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Jan 28, 2015
Jan 27, 2015
Final 2014 Numbers On Disability Insurance Trust Fund: What Do They Portend?
Assets | ||||
---|---|---|---|---|
Calendar year |
Total receipts |
Total expenditures |
Net increase during year |
Assets at end of year |
1957 | $709 | $59 | $649 | $649 |
1958 | 991 | 261 | 729 | 1,379 |
1959 | 931 | 485 | 447 | 1,825 |
1960 | 1,063 | 600 | 464 | 2,289 |
1961 | 1,104 | 956 | 148 | 2,437 |
1962 | 1,114 | 1,183 | -69 | 2,368 |
1963 | 1,165 | 1,297 | -133 | 2,235 |
1964 | 1,218 | 1,407 | -188 | 2,047 |
1965 | 1,247 | 1,687 | -440 | 1,606 |
1966 | 2,079 | 1,947 | 133 | 1,739 |
1967 | 2,379 | 2,089 | 290 | 2,029 |
1968 | 3,454 | 2,458 | 996 | 3,025 |
1969 | 3,792 | 2,716 | 1,075 | 4,100 |
1970 | 4,774 | 3,259 | 1,514 | 5,614 |
1971 | 5,031 | 4,000 | 1,031 | 6,645 |
1972 | 5,572 | 4,759 | 813 | 7,457 |
1973 | 6,443 | 5,973 | 470 | 7,927 |
1974 | 7,378 | 7,196 | 182 | 8,109 |
1975 | 8,035 | 8,790 | -754 | 7,354 |
1976 | 8,757 | 10,366 | -1,609 | 5,745 |
1977 | 9,570 | 11,945 | -2,375 | 3,370 |
1978 | 13,810 | 12,954 | 856 | 4,226 |
1979 | 15,590 | 14,186 | 1,404 | 5,630 |
1980 | 13,871 | 15,872 | -2,001 | 3,629 |
1981 | 17,078 | 17,658 | -580 | 3,049 |
1982 | 22,715 | 17,992 | -358 | 2,691 |
1983 | 20,682 | 18,177 | 2,505 | 5,195 |
1984 | 17,309 | 18,546 | -1,237 | 3,959 |
1985 | 19,301 | 19,478 | 2,363 | 6,321 |
1986 | 19,439 | 20,522 | 1,459 | 7,780 |
1987 | 20,303 | 21,425 | -1,122 | 6,658 |
1988 | 22,699 | 22,494 | 206 | 6,864 |
1989 | 24,795 | 23,753 | 1,041 | 7,905 |
1990 | 28,791 | 25,616 | 3,174 | 11,079 |
1991 | 30,390 | 28,571 | 1,819 | 12,898 |
1992 | 31,430 | 32,004 | -574 | 12,324 |
1993 | 32,301 | 35,662 | -3,361 | 8,963 |
1994 | 52,841 | 38,879 | 13,962 | 22,925 |
1995 | 56,696 | 42,055 | 14,641 | 37,566 |
1996 | 60,710 | 45,351 | 15,359 | 52,924 |
1997 | 60,499 | 47,034 | 13,465 | 66,389 |
1998 | 64,357 | 49,931 | 14,425 | 80,815 |
1999 | 69,541 | 53,035 | 16,507 | 97,321 |
2000 | 77,920 | 56,782 | 21,138 | 118,459 |
2001 | 83,903 | 61,369 | 22,534 | 140,993 |
2002 | 87,379 | 67,905 | 19,475 | 160,468 |
2003 | 88,074 | 73,108 | 14,966 | 175,434 |
2004 | 91,380 | 80,597 | 10,783 | 186,217 |
2005 | 97,423 | 88,018 | 9,405 | 195,623 |
2006 | 102,641 | 94,456 | 8,185 | 203,808 |
2007 | 109,854 | 98,778 | 11,076 | 214,884 |
2008 | 109,840 | 108,951 | 889 | 215,773 |
2009 | 109,283 | 121,506 | -12,223 | 203,550 |
2010 | 104,017 | 127,660 | -23,643 | 179,907 |
2011 | 106,276 | 132,332 | -26,056 | 153,850 |
2012 | 109,115 | 140,299 | -31,184 | 122,666 |
2013 | 111,228 | 143,450 | -32,221 | 90,445 |
2014 | 114,858 | 145,060 | -30,201 | 60,244 |
The crucial question is what happens in the next two years. There was modest improvement in the rate at which the Disability Trust Fund went down in 2014 over 2013. Was it just a blip or a sign of things to come. The number actually drawing Disability Insurance Benefits stabilized in 2014 and was heading down in the last three months of the year. Was 2014 an inflection point? If so, how much of an inflection point?
Labels:
Disability Trust Fund
Congressmen Want Bipartisan Social Security Commission
From TPM:
Reps. Tom Cole (R-OK) and John Delaney (D-MD) plan to introduce a bill this Congress that would create a Social Security commission to propose changes to the program, Cole's office confirmed to TPM on Monday.
The bill's language and timing has not been finalized, but Cole, a close ally of House Speaker John Boehner (R-OH), and Delaney co-sponsored similar legislation last year. ...
Last year's bill would have created a 13-member commission to produce recommendations to keep Social Security solvent for 75 years. If tax revenue were transferred from the retirement to the disability fund to avoid the 2016 benefits cliff for the latter program, both funds are projected to start running out of money in 2033.
One member would have been appointed by the president, and each caucus leader in Congress would have picked three members, under last year's bill. They would be tasked with issuing recommendations to Congress one year after the commission's creation. Those recommendations, if approved by nine of the commission's 13 members, would then be expedited to the House floor for a vote, with no amendments allowed.
Cole outlined to The Hill some of the proposals that he thought the commission would recommend.
“The commission would probably gradually raise retirement age, it would probably look at chained CPI, would probably look at means-testing and probably look at some sort of revenue, or reduce benefits for upper-income people,” he said. “Then you have to vote.” ...This just looks like Republicans looking for bipartisan cover for benefit cuts. There's no reason for Democrats to cooperate with this. Republicans are in the majority in both houses of Congress. If they're willing to vote for benefit cuts, they get them through without Democratic votes. Even the filibuster won't work for Democrats on this because it can go through the budget reconciliation process which only requires a majority vote. If Republicans are unwilling to vote for benefit cuts, why should Democrats?
Labels:
Congress and Social Security
CALJ Charles Boyer 1950 - 2015
Former Social Security Chief Administrative Law Judge Charles Boyer passed away on January 20.
Labels:
Obituaries
Jan 26, 2015
Reno To Become Deputy Commissioner For Retirement And Disability Policy
The National Academy of Social Insurance (NASI) announced today that its longtime Vice President for Income Security Policy, Virginia Reno, is leaving NASI to become Social Security's Deputy Commissioner for Retirement and Disability Policy. In previous testimony to the House Social Security Subcommittee she did not indicated support for cuts in Social Security disability benefits.
Labels:
Disability Policy,
Retirement Policy
Social Security Headcount Gets Back To 2002 Level
The Office of Personnel Management
(OPM) has posted updated figures for the number of employees at the Social Security Administration:
- September 2014 64,684
- June 2014 62,651
- March 2014 60,820
- December 2013 61,957
- September 2013 62,543
- June 2013 62,877
- March 2013 63,777
- December 2012 64,538
- September 2012 65,113
- September 2011 67,136
- December 2010 70,270
- December 2009 67,486
- September 2009 67,632
- December 2008 63,733
- September 2008 63,990
- September 2007 62,407
- September 2006 63,647
- September 2005 66,147
- September 2004 65,258
- September 2003 64,903
- September 2002 64,648
- September 2001 65,377
- September 2000 64,521
Labels:
Social Security Employees
Jan 25, 2015
Senate Subcommittee Assignments
The Senate Finance Committee, which has jurisdiction over Social Security has released its subcommittee assignments. The subcommittee assignments seem to be vastly less important in the Senate than in the House but here is the lineup for the relevant subcommittee:
Subcommittee on Social Security, Pensions and Family Policy
Republicans | Democrats |
Dean Heller, Nev., Chairman | Sherrod Brown, Ohio, Ranking Member |
Johnny Isakson, Ga. Pat Toomey, Pa. |
Charles Schumer, N.Y. |
Tim Scott, S.C |
Labels:
Congress and Social Security
Jan 24, 2015
Big Downturn In Senior Attorney Decisions In Recent Years
I had recently wondered about the state of the senior attorney advisor decision program at Social Security. The newsletter of the National Organization of Social Security Claimants Representatives (NOSSCR) (which is not available online) has some numbers on senior attorney advisor decisions:
- FY 2012: 37,423
- FY 2013 18,625
- FY 2014 1,872
Labels:
Senior Attorney Decisions
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