SSD lawyer Lawrence Disparti made a call to Congress to act to save the trust fund for the program.
The Florida Social Security Disability program has been in the spotlight following a call made to Congress by SSD benefits lawyer, Lawrence Disparti, who stated that its trust fund will be entirely depleted by 2016 if action is not taken.
Disparti’s claim is based on statistics presented by analysts who specialize in the subject.
The lawyer, who is also the founder of the personal injury and disability benefits law firm, the Disparti Law Group, explained that “We were surprised by a recent report that says the Social Security Disability trust fund’s rapid depletion over the next few years could result in huge cuts in the benefits that millions of Americans depend on.”
The law firm provides residents of Florida with assistance in their Supplementary Security Income (SSI) and Social Security Disability benefits claims, among others. The lawyer believes that it is vital that Congress acts, as there are too many individuals and families relying on the SSD benefits, and it won’t be long before the fund is no longer able to provide.
The Social Security Disability benefits program in Florida is funded by payroll taxes.
As is the case in many other similar funds, in states across the country, the trust fund for the Florida SSD program is facing significant struggles as the Baby Boomer generation ages and requires a growing number of benefits, while at the same time, the workforce is shrinking and is therefore paying smaller amounts into rebuilding the fund.
The data used by Disparti in making his call for action to Congress was provided by a Social Security trustees project, which produced a report that indicated that by the close of 2016, the trust fund for the program will have been completely emptied. At the moment, the SSD program cannot legally operate if it is in a deficit, meaning that the recipient benefits would be reduced by approximately 21 percent.
There have been over 5 million people who have filed benefit claims through the Social Security Disability program in the state since 2009.