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Blog

  • As regular readers of SS&Y are aware, the Social Security Administration administers 2 trust funds. The Old Age Survivors Insurance (OAS’) fund pays retirement benefits. The Disability Insurance fund (DI) pays disability benefits. When Congress passed and President Obama signed the Bipartisan Budget Act in November of 2015 to reallocate current contributions between the OASI…

    6+ months ago
  • The Social Security Administration has announced there will be no Cost of Living Adjustment in 2016 for the nearly 65 million Americans drawing Social Security disability, retirement or SSI benefits.  This is because there was no inflation between the third quarter of 2014 and 2015 as measured by the Consumer Price Index for Urban Wage…

    2+ years ago

News

  • Spring-Summer 2015 Newsletter SSDI Insolvency Looms We’ve known it’s been coming for some time and now it’s on our doorstep. Unless Congress acts the Social Security Disability Insurance Trust Fund (DI Trust Fund) will become insolvent late next year and unable to pay full benefits any longer. Millions of Americans who rely on their disability checks for most, if not all,…

    2+ years ago
  • Fall 2014 Newsletter OBAMACARE UPDATE On October 1st it will have been a year since enrollment began in the Affordable Care Act national health insurance program known as Obamacare. The difficulties in the early weeks and months have been well documented. But where are we a year later… Read the Newsletter in PDF format.   Read the Newsletter in PDF…

    2+ years ago

WHAT ARE THEY THINKING?

In the face of dire forecasts over the future of the Social Security Retirement, Survivor and Disability trust funds the Congress passed in early February and President Obama signed legislation that will extend through the end of 2012 the “temporary” Social Security payroll tax deduction designed to help the nation get out of recession.

The 2% reduction in the employee’s portion of the 6.4% Social Security payroll tax to 4.4% on income up to $110,100 is continued from 2011. Above that amount only the Medicare payroll tax is deducted from earned income. The employer’s portion is still the full 6.4%.

The Disability Insurance Trust Fund is now estimated to be insolvent by 2017. The Old Age, Survivor’s and Disability Trust Fund will be insolvent, without changes, in 2018. The estimates on the exhaustion of the two Trust Funds vary but full benefits are expected to be paid through 2027 & 2028, respectively.

So it especially ironic that in the name of fiscal responsibility the solvency of the Social Security system is being sabotaged by our elected leaders of both parties, especially when politics seems to have trumped bi-partisanship in virtually every other area.

Election year politics over rules common sense.

Call today if you have questions about the Michigan Social Security Disability Attorney and Lawyer Services provided by William Crawforth.

To schedule an appointment call 800-864-1244 or fill out the contact form at the top of this page.

  • State Bar of Michigan
  • Washtenaw County Bar Association
  • National Organization of Social Security Claimants' Representatives

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