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.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.