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SS annual benefit payments exceed contributions by over $3 million in 2016

by July 18, 2017 Top Stories

No unresolved findings of FY 2016 audit

By: L.N. Reklai

July 17, 2017 (Koror, Palau) Social Security Administration annual benefit payments exceeded contributions by over $3 million dollars for 2016 according to independent audit report on FY 2016.

Benefits increased by over 50% under RPPL 9-11, 9-12, 9-35, 9-46, 9-55 and 9-62, exceeding the amount of contributions. “Contributions on annual basis are no longer sufficient to pay annual benefit payments due to current beneficiaries” states the report. We’re sorry. You don't have permission to access this page. Please sign up to have full access to this page.




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