THE Social Security commissioner has offered a defiant pledge to Americans amid concerns that benefits could vanish soon.
Millions of people rely on the funds from the Social Security Administration (SSA) for living necessities.
Except, after 90 years in operation, the money is slowly running out.
At least, that’s what the data from the Congressional Budget Office (CBO) has revealed.
According to the CBO, a government fund set aside for retirement and survivor benefits will be exhausted by 2033, leaving only about eight years left if nothing changes.
Commissioner Frank Bisignano has insisted that efforts to resolve the money problem are already underway.
“Everybody is committed to Social Security for the rest of time,” Bisignano assured Americans while speaking to CBS News.
“There’s lots of senators that I’ve heard from that have all ideas about how to fix it.”
“So, we need to just go to work on how to fix it.”
On average, about 69 million Americans are getting a check from the SSA each month in 2025, per the SSA’s Social Security Fact Sheet.
Those payments total about $1.6 trillion throughout the year.
Despite Bisignano’s assurances, there are concerns about how quickly plans will be implemented, given the recent job cuts at the SSA.
In February, the administration confirmed plans to go from 57,000 to 50,000 employees, meaning about a 12% workforce reduction.
Over 12 SSA field offices could close, as noted on the website for the Department of Government Efficiency (DOGE), notably helmed by billionaire Elon Musk.
Still, the commissioner has expressed confidence that the cuts won’t affect progress, as “technology and process engineering” moves at the SSA will greatly increase its efficiency.
“We’re bringing a massive technology effort to transform the servicing agenda,” Bisignano told CBS News.
HOW TO SUPPLEMENT YOUR SOCIAL SECURITY
Here's how to supplement your Social Security:
Given the uncertainty surrounding Social Security’s long-term future, it’s essential for workers to consider ways to supplement their retirement income.
Senior Citizens League executive director, Shannon Benton recommends starting early with savings and investing in retirement accounts like 401(k)s or IRAs.
401(k) Plans A 401(k) is a retirement account offered through employers, where contributions are tax-deferred. Many employers also match employee contributions, typically between 2% and 4% of salary, making it a valuable tool for building retirement savings. Maxing out your 401(k) contributions, especially if your employer offers a match, should be a priority. IRAs An Individual Retirement Account (IRA) offers another avenue for retirement savings. Unlike a 401(k), an IRA isn’t tied to your employer, giving you more flexibility in your investment choices. Contributions to traditional IRAs are tax-deductible, and the funds grow tax-free until they are withdrawn, at which point they are taxed as income.AI ASSISTANCE
“We’re gonna bring AI into the phone system … I intend it to be completed this year.”
Call times have decreased at the administration since earlier this year, according to data it collected.
As opposed to an average of 112 minutes in January, April’s was only 68 minutes.
Overall, Bisgnano said the goal is to “meet our beneficiaries where they want to be” moving forward.
“You want to come into a field office? We’ll always be there,” he emphasized.
“You want to meet us on the web? We’ll be there. And you want to meet us on the phone, we’ll be there.”
VERIFICATION VILIFIED
Some other changes by the SSA also saw significant backlash.
In March, for example, there was an announcement that the administration would require in-person identity checks for new and existing recipients at field offices.
That was quickly retracted after severe pushback, with over-the-phone verification being the only requirement.
A report from the Center on Budget and Public Policy Priorities showed that around six million seniors would’ve had to travel 45 miles to get to their nearest SSA office.
Some Social Security recipients will also miss out on a maximum payment of $967 this month because of a calendar quirk.
There are also three secrets select recipients could learn to get an extra $27,324 in benefits every year.
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