The trust fund provides automatic spending authority to pay monthly benefits to disabled-worker beneficiaries and their spouses and children. With such spending authority, the Social Security Administration does not need to periodically request money from the Congress to pay benefits.
Funds not withdrawn for current expenses are invested in interest-bearing Federal securities, as required by law; the interest earned is also deposited in the trust fund.
The Trust Fund balance had been declining over the last few years until there was a temporary reallocation of FICA revenues at the beginning of 2016.
(Amounts in millions)
in asset reserves
|Asset reserves at end
|Qtr 1, 2015||$30,582||$36,483||$-5,901||$54,343|
|Qtr 2, 2015||33,697||37,241||-3,544||50,799|
|Qtr 3, 2015||27,508||36,651||-9,143||41,656|
|Qtr 4, 2015||26,808||36,206||-9,397||32,259|
|Qtr 1, 2016||39,509||36,509||2,999||35,258|
|Qtr 2, 2016||45,519||37,049||8,470||43,728|
|Qtr 3, 2016||38,457||36,444||2,012||45,740|
|Qtr 4, 2016||36,512||35,914||598||46,338|
By: Joyce Trudeau of Premier Disability Services, LLC®