US Social Security Administration (SSA) releases new strategic plan for FY2026-2030, projecting Old-Age and Survivors Insurance Trust Fund reserves to deplete by Q4 2032
The newly released strategic plan focuses on technology and productivity to improve service, building on changes initiated by the now-defunct Department of Government Efficiency (DOGE), which Elon Musk called "somewhat successful." The SSA reported wait times at field offices fell 23% in fiscal 2025 and initial disability claims backlog fell 25%. The 2026 Board of Trustees Report projects the OASI Trust Fund will exhaust its reserves in the fourth quarter of 2032, a quarter sooner than projected last year. After depletion, payroll taxes would cover about 78% of scheduled OASI benefits without congressional action.
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