Tag: Trustees Report update

Social Security Administration sign with logo and website URL

The 2024 Social Security Trustees Report showed a 75-year deficit of 3.50 percent of taxable payrolls compared to a surplus of .02 percent in 1983.  While the increase in the deficit over the last 41 years is large, two-thirds of the increase was totally predictable in 1983 and much of the remainder is due to…

United States capitol in Washington DC with a Social Security card and money

The 2024 Trustees Report slightly lowered the projected 75-year deficit to 3.50 percent of taxable payroll, compared to 3.61 percent in 2023. The improvement is attributable primarily to an upward revision in the rate of productivity growth over the projection period and a further reduction…