Each module would be assigned a certain block of social security numbers and it might process all features of a claim, from initial entitlement by way of various adjustments, notifications to beneficiaries, and so forth. Decades later, the modules system was still seen as one of many great enhancements in SSA processing.
By 2020, Social Security’s program costs will exceed its revenue, at which point this system will have to start dipping into its almost $three trillion trust fund. The Old-Age and Survivors Insurance (OASI) Trust Fund is projected to be depleted by 2035; the Disability Insurance (DI) Trust Fund is projected for depletion by 2052. The Social Security Administration (SSA) is the organization that oversees and runs the Social Security program within the United States.
An actuarial deficit is the distinction between payout obligations of the Social Security program and the income rate of the Social Security Trust Fund. … Read More