Stephen Goss, a 30-plus-year veteran of the Social Security Administration, and Steve Perrigo, Vice President of Sales and Marketing at Allsup, teamed up to present the “Current State of Social Security Operations and the Trust Funds” at the annual NOSSCR conference in Nashville, Tennessee.
Highlights included the current state of processing times for Social Security disability claims, with applicants waiting on average 7 months for an initial decision. View the chart on average initial disability processing times below. The initial disability claims backlog is over 1 million claims for the first time since the program began.
Goss and Perrigo shared insights on the latest data for both the Old-Age and Survivors Insurance (OASI) Trust Fund (around since 1937), and Disability Insurance (DI) Trust Fund (around since 1957). They discussed the recently issued Social Security Board of Trustees Report regarding the long-term health of these funds. They also dispelled some of the myths about Social Security and its funding, and offered possible solutions. Find more details from the SSA Office of Chief Actuary, including the presentation.
