Disability Law

Social Security Held its Value Better Than Your 401K

As the the Trustees of the Social Security Trust Fund found, the Social Security (SSA) funds are secure thru 2037. This is a slight fall from the prior 2041, but it IS three decades out. And how’s your 401K? Cnn comares the two:

“The 2009 Social Security Trustees report released Tuesday provides a basis for assessing how each held up. On the one hand, assets in 401(k) accounts — which are predominantly in stocks — have declined in value by about a third, employers are suspending matching contributions, and millions of unemployed workers have seen their retirement savings efforts disrupted.

On the other hand, the Social Security Administration continues to send out monthly checks to 35 million retirees and their spouses, 9 million disabled workers and their families, and 6 million families whose breadwinner has died. In other words, the government system has proved to be much less fragile than the private system of retirement savings.” http://edition.cnn.com/2009/POLITICS/05/14/munnell.social.security/

Full post as published by Social Security Disability Law Blog on May 15, 2009 (boomark / email).