Social Security Funds: Additional Measures Could More Fully Indicate the System's Financial Condition

PEMD-88-11 Published: Feb 05, 1988. Publicly Released: Feb 05, 1988.

Highlights

GAO developed actuarial measures that the Social Security Administration (SSA) could use to document the financial condition of the combined Old-Age Survivors and Disability Insurance (OASDI) Trust Fund.

Recommendations

Recommendations for Executive Action

Agency Affected Sort descending	Recommendation	Status
Social Security Administration	The Commissioner of Social Security should calculate additional measures and report each in the long-range financing section of the summary of the annual trustees' report. SSA should specifically add the: (1) imbalance year; and (2) adjusted actuarial balance.	Closed – Implemented SSA did not include a fund goal at the end of the 75-year period or report actual figures for the imbalance year.

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Topics

Auditing and Financial Management

Accounting proceduresActuarial tablesDisability benefitsDisability insuranceEmployee survivors benefitsFederal social security programsFunds managementRetirement benefitsSocial security benefitsTrust funds