Beneficiaries (1 - 10 of 134 items)
Social Security Offsets: Improvements to Program Design Could Better Assist Older Student Loan Borrowers with Obtaining Permitted Relief
GAO-17-45: Published: Dec 19, 2016. Publicly Released: Dec 20, 2016.
Older borrowers (age 50 and older) who default on federal student loans and must repay that debt with a portion of their Social Security benefits often have held their loans for decades and had about 15 percent of their benefit payment withheld. This withholding is called an offset. GAO's analysis of characteristics of student loan debt using data from the Departments of Education (Education), Tre...
Social Security: Improvements to Claims Process Could Help People Make Better Informed Decisions about Retirement Benefits
GAO-16-786: Published: Sep 14, 2016. Publicly Released: Sep 14, 2016.
GAO's review of nine surveys and academic studies, and interviews with retirement experts, suggest that many individuals do not fully understand key details of Social Security rules that can potentially affect their retirement benefits. For example, while some people understand that delaying claiming leads to higher monthly benefits, many are unclear about the actual amount that benefits increase...
Disability Insurance: SSA Needs to Better Track Efforts and Evaluate Options to Recover Debt and Deter Potential Fraud
GAO-16-331: Published: Apr 13, 2016. Publicly Released: Apr 13, 2016.
In fiscal year 2015, the Social Security Administration (SSA) recovered $857 million in Disability Insurance (DI) overpayments that it erroneously made to beneficiaries; however, SSA is missing opportunities to recover more. More than three-fourths of the recovered overpayments in fiscal year 2015 were collected by withholding all or a portion of a beneficiary's monthly benefits. SSA's policy is t...
Disability Insurance: SSA Could Do More to Prevent Overpayments or Incorrect Waivers to Beneficiaries
GAO-16-34: Published: Oct 29, 2015. Publicly Released: Oct 29, 2015.
From fiscal years 2005 through 2014, GAO found that Social Security Administration (SSA) overpaid $11 billion in Disability Insurance (DI) program benefits to beneficiaries who had returned to work and had earnings above program limits, and about $1.4 billion in overpayments related to work activity was waived—because the beneficiary was found not at fault—and therefore will not be repaid. SSA...
Disability Insurance: Preliminary Observations on Overpayments and Beneficiary Work Reporting
GAO-15-673T: Published: Jun 16, 2015. Publicly Released: Jun 16, 2015.
Over the last decade, preliminary data provided by the Social Security Administration (SSA) indicate that more than half of the $20 billion overpaid in the Disability Insurance (DI) program was associated with beneficiary work activity. Specifically, SSA's data indicate that between fiscal years 2005 and 2014, a total of $11 billion in DI overpayments were paid to beneficiaries with work earnings...
Disability Compensation: Review of Concurrent Receipt of Department of Defense Retirement, Department of Veterans Affairs Disability Compensation, and Social Security Disability Insurance
GAO-14-854R: Published: Sep 30, 2014. Publicly Released: Oct 30, 2014.
GAO’s analysis showed that 59,251 individuals received concurrent payments from Department of Defense (DOD) retirement, Department of Veterans Affairs (VA) disability, and Social Security Disability Insurance (SSDI) in fiscal year 2013 totaling over $3.5 billion. Current law generally allows military personnel to receive concurrent disability compensation from DOD, VA, and SSDI. There were 1.9...
Social Security Death Data: Additional Action Needed to Address Data Errors and Federal Agency Access
GAO-14-46: Published: Nov 27, 2013. Publicly Released: Dec 27, 2013.
The Social Security Administration (SSA) receives death reports from multiple sources, including state vital records agencies (states), family members, and other federal agencies to create its set of death records. In accordance with the Social Security Act (Act), SSA shares its full set of death data with certain agencies that pay federally-funded benefits, for the purpose of ensuring the accurac...
SSA Representative Payee Program: Addressing Long-Term Challenges Requires a More Strategic Approach
GAO-13-473: Published: May 29, 2013. Publicly Released: Jun 5, 2013.
The Social Security Administration (SSA) struggles to effectively administer its Representative Payee Program, despite steps taken to address its challenges in identifying, selecting, and monitoring representative payees. For example, due to increasing workloads and staff attrition, SSA field office managers in some offices said they sometimes have to perform payee program duties that lower level...
Private Pensions: Multiemployer Plans and PBGC Face Urgent Challenges
GAO-13-428T: Published: Mar 5, 2013. Publicly Released: Mar 5, 2013.
The most severely distressed multiemployer plans have taken significant steps to address their funding problems and, while most plans expected improved financial health, some did not. A survey conducted by a large actuarial and consulting firm serving multiemployer plans suggests that the majority of the most severely underfunded plans--those designated as being in critical status--developed plans...
Retirement Security: Annuities with Guaranteed Lifetime Withdrawals Have Both Benefits and Risks, but Regulation Varies across States
GAO-13-75: Published: Dec 10, 2012. Publicly Released: Jan 9, 2013.
Annuities with guaranteed lifetime withdrawals can help older Americans ensure they do not outlive their assets, but do present some risks to consumers. Two such products, variable annuities with guaranteed lifetime withdrawal benefits (VA/GLWB) and contingent deferred annuities (CDA), share a number of features but have some important structural differences. For example, both provide consumers wi...