietnam vets get,because they won’t pay the IOU’s they put in place of the money they used. This country is really ****** and unless Americans stop electing,and re-electing these crooks,we will go the way that Greece has.It’s YOUR choice people.

    • Why would they care???
      The politicians don’t pay into the fund nor do they need to rely on the fund for their pensions. The same as healthcare, they have their own plans and do not need to rely on what they create/design for the rest of us. I say if is as good as you want us to believe, then why aren’t you all part of it???
      Why would you need a different plan???

      PAY BACK the money BORROWED by taking the money from your less critical program spending and ELIMINATE the CAP on paying into the fund. Most of those at that level wont complain.
      That should solve the problem!!!

      • I agree they take take take and never replace and you and I are paying for their retirement plans and healthcare! They want to cut ours? They need to cut theirs too then! And payback what they stole!
        Remove the cap! We need to get the fat lazy cats out of congress!

  10. Why would you cut benefits. Some people have to live on this income.

    The current cap to tax wages is now at about $110,000.
    Why not raise the cap or just get rid of the cap. Just raising the cap would solve the problem but than the democrats would be raising taxes on their big donors etc as would Republicans.
    Its an easy solution. I didnt work all my life to have my benefits cut right before I am getting ready to start collecting.

  11. I would agree that a lot of those who make comments are talking out of their behind and never bothered to get the facts straight. However, I would agree that those who paid into the fund should expect to receive money from the fund and I would venture to guess that, based upon my own experience, you will generally receive more than you actually paid into the fund (with the exception of those who die before collecting or early into collecting w/o survivor benefits).

    Looking at all of the other issues that the government has responded to recently (God, Prayer, Flags, Pledge of Allegiance, Our Constitution, etc.) We should all agree to take more from us in taxes, reduce benefits to the retirees, and support the wealthy because they seem to do whatever the smaller percentage of people desire or request.
    If 85% of the people are against the issue and only 15% are requesting it be done, they do it ! ! !
    What do we expect… it seems that our presidential elections seem to go the same way.

  12. I agree on raiseing the cap. Seems logical and would have minimal impact on those effected, but maximum for hose in need, verses any cuts.

  13. I also do not agree with my money being taxed twice. It is true all earned wages are taxed, then years later our “benifits” are taxed again when disbursed..

    • 85% of my and wife Social Security benefit will be taxed. The one thing that makes it somewhat palatable is that tax money goes back into the Social Security fund to help shore it up. If it went into the general fund helping support tax cuts for millionaires and billionaires I would be livid. Those suckers want a flat tax. Why not take the income limit off of Fica tax and make it a true flat tax.?

  14. Regarding disability benefits. I know someone who has a bad back and is on SS DI. From outward appearances, he looks extremely fit. He works out carefully to keep his core strengthened which helps his back. Most of the time, he knows his limits. Ibuprofen at 800 mg each night so he can get out of bed in the morning. However, when doing ordinary tasks or no, he suffers “flares” and can be bed bound in extreme pain or unable to use his legs to walk. Handrails on either side of his stairway have offered some assist after losing control of his legs and falling down the stairs. Appearances can be very deceiving for someone who is disabled. You don’t know the whole story.

    • I have two brothers with bad backs and are in such chronic pain they are on oxycodone. That stuff is highly addictive. If you friend can stay on Ibuprofen , tell him to do so. Thank God my back is still ok. But knowing the family weakness I am very careful not to hurt it. And yes they are , were (one is decease) disable.

    • i agree with that. i have a disability tag for my car because i had back surgery, and when it flares up i can barely walk so i park in handicap space to get into the grocery store. dont judge me because i dont have a wheelchair.

  15. Many old folk and I am now a member of that clan fought the ACA tooth and toenail. But that reform extended Medicare over a decade before it ran out of money. Now I find out it has helped push the Social Security trust fund depletion date farther out. Certain elements of Congress want to allow the disability fund to run out of money even though there is money for it in the retirement fund ,so they can take a chainsaw to all of Social Security, Past congresses have shifted money around to preserve the whole program. This current congress is very hostile to this program. The radical right has never given up on destroying this program. Even though it is worker funded. Guys wake up, research , use reason and disregard the endless misinformation. Then vote wisely for your government leaders. Other wise yours and future retirements will be a whole lot less rosy.

  16. I think all benefits like solar energy and medicare we should get for less so we could put more money back in to the worlds economy and not so other companies can make money off of us for the benefits.

  17. I agree, cap on social security tax should be rescinded. Next, Social Security must be moved from General Accounting to restricted Trust fund ( originally designed ). Which means no Congressional action will ever be taken to impact Social Security account. Third, Social Security fund will be restricted to taxpayers who have paid into the fund. Those who never paid will need to apply for assistance through other social services programs. Those programs are still taxpayer funded and fall under separate appropriated funded allocation.

  18. Raising minimum wage should help DI fund. Cap should be eliminated and make SS non taxable or at least lower taxable portion to 50% vs current 85%. Indexing minimum wage to poverty level should create some offset reductions in other areas.

  19. Nobody is in favor for cutting Social Security , but if we are more generous, we will end up getting more applicants seeking to take advantage of that. it is always a Catch-22 the whole way. Every good intention we make usually end up making things worse. It is just that we are not communicating with people enough about Social Security and that Social Security is not a bottomless well .. it is entirely up to people to make choices and decisions for themselves about how to treat Social Security with respect without needless abuses and stuff. People is not perfect , but we have to start owning up to the fact that we will end up screwing ourselves at our own faults. We can tax the billionaires , yet we will still want more and more. So it is a matter of placing undue demand on Social Security. it is never a question of entitlement, but a question of judgement on everyone’s own behalf himself. We have to be more honest with ourselves ..No one is going to deny you of your rightful entitlement , but the money is no guarantee. It is up to you to learn how to share selflessly. I cannot tell you how to live your life or anybody can , either. it is up to you individually to make own determination about your own life.

  20. i had to use up my savings to pay health insurance premiums costing over $500 per month, plus using the money for doctor visits , prescriptions, surgeries. also, for a while both myself and my spouse were unemployed during the recession (might as well call it the depression) and i am spent out. i will be getting ssdi in september so a good size chunk will go into paying for health insurance til i can get on medicare. better not cut my benefits. i worked hard to pay into this system and i want every dollar i can get. …we definitely should not have to pay taxes on disability benefits nor on regular benefits. we need to get out of iraq and afghanistan completely, which i believe we were promised would happen? and use that military money to shore up social security. if you want to see nationwide uprising, just try cutting those benefits or removing them.

  21. I have learned through the grapevine that, around the US, people know which doctors to go to see in order to obtain DI for their bad backs and anxieties. Let’s start auditing orginating doctors and encouraging folks to get off of DI, and/or helping them to find some employment that is compatible with their issues. Let’s also consider doing away with OASI, I would rather have my SS taxes in my pocket so I can save and invest them myself than having government take my money, spend it, and return me next to nothing when I retire.

  22. I would like for the cap for married people to be raised its hard to live month to month on a little over $1000 and rent is half of that try to live a normal life is hard 81 in foodstamps I see why people just give up on living in this world they make it hard to live the life you want to live
    I didn’t ask to come here in the first place it wasn’t my fault that I was beat and raped as child are that I had polio didn’t walk until age 4 and 44 years later after both of parents passed away I have no records to show proof of it this is not fair to me

  23. A portion of the individuals collecting disability insurance are not truly disabled. Find out who they are, and quit paying them benefits.

  24. Tell me please how and why a convicted Nazi war criminal involved in the holocaust can be deported rather than jailed and still receive monthly Social Security benefits. Some of the things that are hushed up and fly under the radar go beyond what is moral. Social Security was never meant to be used in some of the ways that it is being used today. I have tried to word this in such a way as to comply with the site comment policy. My true concern is how do allow such blatant abuse of our systems just for the sake of some perceived need to fund people who deceived us to receive the benefits that we as honest citizens worked to put in place?

  25. I as an immigrant to us work hard and contributed to ssa fund for so many years’ and now retired.Obviously the cola being added annually is not true. Based on workers income indexed yearly.Politicians make good salaries and Max pensions when retired.Is this Fair to the citizens or to God?
    Big No.

  26. I realise congress is part of this problem so is fraud. I have worked since I was 15 years old now I am fifty working with A chronic Illness still cannot get disability, also I have been A single father for 13 years.
    Why dont people accept responability if they can and work, I do for my son. Too many people are getting disability from ss for no reason like depression, alcoholism, and many other things that work would help them with not just sitting around waiting for a check that A problem for everyone unless they really cant work.

  27. I am tired of the government using the SSA funds like their “get out of jail” card. they need to pay the “loan” with interest! We pay into Social Security and they are stealing it!!!

    • Kat, Social Security is a pay-as-you-go system. Social Security taxes collected from today’s workers pay the benefits of today’s retirees. Any funds in excess of what is needed to pay today’s benefits are invested in special issue, U.S. Government, interest-bearing securities. This investment – the purchase of U.S. Government securities – is what constitutes the “borrowing” that people are sometimes concerned about. Any funds that have been “borrowed” from the Social Security Trust Funds have always been paid back in full, plus interest. Please check out our Trust Fund Frequently Asked Questions page for more information.

  28. I have the same consensus as others -I would like to be paid back for the amount they have stolen from myself and many others.

  29. DON’T ELIMINATE OR REDUCE DISABILITY OR SOCIAL SECURITY!

    Getting kicked out of my home at 17 by the new stepmom, after my Mom passed was bad! I survived. Nobody, not even my husband during our marriage, financially supported me. Years later, with a Masters Degree ( No student loans…), and extreme determination and hard work, I saved almost $500k.

    Then, when I was laid off with other colleagues by the new CEO, 2 weeks later I got sick and took to my bed – for two years, only awake 4 hours a day. Fibromyalgia and Chronic Fatigue! During that time, my significant other of 11 years, taking advantage of my illness, spent and stole my life savings. He then moved to Greece, where he has dual citizenship.

    I’m passing this story on to you for one reason only! If I had not been approved for SSDI, only God knows what would have become of me. My illness is severe, my old life is gone. Even with Medicare, the pharmaceuticals get most of my money.

    There are so many things to fix with our country; including health care fraud, self serving politicians without any sense of fiduciary responsibility, and big businesses lacking basic humanity – we CANNOT let them steal what we have left of our future, and our families future, what we worked for and what is rightfully ours! We must SPEAK OUT, or suffer the consequences. No one is immune.

  30. I remember when I began working 30 years ago. The deduction was to be set aside for my future. At this point I would be happy to have that money back dollar for dollar regardless of COLA. It is very frustrating to feel that I won’t get back what I put in when I see things given away to non-contributors in my profession. We need change STAT!

  31. Why am I not getting the monthly amount I was told I would get when I retired in May 2017? I was told I would get about $50 less than what I qualified for until January 2018, when I would get the accrued amount due, and my future payments from January would be the correct amount. In January, the adjustment did not come, and I asked my local office why. They informed me the accrued amount would not be figured until August 2018, at which time I would get the accrued amount would be paid and the corrected amount would come to me. It’s now August 2018 and I have not seen the accrued amount or the corrected amount. What gives?

    • Hello Dennis. 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.

Leave a Reply - (comment policy)

Your email address will not be published. Required fields are marked *