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.
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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 ascending | Recommendation | Status |
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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. |
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
Accounting proceduresActuarial tablesDisability benefitsDisability insuranceEmployee survivors benefitsFederal social security programsFunds managementRetirement benefitsSocial security benefitsTrust funds