Sep
06
2017
Social Security Reserves and Sources of Income
By admin
Good article which outlines how Social Security invests its current $2.9 trillion in excess reserves.
Highlights :
Social Security received generated $957.5 billion in revenue in 2016
Sources of income for Social Security :
- Payroll (FICA) taxes : 87.3 percent
- Taxation of Social Security benefits : 3.4 percent
- Interest from bonds (excess reserves) : 9.2 percent
The problem is the program expects to begin paying out more in benefits than it's generating in income beginning in 2022.
