New Social Security Report

The new 2015 Social Security Report just came out. Key points:

The dollar level of the theoretical combined trust fund reserves declines beginning in 2020 until reserves become depleted in 2034. Considered separately, the DI Trust Fund reserves become depleted in the fourth quarter of 2016 and the OASI Trust Fund reserves become depleted in 2035. 

Yes! This is one year later than predicted in last year's report.  If we keep kicking the can down the road, Social Security can be solvent forever.

What about the 75-year deficit?

The open group unfunded obligation for OASDI over the 75-year period is $10.7 trillion in present value and is $0.1 trillion more than the measured level of $10.6 trillion a year ago.

That's only $100 billion more than a year ago.  That's almost a rounding error.  Good job actuaries.

The only problem is the DI fund being depleted.

The DI Trust Fund reserves become depleted in the fourth quarter of 2016, at which time continuing income to the DI Trust Fund would be sufficient to pay 81 percent of DI benefits. Therefore, legislative action is needed as soon as possible to address the DI program’s financial imbalance.