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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 ...
In 2022, the Social Security trust funds collected $1.22 trillion in revenue. Of that, about 90 percent came from payroll taxes and 4 percent came from taxes collected on Social Security benefits .
Social Security payroll taxes are collected by the federal Internal Revenue Service (IRS) and are formally entrusted to the Federal Old-Age and Survivors Insurance (OASI) Trust Fund and the federal Disability Insurance (DI) Trust Fund, the two Social Security Trust Funds. [8] [9] Social Security revenues exceeded expenditures between 1983 and ...
So, even if the trust fund is depleted in 2035, two sources of financing (representing 95% of revenues) will be unaffected, meaning there is no chance Social Security will run out of funding.
The report includes details on everything from the state of Social Security's trust funds to projected COLAs to the program's operating costs and more. ... Higher COLAs mean the SSA has to pay out ...
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 ...
Social Security still had over $2.78 trillion in its trust fund reserves at the beginning of 2024. This money is crucial for helping the government cover benefits above what it takes in annually ...
The biggest problem plaguing Social Security. Social Security is a complex program, and one of the more confusing aspects is the financial state of its trust funds: the Old-Age and Survivors ...
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