Living In The Philippines Forum

Itís Your Money => Social Security and Pensions => Topic started by: Lee2 on July 31, 2014, 10:40:04 PM

Title: Disability Trust Fund Empties in 2016
Post by: Lee2 on July 31, 2014, 10:40:04 PM
Some scary news for those of you who are on SS disability. Better news for those of us on regular SS, we have another 20 years if they do not feed the disability with the regular fund.

Quote
4 Reasons Social Security Is In Trouble - Will You Be, Too?
[url]http://tinyurl.com/ncdcbfk[/url] ([url]http://tinyurl.com/ncdcbfk[/url])
On Monday, the Social Security Trustees published its annual Trustees Report on the health of the Social Security system. The bottom line has changed very little since last year's report, and the trustees still expect the Trust Funds to empty in 2033. Once the Trust Funds empty, the program will only be able to pay around 77 percent of its scheduled benefits.

Still, while the trustees maintain their overall projection for the program, its underlying financials continue to crumble.

For one thing, the program's 75-year actuarial deficit increased to 2.88 percent of payroll, up from 2.72 percent last year. For another, the retirement-related Trust Fund -- when considered on its own -- is on the path toward emptying a year sooner than last year's projections. The table below shows the details:
More at the link above.


Title: Re: Disability Trust Fund Empties in 2016
Post by: Vicks on July 31, 2014, 11:11:03 PM
It did not surprise me. There are so many cheats (not all, but many) on SS disability.

Plus their other ridiculous rules which allows a divorced spouse to draw against the other spouse's SS fund.
Title: Re: Disability Trust Fund Empties in 2016
Post by: Splooge Magoo on July 31, 2014, 11:15:13 PM
SS Disability has turned into long term unemployment payments. You run out of unemployment benefits, then try to file for disability. If it get declined, you get a lawyer and in most cases, the appeal is granted. The gov't even has to pay for the legal fees. I think this was on 60 minutes.
Title: Re: Disability Trust Fund Empties in 2016
Post by: mikbal on August 01, 2014, 12:18:44 PM
     If I understand their website correctly, SS disability can only be collected until full retirement age  http://www.socialsecurity.gov/retire2/agereduction.htm. (http://www.socialsecurity.gov/retire2/agereduction.htm.) At that time the recipient has to move over to SS Retirement.

Title: Re: Disability Trust Fund Empties in 2016
Post by: Gray Wolf on August 01, 2014, 09:59:42 PM
     If I understand their website correctly, SS disability can only be collected until full retirement age  [url]http://www.socialsecurity.gov/retire2/agereduction.htm.[/url] ([url]http://www.socialsecurity.gov/retire2/agereduction.htm.[/url]) At that time the recipient has to move over to SS Retirement.


Correct sir!
Title: Re: Disability Trust Fund Empties in 2016
Post by: JoeLP on August 01, 2014, 10:21:32 PM
What's crazy about all of this is the government will act much more quickly to make sure they find a way to fund the disability side of SS than they ever have to take care of the vets or problems in the VA. 
This isn't a knock on the disabled, but on the politicians.
Title: Re: Disability Trust Fund Empties in 2016
Post by: hitekcountry on September 09, 2015, 02:48:56 PM
 "Data from the latest report show that the disability fund will be depleted as soon as next year and unable to pay full benefits to beneficiaries."

who knows what "unable to pay full benefits" means.

http://mercatus.org/publication/social-security-disability-insurance-program-financially-unsustainable-ssdi?utm_source=Email&utm_medium=TWAM&utm_campaign=Newsletter (http://mercatus.org/publication/social-security-disability-insurance-program-financially-unsustainable-ssdi?utm_source=Email&utm_medium=TWAM&utm_campaign=Newsletter)

Anyone on disability my want to start planing ahead.