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The "Social Security Trust Fund" comprises two separate funds that hold federal government debt obligations related to what are traditionally thought of as Social Security benefits. The larger of these funds is the Old-Age and Survivors Insurance (OASI) Trust Fund, which holds in trust special interest-bearing federal government securities ...
When it operates at a deficit, as it has in recent years, it redeems asset reserves held in the trust funds. Section 201 of the Social Security Act requires that the money in the trust funds be ...
This debt mainly represents obligations to Social Security recipients and retired federal government employees, including military. In the United States, intragovernmental holdings are primarily composed of the Medicare trust funds, the Social Security Trust Fund, and Federal Financing Bank securities. A small amount of marketable securities ...
Another option would be for Congress to raise the Social Security payroll tax rate from its current 12.4% to 15.6% following the trust fund depletion, and then gradually increase it to 16.7% by 2095.
Who is eligible to roll over their excess 529 plan funds? ... The $ 22,924 Social Security bonus most retirees completely overlook. If you're like most Americans, you're a few years (or more ...
Thus, the Social Security Trust Fund indirectly finances the federal government's general purpose deficit spending. In 2007, the cumulative excess of Social Security taxes and interest received over benefits paid stood at $2.2 trillion. [91] Some regard the Trust Fund as an accounting construct with no economic significance.