Social Security Update: 3 Items of Note (plus a maybe)

by Bruce Webb

First and foremost the long-awaited Social Security Annual Report will be released at noon Eastern on Thursday Aug. 5th. If the release holds true to form it will also go live to the web at that same time. I will have a breakout of the Report at my blog 2010 Social Security Report or you can get your own copy of the Summary (typically 15 pages) or the Full Report (250 pages) at the SSA Trustees Report page: I will be posting extracted Figures and Tables here at Angry Bear over the next couple of days.

Second a Social Security news site was brought to my attention by its siteowner. It is devoted to the nuts and bolts of Social Security administration with a focus on Disability. Nancy Ortiz, frequent commenter and Social Security veteran tells me she checks it daily. Social Security News

Third Aug 14th marks the 75th anniversary of Social Security and is celebrated in the new release of the Social Security Bulletin: 75th Anniversary Edition. Of particular note is an article by the Social Security Chief Actuary Stephen Goss The Future Financial Status of the Social Security Program whose abstract is as follows:

This article describes four concepts—solvency, sustainability, shortfalls, and solutions—as they apply to the financial status of the Social Security program as well as how Social Security financing fits in the general federal budget. The little-understood basis for future projected shortfalls is explained and detailed in relation to the possible solutions.

A very valuable resource.

Fourth. August is also the normal publication month for CBO’s Long Term Projection for Social Security. If it is released on schedule it will go head to head with the SSA Annual Report which for the first time allows us a real apples to apples comparison of the respective projections and methodologies without the normal April to August time lag. If so it should be good fun.