What Happens if the SSD Trust Fund Runs Dry?

What Happens if the SSD Trust Fund Runs Dry?

The Social Security Disability trust fund is set to run out of money sometime in 2016, according to reports by the Social Security trustees. At that time, individuals who are receiving Social Security disability benefits (which includes both Social Security disability income (SSDI) and Supplemental Security Income (SSI) benefits) as well as individuals who apply for benefits will likely encounter a Social Security disability program that looks significantly different from the program today.

What Does It Mean When They Say the Trust Fund Will “Run Dry”?

Social Security disability payments are paid out of a specially designated trust fund (there is a separate and distinct trust fund for Social Security retirement benefits). Beneficiaries are presently paid benefits as a result of contributions made by current workers and the money available in the trust fund.

When trustees and other government officials say the trust fund will “run dry,” what they are indicating is that the fund will no longer have enough money to continue making payments to beneficiaries at the current level. Beneficiaries will still be able to receive some measure of benefits because of the contributions that are received from workers; however, these contributions will not be sufficient to continue paying beneficiaries the benefits they currently receive.

What Can I Expect if the Trust Fund Runs Dry?

Politicians in Washington, D.C. have until next year to decide how to respond to this situation. Some have suggested that the disability trust fund should be replenished using funds from other sources, including the retirement trust fund. This would keep the disability trust fund solvent for an additional period of time.

If politicians do not take action, current Social Security disability beneficiaries can expect to see their disability benefits cut. Some estimates show that current contributions can fund 81% of current benefits payments; thus, a current beneficiary receiving $1,000 in monthly benefits may see his or her benefits cut by about $190 per month (leaving the beneficiary with a monthly benefits check of $810). Individuals who are not presently receiving benefits but who would apply for benefits after the trust fund runs dry can likewise expect that, if approved, the benefits they would receive would be less than benefits similarly-situated applications would have expected to receive in the past.

What Do I Need to Do?

Beneficiaries and those anticipating receiving benefits in the near future can lobby their members of Congress and other federal lawmakers and encourage them to find a lasting solution to the trust fund’s monetary problems. Without a congressional solution, it is highly unlikely that benefits payments will continue at their present levels.

Our Social Security disability attorneys can also help. At the Klok Law Firm LLC, we keep abreast of changes to the Social Security disability program and are able to advise you as to the benefits new applicants are likely to receive if their claim is approved. If you live in South Carolina, we can help you plan for the future if you are no longer able to work. Contact our office or call us at (843) 216-8860 and schedule a free initial consultation today.

29 Comments
  • minecraft
    Posted at 08:08h, 04 October

    Whats up are using WordPress for your site platform?
    I’m new to the blog world but I’m trying to get started
    and create my own. Do you need any coding knowledge to make
    your own blog? Any help would be greatly appreciated!

  • minecraft
    Posted at 19:39h, 04 October

    I’ve been browsing online more than 4 hours today, yet I
    never found any interesting article like yours. It’s pretty worth enough for me.
    In my view, if all web owners and bloggers made good content
    as you did, the web will be a lot more useful than ever before.

  • minecraft
    Posted at 19:09h, 05 October

    You’ve made some good points there. I looked on the web to learn more about the issue and found
    most people will go along with your views on this
    website.

  • minecraft
    Posted at 23:41h, 05 October

    Hey there I am so glad I found your web site, I really found you by
    error, while I was searching on Yahoo for something else, Anyways I am here now and would just like to say kudos for a remarkable
    post and a all round thrilling blog (I also love the theme/design),
    I don’t have time to browse it all at the minute but I have bookmarked it and also added in your RSS feeds, so when I have time I
    will be back to read a great deal more, Please do keep up the superb b.

  • minecraft
    Posted at 17:49h, 06 October

    Wow, that’s what I was looking for, what a stuff!

    present here at this blog, thanks admin of this website.

  • minecraft free download 2018
    Posted at 10:05h, 08 October

    Thank you for sharing your info. I really appreciate your efforts and I will be
    waiting for your next write ups thanks once again.

  • minecraft free download 2018
    Posted at 09:46h, 09 October

    You are so cool! I do not suppose I have read through anything like this before.
    So good to find somebody with some genuine thoughts on this issue.
    Really.. many thanks for starting this up. This website is something that’s needed on the web, someone with a bit of originality!

  • minecraft free download 2018
    Posted at 19:56h, 09 October

    I would like to thank you for the efforts you have put in writing this blog.
    I am hoping to view the same high-grade content from you in the future
    as well. In truth, your creative writing abilities has inspired
    me to get my own, personal website now 😉

  • minecraft free download 2018
    Posted at 10:26h, 10 October

    Thanks for sharing such a nice idea, post is pleasant,
    thats why i have read it entirely

  • minecraft free download 2018
    Posted at 11:40h, 11 October

    WOW just what I was searching for. Came here by searching for minecraft free download 2018

  • minecraft free download 2018
    Posted at 13:27h, 11 October

    Hey there terrific website! Does running a blog similar to this take a great deal of
    work? I’ve absolutely no understanding of computer programming however I had been hoping to start
    my own blog soon. Anyways, should you have any recommendations or techniques for new blog owners please share.
    I know this is off topic but I just needed to ask.

    Kudos!

  • Benefits of Coconut Oil
    Posted at 20:13h, 21 October

    Pretty nice post. I just stumbled upon your blog and wished to
    say that I’ve truly enjoyed browsing your blog posts.
    In any case I’ll be subscribing to your feed and I hope you write again soon!

  • Health Benefits of Coconut Oil
    Posted at 12:58h, 23 October

    The other day, while I was at work, my cousin stole my apple ipad and tested to see if it can survive a
    25 foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she
    has 83 views. I know this is entirely off topic but I had to share it with someone!

  • Health Benefits of Coconut Oil
    Posted at 01:06h, 25 October

    Wonderful article! This is the type of information that are
    meant to be shared across the net. Shame on Google for no longer positioning this submit higher!
    Come on over and consult with my web site . Thanks =)

  • Coconut Oil Benefits
    Posted at 18:04h, 25 October

    Unquestionably believe that that you said. Your favorite reason seemed to be at
    the internet the simplest thing to remember of. I say
    to you, I definitely get irked whilst other people consider issues that they just don’t understand about.
    You managed to hit the nail upon the top and defined out the
    whole thing with no need side-effects , other folks could take a signal.

    Will likely be back to get more. Thanks

  • Health Benefits of Coconut Oil
    Posted at 05:28h, 28 October

    What’s up everybody, here every one is sharing these know-how,
    so it’s nice to read this web site, and I used to go to see this
    webpage every day.

  • 醫學美容-修復-明色-cosmetic-wiki
    Posted at 06:54h, 28 October

    [溪頭密室脫逃] 妖怪村密室逃脫心得 沉默之鏡 – 小婷懶骨頭記事~ – FashionGuide 華人時尚專業評鑑 哈哈!!!大家看到我在溪頭打卡居然還是再玩密室脫逃都問我是不是到哪都要脫逃…,

  • Health Benefits of Coconut Oil
    Posted at 13:55h, 29 October

    When someone writes an post he/she retains the thought of a user in his/her brain that how a user
    can be aware of it. So that’s why this piece of writing
    is outstdanding. Thanks!

  • Benefits of Coconut Oil
    Posted at 07:19h, 30 October

    I am really happy to glance at this weblog posts which contains tons
    of helpful information, thanks for providing such statistics.

  • http://twitter.com/descargar_hq
    Posted at 07:25h, 02 November

    Descargar facebook
    I couldn’t resist commenting. Very well written! Descargar facebook

  • quest bars cheap
    Posted at 15:02h, 03 November

    That is a great tip particularly to those new to the blogosphere.
    Brief but very precise information… Many thanks for sharing this
    one. A must read article!

  • quest bars cheap
    Posted at 02:41h, 04 November

    Spot on with this write-up, I honestly believe that this web site needs a great deal more attention. I’ll probably be back again to
    see more, thanks for the advice!

  • Quest Protein Bars
    Posted at 17:26h, 06 November

    hello there and thank you for your info – I’ve certainly picked up anything
    new from right here. I did however expertise some technical
    points using this site, as I experienced to reload the
    website a lot of times previous to I could get it to
    load correctly. I had been wondering if your web host is OK?
    Not that I’m complaining, but slow loading instances times will sometimes affect your placement
    in google and can damage your high quality score if advertising and
    marketing with Adwords. Well I am adding this RSS to my e-mail and can look out for much more of your respective intriguing content.
    Ensure that you update this again very soon.

  • Quest Bars Cheap
    Posted at 01:50h, 07 November

    Informative article, exactly what I wanted to find.

  • Football Solutions Futsal Champions League - Mostar
    Posted at 13:45h, 09 November

    The stayaway fans proved to be shrewd judges as the Republic of Ireland and Croatia played out a drab goalless draw in Dublin on Wednesday night. Republic of Ireland 0 Croatia 0: Drab Dublin stalemate extends Ireland’s unbeaten run to five games

  • What Equipment is Needed for Sling TV
    Posted at 01:55h, 10 November

    Thanks for sharing your thoughts on What Equipment is Needed for Sling TV.
    Regards

  • What Equipment is Needed for Sling TV
    Posted at 09:48h, 11 November

    Its like you learn my thoughts! You appear to grasp so much
    approximately this, like you wrote the ebook in it or something.
    I think that you can do with a few percent to power the
    message house a little bit, however other than that, that is
    magnificent blog. An excellent read. I’ll certainly be back.

  • Sling TV
    Posted at 06:18h, 12 November

    Please let me know if you’re looking for a author for your blog.
    You have some really great posts and I think I would be a good asset.
    If you ever want to take some of the load off, I’d really like to write some articles for your blog in exchange
    for a link back to mine. Please shoot me an email if interested.
    Many thanks!

  • What Equipment is Needed for Sling TV
    Posted at 01:57h, 13 November

    Greetings! I’ve been following your weblog for
    a while now and finally got the bravery to go ahead and give you a shout out from Kingwood Tx!
    Just wanted to mention keep up the fantastic work!

Post A Comment