Trust funds (1 - 10 of 29 items)
Social Security Statements: Observations on SSA's Plans for the Social Security Statement
GAO-11-787T: Published: Jul 8, 2011. Publicly Released: Jul 8, 2011.
The Social Security Statement (the statement) is the federal government's main document for communicating with more than 150 million workers about their Social Security benefits. Provided annually, it serves as a key financial literacy tool that can educate the public about Social Security Administration (SSA) program benefits, aid in financial planning, and ensure that workers' earnings records a...
Social Security Reform: Issues for Disability and Dependent Benefits
GAO-08-26: Published: Oct 26, 2007. Publicly Released: Nov 26, 2007.
Many recent Social Security reform proposals to improve program solvency include elements that would reduce benefits currently scheduled for future recipients. To date, debate has focused primarily on the potential impact on retirees, with less attention to the effects on other Social Security recipients, such as disabled workers and dependents. As these beneficiaries may have fewer alternative so...
Social Security: Long-Term Challenges Warrant Early Action
GAO-05-303T: Published: Feb 3, 2005. Publicly Released: Feb 3, 2005.
Social Security is the foundation of the nation's retirement income system, helping to protect the vast majority of American workers and their families from poverty in old age. However, it is much more than a retirement program and also provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires and as Americans continue...
Social Security: Reform Proposals Could Have a Variety of Effects on Distribution of Benefits and Payroll Taxes
GAO-04-872T: Published: Jun 15, 2004. Publicly Released: Jun 15, 2004.
Under the current Social Security benefit formula, retired workers can receive benefits at age 65 that equal about 50 percent of preretirement earnings for an illustrative low-wage worker but only about 30 percent for an illustrative high-wage worker. Factors other than earnings also influence the distribution of benefits, including the program's provisions for disabled workers, spouses, children,...
Social Security: Proposed Totalization Agreement with Mexico Presents Unique Challenges
GAO-03-993: Published: Sep 30, 2003. Publicly Released: Sep 30, 2003.
Totalization agreements foster international commerce, protect benefits for persons who have worked in foreign countries, and eliminate dual social security taxes that employers and their employees pay when they operate and reside in countries with parallel social security systems. Because Mexicans are believed to represent a large share of the millions of unauthorized workers present in the Unite...
Social Security Reform: Analysis of a Trust Fund Exhaustion Scenario
GAO-03-907: Published: Jul 29, 2003. Publicly Released: Jul 29, 2003.
Social Security is an important social insurance program affecting virtually every American family. It is the foundation of the nation's retirement income system and also provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires, Social Security's financing shortfall presents a major solvency and sustainability challen...
Social Security Reform: Analysis of a Trust Fund Exhaustion Scenario Illustrates the Difficult Choices and the Need for Early Action
GAO-03-1038T: Published: Jul 29, 2003. Publicly Released: Jul 29, 2003.
Social Security is an important social insurance program affecting virtually every American family. It is the foundation of the nation's retirement income system and also provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires, Social Security's financing shortfall presents a major program solvency and sustainability...
Social Security and Minorities: Earnings, Disability Incidence, and Mortality Are Key Factors That Influence Taxes Paid and Benefits Received
GAO-03-387: Published: Apr 23, 2003. Publicly Released: Apr 23, 2003.
Although Social Security's benefit and contribution provisions are neutral with respect to race, ethnicity, and gender, concerns about the experiences of minority groups under Social Security focus on whether they benefit less than whites, particularly because of the shorter life expectancy of blacks. These concerns are related to the concept of equity, or how benefits compare with taxes. To gain...
Social Security: Long-Term Financing Shortfall Drives Need for Reform
GAO-02-845T: Published: Jun 19, 2002. Publicly Released: Jun 19, 2002.
Social Security not only represents the foundation of our retirement income system; it also provides millions of Americans with disability insurance and survivor's benefits. Although the Social Security Trustees now project that under the intermediate or "best estimate" assumptions the combined Social Security Trust Funds will be exhausted 3 years later than in last year's estimates, the magnitude...
Social Security Reform: Information on the Archer-Shaw Proposal
AIMD/HEHS-00-56: Published: Jan 19, 2000. Publicly Released: Feb 4, 2000.
Pursuant to a congressional request, GAO provided information on the Archer-Shaw Social Security reform proposal, focusing on: (1) the extent to which the proposal achieves sustainable solvency and how it would affect the U.S. economy and the federal budget; (2) the balance struck between the twin goals of income adequacy (level and certainty of benefits) and individual equity (rates of return on...