The Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. According to Andrew Saul, Commissioner of the Social Security Administration, the projections in this year’s report do not reflect the potential effects of the COVID-19 pandemic on the Social Security program. Given the uncertainty associated with these impacts, the Trustees believe it is not possible to adjust estimates accurately at this time. The duration and severity of the pandemic will affect the estimates presented in this year’s report and the financial status of the program, particularly in the short term.
See WISER’s factsheet about the report from the Social Security Board of Trustees here: