|This is an archival or historical document and may not reflect current policies or procedures|
Tuesday March 23, 2004
Jim Courtney, Press Officer
For Immediate Release
410-965-8904 FAX 410-966-9973
2004 Trustees Report - Little Change in Long Term Solvency of Social Security
The 2004 Social Security Trustees Report shows little change in the projected financial status of the Social Security program over last year. And again this year, the Social Security Board of Trustees states that, absent changes, Social Security’s currently scheduled benefits are not sustainable over the long term.
In the 2004 Annual Report to Congress, the Trustees announced:
“I want to assure those already receiving Social Security benefits – as well as those who are close to retirement – that your benefits are secure,” said Jo Anne Barnhart, Commissioner of Social Security. “Reaching agreement on an appropriate solution to Social Security’s long-term financing challenges will require Congress and the President working together in a bipartisan manner.”
Other highlights of the Trustees Report include:
The Board of Trustees is comprised of six members. Four serve by virtue of their positions with the federal government: John W. Snow, Secretary of the Treasury and Managing Trustee; Jo Anne Barnhart, Commissioner of Social Security; Tommy G. Thompson, Secretary of Health and Human Services; and Elaine L. Chao, Secretary of Labor. The other two members, appointed by the President and confirmed by the Senate, are John L. Palmer and Thomas R. Saving.
The 2004 Trustees Report is posted at http://www.socialsecurity.gov/OACT/TR/TR04/.
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