Social Security – 2015 Trustees Report Released

Last week, the Social Security Board of Trustees released “The 2015 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.” The 2015 report finds that Social Security has large and growing reserves. In 2014 Social Security took in roughly $25 billion more (in total income and interest) than it paid out. Social Security’s reserves were $2.79 trillion at the beginning of 2015, and are projected to grow to $2.86 trillion at the beginning of 2020.  The long-term projections of the 2015 Trustees Report improved slightly from the 2014 Trustees Report, with exhaustion of the combined Trust Funds occurring one year later, in 2034. The 2015 Trustees Report also continues to project that the Disability Insurance (DI) trust fund by itself will be able to pay full benefits until the end of 2016, at which point if no action is taken the DI trust fund will be able to pay about 81 percent of scheduled benefits.

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