2035 is the year officials have targeted as the end of Social Security. This means that it’s time for decisions to be made.
But 2016 is the year they have to set their eyes on and quick: Social Security Disability Insurance is in the red. Both SSDI and Old-Age & Survivors (OAS) share a funding source: payroll tax. The way things are going SSDI’s trust fund will be gone in 2016. That means 20 percent cuts in benefits to nine million disabled beneficiaries and an additional 2 million dependants.
Another issue that’s been brought up regarding SSDI is that payments were being handed out to people who never paid into the system initially.
Who qualifies? Where does money need to be reallocated? What does Congress need to do? Share below.
Read more at Reuters.
|Kenneth G. Marks has been practicing personal injury law since he was admitted to the California Bar in 1981. www.KmarksLaw.com|