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Disability Insurance Trust Fund in Free Fall

Created on July 24, 2015

Disability Insurance Trust Fund in Free Fall

social-security-disability-insurance-2015-xzyuzsxszr

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Read the original report, "Social Security Trustees: Disability Insurance Program Will Be Insolvent in 2016," by Rachel Greszler.

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In 1994, Congress raised the tax rate for SSDI by about 50 percent. The Social Security Trustees warned that Congress must implement SSDI reforms to ensure the program’s long-run solvency. Yet Congress did nothing, SSDI beneficiaries and costs surged, the Trust Fund rapidly declined, and it is now projected to be insolvent in 2016.

Notes: The SSDI tax rate shown is the combination of employee and employer contributions as a percent of taxable payroll. In 1994, the rate was increased from 1.2% to 1.88% for 1994–1996, 1.7% for 1997–1999, and 1.8% for 2000–current. Source: Social Security Administration, “Disability Insurance Trust Fund, 1957–2014,” http://www.ssa.gov/oact/STATS/table4a2.html (accessed July 14, 2015). Figures are adjusted for inflation in 2014 dollars using the Consumer Price Index.

CHART 1 • BG 3033

Tags: Social-Security, SSDI, disability-insurance