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- Social_Security_Trust_Fund abstract "The United States Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits. This is done by way of "Trust Funds". There are two trust funds which the Social Security Administration controls: Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI).When the program runs a surplus, there will be excess funding available for the Social Security Administration that year. The excess funds are diverted to one of the trust funds. The money in the trust fund is used by the treasury in the form of treasury bonds. The treasury bonds provide interest on the money in the trust funds, and if the program sees a deficit, the excess funds from previous years plus any interest earned is used to pay beneficiaries. At the end of 2011, the Trust Fund contained (or alternatively, was owed) $2.7 trillion, up $69 billion from 2010. The fund is required by law to be invested in non-marketable securities issued and guaranteed by the "full faith and credit" of the federal government. The trust fund do not represent a legal obligation to Social Security program recipients, and Congress could cut or raise taxes on such benefits if it chooses, and is considered "intra-governmental" debt, a component of the "public" or "national" debt. As of April 2012, the intragovernmental debt was $4.8 trillion of the $15.7 trillion national debt.According to the Social Security Trustees, who oversee the program and report on its financial condition, program costs are expected to exceed non-interest income from 2011 onward. However, due to interest (earned at a 4.4% rate in 2011) the program will run an overall surplus that adds to the fund through the end of 2021. Under current law, the securities in the fund represent a legal obligation the government must honor when program revenues are no longer sufficient to fully fund benefit payments. However, when the trust fund is used to cover program deficits in a given year, the Trust Fund balance is reduced. By 2033, the fund is expected to be exhausted. Thereafter, payroll taxes are projected to only cover approximately 75% of program obligations.There is controversy regarding whether the U.S. government will be able to borrow sufficient amounts to honor its obligations fully to recipients or whether program modifications are required. This is a challenge for the federal government overall, not just the Social Security program.".
- Social_Security_Trust_Fund wikiPageExternalLink index.htm.
- Social_Security_Trust_Fund wikiPageExternalLink RL33028.pdf.
- Social_Security_Trust_Fund wikiPageID "180777".
- Social_Security_Trust_Fund wikiPageRevisionID "604665119".
- Social_Security_Trust_Fund hasPhotoCollection Social_Security_Trust_Fund.
- Social_Security_Trust_Fund subject Category:Social_Security_(United_States).
- Social_Security_Trust_Fund comment "The United States Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits. This is done by way of "Trust Funds". There are two trust funds which the Social Security Administration controls: Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI).When the program runs a surplus, there will be excess funding available for the Social Security Administration that year.".
- Social_Security_Trust_Fund label "Social Security Trust Fund".
- Social_Security_Trust_Fund sameAs m.018pdc.
- Social_Security_Trust_Fund sameAs Q7550835.
- Social_Security_Trust_Fund sameAs Q7550835.
- Social_Security_Trust_Fund wasDerivedFrom Social_Security_Trust_Fund?oldid=604665119.
- Social_Security_Trust_Fund isPrimaryTopicOf Social_Security_Trust_Fund.