Trust funds (21 - 30 of 34 items)
Social Security: Analysis of a Proposal to Privatize Trust Fund Reserves
HRD-91-22: Published: Dec 12, 1990. Publicly Released: Jan 11, 1991.
Pursuant to a congressional request, GAO reviewed a congressional proposal to create a new system of Individual Social Security Retirement Accounts (ISSRA), in which workers could place accumulated social security reserves for private-sector investment.GAO found that: (1) the proposal's effect on national saving was unclear; (2) ISSRA could be integrated with the existing progressive benefit struc...
The Question of Rolling Back the Payroll Tax: Unmasking the Deficit Illusion
T-HRD-90-10: Published: Feb 5, 1990. Publicly Released: Feb 5, 1990.
GAO discussed a congressional proposal to decrease the Social Security payroll tax. GAO noted that: (1) the use of Social Security surpluses to decrease the federal budget deficit masks the fundamental budget deficit problem and encourages avoidance of difficult fiscal choices needed to reduce the general fund deficit; (2) the congressional proposal would not decrease Social Security benefits; (3)...
The Social Security Notch Issue
T-HRD-89-2: Published: Jan 23, 1989. Publicly Released: Jan 23, 1989.
GAO discussed its and the National Academy of Social Insurance's studies of the social security notch issue. GAO found that: (1) benefit differences arose between retiree groups of similar ages because a problem with the benefit formula instituted in 1972 led to higher benefits than expected; (2) in 1977, Congress set the replacement rate for an average earner retiring at age 65 at about 42 percen...
Social Security Funds: Additional Measures Could More Fully Indicate the System's Financial Condition
PEMD-88-11: Published: Feb 5, 1988. Publicly Released: Feb 5, 1988.
GAO developed actuarial measures that the Social Security Administration (SSA) could use to document the financial condition of the combined Old-Age Survivors and Disability Insurance (OASDI) Trust Fund.GAO found that: (1) the 1987 SSA trustees' report to Congress indicated that the OASDI Trust Fund was in close actuarial balance, since expenditures were within 5 percent of income averaged over th...
The Social Security Wild Card
137892: Jan 1, 1988
This article, which appeared in the GAO Journal, No. 4, Winter 1988, discusses maintaining the Social Security Program and Trust Fund surpluses. As a result of increases in payroll taxes, the Trust Fund is now building a surplus at a rate exceeding $100 million daily. However, in implementing deficit-reduction legislation, Congress used the Trust Fund to mask the actual budget deficit. Continued u...
Railroad Retirement: Federal Financial Involvement
HRD-86-88: Published: May 9, 1986. Publicly Released: Jun 7, 1986.
Pursuant to a congressional request, GAO: (1) presented an inventory and description of past and present federal financial assistance to the Railroad Retirement Board (RRB) retirement and unemployment programs; and (2) showed how much assistance would be needed under current laws to continue the federal government's unique relationship with these programs.GAO found that: (1) federal government inv...
Disinvestment of the Social Security Trust Funds
129131: Feb 18, 1986
Testimony was given concerning specific issues and options associated with the disinvestment of social security trust funds. GAO noted that, when the Department of the Treasury's cash accounts lack sufficient funds to pay both social security benefits and other obligations and borrowing authority is limited or nonexistent, the Secretary is forced to either violate the investment requirements of th...
Treasury's Management of Social Security Trust Funds During the Debt Ceiling Crises
HRD-86-45: Published: Dec 5, 1985. Publicly Released: Dec 17, 1985.
In response to a congressional request, GAO gave its opinion on the legality and propriety of the Secretary of the Treasury's management of the social security trust funds during the October 1984, and September to November 1985, public debt ceiling crises.GAO found that: (1) although some of the Secretary's actions appeared to have been in violation of legislative requirements, the Secretary acted...
[Social Security: Historical Development and Current Structure, Benefits, and Contributions]
124148: Apr 17, 1984
GAO discussed the key elements of the social security system. The Social Security Act of 1935 created a variety of new economic security programs including: (1) a national program of needs-based benefits for the aged; and (2) the Old-Age Insurance Program which is the cornerstone of today's social security program. The needs-based program was built on pre-existing State programs for which the Fede...
Social Security Actuarial Projections
HRD-83-92: Published: Sep 30, 1983. Publicly Released: Sep 30, 1983.
This study examined past Social Security Administration (SSA) actuarial projections of the future long-range financial status of the old-age, survivors, and disability insurance (OASDI) trust funds. The study focused on the integrity of the demographic and economic assumptions, the actuarial methods, and the actuaries' professional independence.The evidence gathered neither proved nor disproved th...