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Social Security fund for the disabled given new lease on life

| May 2, 2019 | Social Security Disability

According to those in charge, the trust fund that helps cover Social Security disability payments to injured and ill North Carolina workers has experienced a new lease on its life. Experts now say that the fund will run out of money by 2052. Last year, they predicted the fund would be depleted in 2032, or in less than 15 years from now. While this is not wonderful news, it does mean there is more breathing room for lawmakers and others to resolve the funding issues which have recently affected the Social Security Disability program.

Although there are about 10 million workers across the country receiving SSDI, the number of new applicants for benefits has been trending downward since 2010. Moreover, there has been a push, at least since 2014, to trim the roles of already existing beneficiaries who may no longer want the payments or who may no longer be eligible for them.

Lest one think that a disaster is looming after 2052, the reality is that, even if the disability trust fund were depleted, those on disability would still receive over 90 percent of their benefits. This is not good, obviously, but there is no pressing danger that Social Security Disability is on the brink of going bankrupt.

Still, some like to use these sorts of numbers and predictions to suggest that just too many people are getting disability, even when they do not truly need it. The end result is that a disabled Charlotte resident may find it hard to convince the Social Security Administration to award benefits. Having the help of a skilled advocate with experience handling disability claims may prove helpful.

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