The Social Security retirement fund is drying like a once-flourishing well. By 2035 in order for folks to see some sort of pension, benefits have to be sliced. But just a few years from now… 2016, to be exact… congress needs to start taking a look at Social Security Disability Insurance (SSDI).
If you’ve lost income, SSDI is there to make sure that if you retire or are suffering from sort of disability, that you’re covered. The issue is that the funding source is payroll tax. So either that tax increases, which none are too happy about, or… or what?
Once SSDI funds run out then that means that nine million disabled folks will see a 20 percent cut in benefits while another 2 million dependants will be impacted just the same.
Stressful, isn’t it? Read more at Reuters.
Do you have a back-up plan in case you aren’t seeing your full retirement Social Security funds? Let us know what you’re going to do.
|Kenneth G. Marks has been practicing personal injury law since he was admitted to the California Bar in 1981. www.KmarksLaw.com|