- Joined
- Apr 5, 2012
- Messages
- 2,802
- Reaction score
- 517
- Location
- Atlanta, GA
- Gender
- Male
- Political Leaning
- Centrist
The Trustees have released their report the summary is found here : News, the full report is found here : The 2014 OASDI Trustees Report
The focus continues to be on the length of the fuse ("The projected point at which the combined trust fund reserves will become depleted, if Congress does not act before then, comes in 2033") rather than the size of the bomb which is found on .... page 192. The unfunded obligation grew to $24.9 trillion in present value. Or in Trustee speak : " If the assumptions, methods, and starting values had not changed, moving the valuation date forward by 1 year would have increased the unfunded obligation by about $0.9 trillion, to $24.0 trillion. The net effects of changes in assumptions, methods, law, and starting values increased the infinite horizon unfunded obligation by an additional $0.9 trillion, to $24.9 trillion in present value."
The highlights : the system's shortfall grew by more than the system collected SOLELY because of the change in year.
Today more than 50% of the public expects to retire after the Trust Fund is exhausted.
Someone retiring today at normal retirement age has a longer life expectancy than Social Security expects to pay scheduled benefits.
The focus continues to be on the length of the fuse ("The projected point at which the combined trust fund reserves will become depleted, if Congress does not act before then, comes in 2033") rather than the size of the bomb which is found on .... page 192. The unfunded obligation grew to $24.9 trillion in present value. Or in Trustee speak : " If the assumptions, methods, and starting values had not changed, moving the valuation date forward by 1 year would have increased the unfunded obligation by about $0.9 trillion, to $24.0 trillion. The net effects of changes in assumptions, methods, law, and starting values increased the infinite horizon unfunded obligation by an additional $0.9 trillion, to $24.9 trillion in present value."
The highlights : the system's shortfall grew by more than the system collected SOLELY because of the change in year.
Today more than 50% of the public expects to retire after the Trust Fund is exhausted.
Someone retiring today at normal retirement age has a longer life expectancy than Social Security expects to pay scheduled benefits.