Your wife is now disabled, and should you drop dead (absit omen!) she will receive a disability benefit until age 62 at which time she will receive a widow's benefit of 90 per cent of your primary benefit. Where did you get the idea that she would receive nothing? You may check on line with the SSA to see what your wife's benefits would be. Don't forget the generous $255 one time payment the SSA makes to him what buries you.
As for the efficiency of the administration of social security, check the 1999 trustees' report. available at ssa.gov
You will find that total disbursements of the OASI fund in FY1998 was $329,952,792,000 and total administrative expenses paid by the fund to the general treasury was $2,034,188,000 (less than 1%)(p 39). You will also see that the balance on September 30, 1998 was $653,108,300,000, which was predicted to increase for the next 14 years or so.
As for the Disability Trust Fund, total disbursements were $49,338,095,000 and total administrative expenses were $1,562,607,000 (about 3%). The balance was $77,087,107,000.
The combined results for both funds is that administrative expense is less than 2% as I said.
You really ought to be more careful (as should Michael) in talking about these big numbers. If you inquire further into the report you will see lists of exactly what securities the funds hold. Very dull. All special treasury issues. |
