MENU

Social Security: Trustees Release 2019 Annual Report Showing Extended Solvency

On April 22, the Social Security Board of Trustees released “The 2019 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.” The 2019 report finds that at the end of 2018, Social Security’s reserves were $2.89 trillion. The Trustees project that Social Security’s combined Trust Funds can pay all scheduled benefits through 2035, at which point the Trust Funds would be able to pay approximately 80 percent of scheduled benefits. The Trustees also find that the Social Security Disability Insurance Trust Fund can pay full scheduled benefits through 2052, after which the fund will be able to pay about 91 percent of scheduled benefits. This is 20 years later than projected in the 2018 Trustees Report, due to ongoing declines in applications, awards, and the number of people receiving Social Security disability benefits.

The post Social Security: Trustees Release 2019 Annual Report Showing Extended Solvency appeared first on The Capitol Insider.