Author Topic: Disability Trust Fund Empties in 2016  (Read 2791 times)

Offline Lee2

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Disability Trust Fund Empties in 2016
« 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?
http://tinyurl.com/ncdcbfk
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.


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Offline Vicks

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Re: Disability Trust Fund Empties in 2016
« Reply #1 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.
Never mistake knowledge for wisdom. One helps you make a living; the other helps you make a life.
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Offline Splooge Magoo

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Re: Disability Trust Fund Empties in 2016
« Reply #2 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.
Dan

Offline mikbal

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Re: Disability Trust Fund Empties in 2016
« Reply #3 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. At that time the recipient has to move over to SS Retirement.


Offline Gray Wolf

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Re: Disability Trust Fund Empties in 2016
« Reply #4 on: August 01, 2014, 09:59:42 PM »
     If I understand their website correctly, SS disability can only be collected until full retirement age  http://www.socialsecurity.gov/retire2/agereduction.htm. At that time the recipient has to move over to SS Retirement.


Correct sir!
Louisville, KY USA

Offline JoeLP

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Re: Disability Trust Fund Empties in 2016
« Reply #5 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.
In the land of the blind, the one eyed man is king.

Offline hitekcountry

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Re: Disability Trust Fund Empties in 2016
« Reply #6 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

Anyone on disability my want to start planing ahead.

 


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