Previous Projections of Social Security Disability Benefits Trust Fund Depletion May Be Flawed
May 12th, 2015|
Studies Show Projection Data Is Flawed
New research indicates projections about the financial status of our nation’s retirement and disability trust funds may not be accurate. Currently, estimates show the funds for retirement and Social Security Disability benefits will be depleted by the year 2033; however, studies conducted by Harvard and Dartmouth universities found the funds could be depleted sooner.
There seem to be two reasons for the discrepancy. An article from Forbes explains that workers in the United States are living longer than they did in past decades. The other contributing factor is a miscalculation of birth rates that inflated the estimated number of future workers who will contribute to the program.
What This Means for U.S. Workers
Disabled Americans have many concerns in response to these findings. Considering the financial shortfalls Social Security programs are facing, many people worry that applying for Social Security Disability benefits could become more and more difficult as funds deplete, and that it could become much more difficult to get approved.
Those considering applying for Social Security Disability are also concerned about getting the maximum amount of benefits possible. There are worries that trust fund depletion could lead to cuts in benefit payments, making it difficult to receive every penny for which a disabled worker is currently eligible.
At Fleschner, Stark, Tanoos & Newlin, our team of Social Security Disability lawyers is standing by to answer any questions you may have regarding your legal rights to Social Security Disability benefits. Feel free to give us a call anytime at (800) 477-7315 to get the answers you need.