The 2012 Board of Trustees Report for the Social Security and Medicare Trust Funds was released on April 23, 2012. While the Fund remains relatively stable, the impact of the recession has resulted in some deterioration from last year, particularly for the Disability Insurance Trust Fund. The 2012 report finds that if no action is taken, the Social Security Trust Funds will be able to pay 100% of scheduled benefits until 2033, three years earlier than previously reported. Even if no action is taken, scheduled benefits would still be paid at a reduced level of about 75% after 2033 using incoming payroll tax revenue. However, the need to shore up the Disability Insurance Trust Fund is much more immediate, with exhaustion now projected to occur in 2016, two years earlier than in the 2011 Trustee’s Report.
Social Security Disability Attorney and Lawyer, Randy Zeldin, Esq., represents individuals seeking Social Security Disability Benefits from Fort Lauderdale to West Palm Beach, including all of Palm Beach and Broward Counties.