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SSA Releases Summary of the Impact of Policy Proposals on OASDI Combined Trust Fund
On December 13, 2021, the Office of the Chief Actuary of the Social Security Administration (SSA) released its Summary of Provisions that Would Change the Social Security Program. The summary describes the impact of certain policy proposals on Social Security Trust Fund solvency. It is based on the intermediate assumptions of the 2021 Social Security Trustees Report that estimated the exhaustion date of the Trust Fund to be 2034 under current law. The Annual Trustees Reports provide estimates of the financial status of Social Security’s Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds under current law.
The report provides a wide range of policy options and cost estimates that address Trust Fund solvency and other issues related to Social Security benefits and financing. Many of these individual provisions were a part of comprehensive proposals and policy options developed by policymakers to address the long-range shortfall intended to restore Trust Fund solvency.
The summary is available here.