Social Security Administration Commissioner Frank Bisignano discussed the history cleanup of nearly 50 million files, warnings about the program’s solvency and the new Trump Account notices sent to eligible families.
Social Security Administration Commissioner Frank Bisignano said “eliminating fraud, waste and abuse” is the “first solution” to protecting the pension program because of long-term financial concerns.
During an appearance on “Big Money in the Morning,” Bisignano discussed efforts to improve the agency’s records, modernize operations and maintain the program.
“The president has been very clear. Protect and preserve. The first step to protect is to make operations work properly. Any good business fixes technology, fixes operations, fixes books and records, and that’s what happened,” said Bisignano.
Social Security Commissioner Frank Bisignano said eliminating fraud, waste and abuse is the first step to preserving the program. (Tierney L. Cross/Getty Images)
The comments come as Social Security faces long-standing funding challenges. The program relies primarily on payroll taxes to pay for benefits, while trust funds help cover the difference when expenses exceed incoming revenue.
Without legislative changes, the reduction of these reserves does not mean that benefits will stop altogether, but the incoming taxes simply will not be enough to pay the scheduled benefits in full.
SOCIAL SECURITY CORRECTS NEARLY 50 MILLION RECORDS IN LARGEST SSN CLEANUP IN AGENCY HISTORY
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The agency has also worked to correct incomplete or inaccurate records, including missing dates of death and citizenship information.
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Bisignano said the purge included the agency’s entire database, explaining that about 15% of the figures discussed in the interview refer to records that were corrected, not parts that were reviewed.
President Donald Trump and Social Security Commissioner Frank Bisignano are prioritizing efforts to protect and preserve Social Security for future generations. (Anna Moneymaker/Getty Images)
“15% is the number of corrected records. We have passed 100%,” he said.
Bisignano also described artificial intelligence as a tool to improve services, processes and records, while emphasizing coordination between government agencies.
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