top of page

Caring Conversation | Social Security Turns 88

Caring Conversation

Social Security Turns 88!


What does every person wish for on their birthday? Another birthday! Social Security turned 88 on 8/14/23.


If Social Security is a major contributor to the success of your or your parents’ retirement plan, let’s hope SS gets its wish for many years to come. 


According to the 2023 Annual Report posted by the US Census Bureau, At the end of 2022, the OASDI program was providing benefit payments to about 66 million people: 51 million retired workers and dependents of retired workers, 6 million survivors of deceased workers, and 9 million disabled workers and dependents of disabled workers. 


Under intermediate assumptions, the projected hypothetical combined OASI and DI Trust Fund asset reserves become depleted and unable to pay scheduled benefits in full on a timely basis in 2034. At the time of depletion of these combined reserves, continuing income to the combined trust funds would be sufficient to pay 80 percent of scheduled benefits. 


The OASI Trust Fund reserves are projected to become depleted in 2033, at which time OASI income would be sufficient to pay 77 percent of OASI scheduled benefits.



Lawmakers have a broad continuum of policy options that would close or reduce Social Security's long-term financing shortfall. Estimates for many such policy options are available at ssa.gov/OACT/solvency/provisions/. 


Let’s hope future Social Security birthdays reflex options that close the shortfall.


Therefore to help you learn more...

I'm gifting, to you, a copy this Amazon Best Seller Book.


To get your copy of "How Not To Pull Your Family Apart", as my gift to you, simply drop me a note below with your name and information.


Or, if you prefer to contact me directly, either send me by email, text or call me. My contact information is located in the footer of this page. I'll respond within 24 hours, it not sooner.



Regards,

Caring Conversation | Social Security Turns 88
Arnetta photo6_edited_edited.png
Logo_edited.png
Logo_edited.png

Business * Medical * Financial Security

DESIGNED AND IMPLEMENTED FOR BEAUTY ENTREPRENEUR PROFESSIONALS

Powered by InVibe Software

Dr. Arnetta

Rogers

FB.png
LinkedIn.png
YouTube.png
Instagram.jpg
mybmfsolutions-logo-1-1024x388.jpg

By providing contact information, a licensed agent/agency may contact you.
Any voluntarily submitted or collected information is used solely for the purpose of insurance underwriting and price quotes 
and not sold or used for any other marketing or solicitation purpose.

Not affiliated with CMS, Medicare or any other federal and state agency. Content on this site is not intended to provide legal, accounting or tax advice.

Consult your legal, tax accountant, financial and insurance professional for more advice.

 

Licensed States

Maryland and most other states.

Resident State License #

NPR # 18318529 (MD) # 3000070308

bottom of page