Posts Tagged ‘Bloomberg’

Crisis of Social Security System Debunked

Monday, September 19th, 2011

Bloomberg reports today that the “air of crisis is striking, given that the program — far from being broke — can pay promised benefits for the next 25 years. After that, even without fixes such as higher payroll taxes or further increases in the retirement age, it could meet about three-quarters of its obligations through 2085, the latest report of the Social Security and Medicare Trustees shows.” See full story here:

SSA pays $500 million to People Whose Benefits Were Wrongly Denied

Thursday, August 13th, 2009

Bloomberg reports today that the Social Security Administration has agreed to pay a total of $500 million to 80,000 people whose benefits were wrongly withheld by a federal program intended to deny payments to those fleeing arrest, the National Senior Citizens Law Center said.

The agreement was part of a class-action settlement given initial approval yesterday by U.S. District Judge Claudia Wilken in Oakland, California, the center said in a statement.

The Social Security Administration used a computer system matching arrest-warrant names with agency data to deny benefits, according to the law center statement. The agency was attempting to carry out a law that seeks to prevent people from using government benefits to avoid arrest, the group said.

Many matches involved false or unproven allegations, minor infractions or dormant warrants, said the legal group, which represented plaintiffs who filed a lawsuit. See story here: