Letter From Social Security Admin. To House Subcommittee on S.S. About The (Now) 21% Reduction

[OneEyedDiva]

The letter is addressed to the Hon. Sam Johnson, Subcommittee on SS, House of Representatives and dated Dec. 8, 2016. This is an excerpt from Pg 4 of the letter. "Under current law, 79 percent of scheduled benefits are projected to be payable on a timely basis in 2034 after depletion of the combined trust fund reserves, with the percentage payable declining to 74 percent for 2090. Under the plan, the OASDI program would be solvent throughout the 75-year projection period, and would have the ability to pay 100 percent of scheduled benefits on a timely basis for the foreseeable future."
There are additional provisions in this document. You can read the entire document here: https://www.ssa.gov/oact/solvency/SJohnson_20161208.pdf