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Old 02-21-2014, 12:51 PM   #61
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,634
Originally Posted by JustCurious View Post
Actually, the "shortage year" as you call it is still 2035 for retirement benefits, unchanged from last year. You are misinterpreting the report and taking that quote out of context. First, the language that you quoted does not say that benefits will be reduced starting in 2028. Rather, the report says that using current intermediate assumptions, the combined OASDI social security trust funds will not be depleted until 2033. Also, if you break down OAS (old age survivor benefits) from DI (disability insurance benefits), you will see that the trust fund has enough to pay retirement benefits at current levels until 2035. See the following quote from the executive summary of the report...

"Long-Range Results

The Trustees project that annual OASDI cost will exceed non-interest income throughout the long-range period under the intermediate assumptions. The dollar level of the combined trust fund reserves declines beginning in 2021 until reserves are depleted in 2033. Considered separately, the DI Trust Fund reserves become depleted in 2016 and the OASI Trust Fund reserves become depleted in 2035. The projected reserve depletion years are unchanged from last year’s report."


So even based on current intermediate assumptions, with no changes in the law, retirement benefits (not disability benefits) will not be reduced until 2035, some 21 years from now.
Thank you. I feel much better now. I'm sure there will be no attempts at transfers in the clear cut easy to understand government accounting system between OAS and DI trust funds, that our elected officials will do the right thing and that the trustees projections will be spot on.

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Old 02-21-2014, 01:32 PM   #62
Recycles dryer sheets
Join Date: Nov 2013
Posts: 170
If the SSA invested the trust in an indexed 80/20 AA... wouldn't that provide an adequate ROI over the long term to successfully fund the account?

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Old 02-21-2014, 02:23 PM   #63
Dryer sheet wannabe
Join Date: Jan 2014
Location: Uniontown
Posts: 13
Originally Posted by Dave J View Post
For me, already retired and insurance from wife's former employer.
My figures are when to start SS, not weather to retire early or not.

Also, please clarify your quote. $400 month is not $9600, unless 400 EACH.
Sorry, you're right, you did ask re: when to start the SS... I just read my situation into yours... my mistake.

As to the health insurance quote, the agent said a range of $380 to $430 for each of us... so just rounding to $400 X 12 = 4800/year X 2 persons = $9600. This is a "stop" for me.

Kudo's on being able to retire my friend! I'll be along in a year or few...


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