The Federal Government is under funding the Social Security Administration. As a result it is taking longer and longer to obtain Social Security Disability benefits. The current processing time for a SSD case hearing is 527 days. This is an increase of about one hundred days from last year.
The main source of Social Security revenue is payroll taxes or FICA. This represents 85.5% of the Social Security Revenue. Then 3.4 percent comes from the taxation of Social Security benefits themselves. The last 11.1% comes from interest on the money that is held in the Social Security Trust Fund.
There are 64.2 million people currently receiving money from the combination of Social Security Disability benefits and Social Security retirement. 55% of the people receiving Social Security benefits are woman. The average age of a disabled person is 53.7 years old.
In 2014 only 6% of the 166 million people who paid into the Social Security Trust Fund paid the maximum allowable amount. In 1965, 36% of the people that paid into the Social Security Trust fund paid the maximum allowable amount.
In light of these number it may be disheartening for a new applicant or a denied applicant to continue to try to get approved for SSD benefits. But a valid applicant should never give up. If you need assistance with your application or have been denied and need help with your appeal consider the law office of Neil H. Good for your representation. Call #(847) 577-4476 or contact us online for a free case evaluation.