09/03/2021 - 09/03/2021
On Friday, September 3, the Board held a public session following the release of the 2021 Old-Age, Survivors, and Disability Insurance Trustees Report. By law, the Trustees are required to report on the trust funds’ financial operations for the immediate past year, projected operations over the next 5 years, and the actuarial status. The report is the first to reflect the potential effects of the COVID pandemic. The report projects the combined reserves to become depleted in 2034, one year sooner than previously projected.
During the event, Social Security’s Chief Actuary, Stephen C. Goss, provided a briefing on the actuarial projections of these programs. Mark Warshawsky from the American Enterprise Institute and Monique Morrissey from the Economic Policy Institute provided discussant remarks.