Our daily roundup of retirement news your clients may be thinking about.
Parties clash over Social Security disability trust fund The Obama administration and Congress are in conflict over how to address the financial woes of the Social Security Disability Insurance program, which is likely to cut benefits for disabled workers by 19% in 2016 because of dwindling funds, according to this article in The Wall Street Journal. President Barack Obamas proposed budget wants to shore up the program by raising the portion of the payroll tax intended for the disability fund by 0.9 percentage point, a proposal that Republican lawmakers opposed because it should come with changes to fix Social Securitys overall financial health. Regrettably, President Obama isnt doing anything to ensure that this [shortfall] never, ever happens again, said Senate Budget Committee Chairman Mike Enzi, R., Wyo. --The Wall Street Journal
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access