The 2018 Social Security Trustees Report
The Trustees have released their 2018 report on the financial status of Social Security, a critical program relied upon by more than 62 million Americans for income during their retirement or disability. The good news is that things have not worsened since last year’s report and, in fact, the forecast for depletion of the Disability Insurance Trust Fund has actually improved by 4 years to 2032. The combined OAS/DI Trust Funds financial position as of the end of 2017 improved by $44 billion to result in a total reserve of $2.89 trillion. However, depletion of the Old Age and Survivors Trust Fund is still forecast to occur in 2034 unless Congress takes action soon to resolve Social Security’s current financial issues.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.
Click here to read Social Security’s Press Release summarizing the 2018 Trustees Report.