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Kiplinger
Kiplinger
Business
Joey Solitro

REVEALED: Social security overpayment problem swells to 23 billion | Vintage Vibes

Social Security Social Security Administration SSA
Social Security card is lassoed to keep it from falling off of a cliff.

The Social Security Administration (SSA) released a report revealing its overpayment problem worsened in October, now standing at $23 billion.

The newly released Agency Financial Report showed that the SSA made $11.1 billion in overpayments — accidentally paying beneficiaries too much — and $2.5 billion in underpayments to beneficiaries in fiscal year 2022, up from $6 billion in overpayments and $1.4 billion in underpayments in fiscal year 2021, as noted in the SSA Inspector General (IG) report.

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