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Will Fixing Social Security Hurt Your Retirement?
(By – Casey Dowd, www.foxbusiness.com)
The Old-Age and Survivors insurance (OASI) and the Disability Insurance (DI) together make up what is known as the Social Security Trust Funds. Our Social Security retirement benefits are paid from the OASI Trust Fund, while benefits to disabled workers are paid from the DI Trust Fund. If the Social Security disability trust fund runs out of money in late 2016, the 11 million people receiving DI benefits could face a big reduction in their monthly benefits. And if Congress makes a move to subsidize the disability fund with money from the retirement fund, it could have a long term negative impact on the Social Security program. Read more…