Inaccurate Fund Transfers between Social Security Administration and Railroad Retirement Board

摘要

Since 1958 the Social Security Administration (SSA) has paid more than $17 billion to the Railroad Retirement Board through an annual fund transfer (financial interchange) required by law. The interchange is designed to place the social security program in the same financial position in which it would have been if railroad employment had not been excluded from social security coverage. GAO recommends that the Board improve its calculations accuracy and that SSA do more to ensure that the amount it pays the Board is proper.