1、 https:/crsreports.congress.gov October 5, 2021Social Security: Selected Findings of the 2021 Annual ReportAccording to the recent report of the Board of Trustees of the Social Security Trust Funds, the programs finances are in a similar, albeit marginally worse, position in 2021 to what they were i
2、n 2020. Under intermediate assumptions, the projected combined Trust Fund asset depletion date is 2034 (versus 2035 in last years report), after which the percentage of benefits payable would be 78% (versus 79% in 2020). Social Security Overview Social Security is a self-financing program that in 20
3、21 covers approximately 176 million workers and provides monthly cash benefits to over 65 million beneficiaries. It is the federal governments largest program in terms of both the number of people affected (i.e., covered workers and beneficiaries) and its finances. Social Security is composed of Old
4、-Age and Survivors Insurance (OASI) and Disability Insurance (DI), referred to collectively as OASDI. The OASDI program is primarily financed (89.6% of total revenues in 2020) through a payroll tax applied to Social Securitycovered earnings up to an annual limit. In addition, some beneficiaries pay
