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Showing posts with the label Trust Funds

Low Profile Guy Nominated To Low Profile Position

     The White House has announced that William G. Dauster has been nominated to be a public member of the Board of Trustees of the Social Security Trust Funds. Dauster is a lecturer at the University of Pennsylvania. He has served in various staff positions in the Senate and White House. I'd call this a ceremonial position except that there really isn't any ceremony involved. Social Security's Office of Chief Actuary prepares the annual report on the Trust Funds. The Trustees sign off on it. I suppose someone in this position could ask questions of the Actuary or issue public pronouncements but I doubt that anybody would care. The position is little more than a formality.

Final 2019 Trust Fund Numbers

     Social Security has posted the final calendar year 2019 numb ers for the Social Security Disability Insurance Trust Fund. The fund declined by about $4 billion last year. As of the end of the year, the fund balance was $93 billion. The Old Age and Survivors Insurance Trust Fund gained $6.4 billion in the last calendar year. Its balance stands at $2.8 trillion.