May 6, 2020

Social Security Solvency Update

Social Security’s Board of Trustees have released their annual budgetary status of the nation’s largest entitlement program. The challenges confronting the program are no mystery, with different variables undermining the long-term solvency of the trust fund. The key takeaway from this year’s report relating to the Old-Age and Survivors Protections (OASI) – which pays month to month retirement benefits to Americans – reads:  “The OASI Trust Fund reserves are projected to become depleted in 2034, at which time OASI income would be sufficient to pay 76 percent of OASI scheduled benefits.” In other words, if…

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