Abromson & Carey, Attorneys at Law
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Phone: 888-512-7031

Health of disability fund looks good for the next few years

Thanks to last year's Congressional action, the Disability Insurance Trust Fund, which serves to cover SSD benefits paid out by the Social Security Administration, will remain fully solvent until 2023. Until that time, the fund will be able to cover all disability benefits that are owed.

This came as welcome news to the Acting Commissioner of Social Security, who recently released a report on the health of both the Disability Insurance Trust Fund and another fund managed by the Social Security Administration. The Acting Commissioner took the time to acknowledge both Congress and President Obama for taking steps to preserve the Disability Fund, which was originally predicted to experience a shortfall this year.

Disabled New Jersey residents should of course continue to pay attention to the ongoing health of the Disability Insurance Trust Fund, as a sudden financial shortfall within the fund could spell an unexpected interruption or partial interruption of Social Security benefits. Clearly, the viability of the program, which has been an issue for many years now, is of utmost importance to injured or ill Newark residents who cannot work.

While efforts to preserve and grow the fund will no doubt involve many different aspects, applicants for disability benefits should be on guard for the possibility that, practically speaking, it may be harder to convince the Administration that they should be awarded disability payments. In other words, a person seeking disability has all the more incentive these days to be sure that they present an application that has been properly and thoroughly prepared.

Anyone in Newark who needs more information about SSD benefits may want to contact an experienced Social Security attorney.

Source: Walterborolive.com, "Social Security: Disability fund improves in near term," June 22, 2016

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