Posts Tagged Government pensions and social security

Despite good news, benefit programs face problems

Health and Human Services Secretary Sylvia Burwell, center, flanked by Treasury Secretary and Managing Trustee Jacob J. Lew, left, and Labor Secretary Thomas E. Perez, speaks at a news conference at the Treasury Department in Washington, Monday, July 28, 2014, to discuss the release of the annual Trustees Reports. (AP Photo/Susan Walsh)

WASHINGTON (AP) — Despite some good news, Medicare and Social Security still face long-term financial problems as millions of baby boomers reach retirement. Social Security’s disability program is already in crisis as it edges toward the brink of insolvency.

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Medicare hospital fund to last 4 years longer

Health and Human Services Secretary Sylvia Burwell, center, flanked by Treasury Secretary and Managing Trustee Jacob J. Lew, left, and Labor Secretary Thomas E. Perez, speaks at a news conference at the Treasury Department in Washington, Monday, July 28, 2014, to discuss the release of the annual Trustees Reports. (AP Photo/Susan Walsh)

WASHINGTON (AP) — Medicare’s financial future is looking brighter despite a growing wave of baby boomers reaching retirement.

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Social Security’s $300M IT project doesn’t work

This Friday, Jan. 11, 2013 file photo, shows the Social Security Administration's main campus is seen in Woodlawn, Md. Six years ago the Social Security Administration embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. Nearly $300 million later, the new system is nowhere near ready and agency officials are struggling to salvage a project racked by delays and mismanagement. (AP Photo/Patrick Semansky, File)

WASHINGTON (AP) — After spending nearly $300 million on a new computer system to handle disability claims, the Social Security Administration still can’t get it to work. And officials can’t say when it will.

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