Tag: Trust Fund
What does exhaustion of the trust fund mean? The 2018 Social Security Trustees Report, released last week, shows that the program faces a 75-year deficit of 2.84 percent of taxable payrolls – virtually unchanged from last year’s projection of 2.83. The Old-Age, Survivors and Disability Insurance (OASDI) trust fund continues to be scheduled for exhaustion…
The brief’s key findings are: The 2018 Trustees Report shows virtually no change: Social Security’s 75-year deficit ticked up from 2.83 percent to 2.84 percent of payroll. Trust fund exhaustion is still 2034, after which payroll taxes still cover about three quarters of promised benefits. This shortfall is manageable, but action should be taken soon to…
