Tuesday, October 27, 2015

SSA actuarial score of budget deal Social Security provisions

The Social Security Administration’s Office of the Chief Actuary has published a valuation of the Social Security reform provisions included in the Bipartisan Budget Act of 2015. These include changes to the Social Security Disability program, including temporary reallocation of the payroll tax to extend the program’s trust fund solvency to 2022, as well as changes that shut off certain retirement benefit claiming strategies that were a cost to Social Security.

Overall, the provisions would improve the long-term actuarial balance of the combined Social Security retirement and disability programs by 0.04% of taxable payroll.

The SSA document with additional details is available here.

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