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Date: 02-10-2023

Case Style:

Kyle R. Williams v. Social Security Administration

Case Number: 2:21-cv-02519

Judge: John W. Lungstrum

Court: United States District Court for the District of Kansas (Wyandotte County)

Plaintiff's Attorney:

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Defendant's Attorney: Laura Ridgell-Boltz and James Burgess

Description: Kansas City, Kansas social security disability lawyer represented Plaintiff seek review of the demand that he pay RIS taxes by HHS.

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Social Security - Program Finances and Sustainability

As discussed in Note 9 to the Consolidated Financial Statements, “Benefits Due and Payable” on the balance sheet
for unpaid amounts of OASDI benefits due to recipients on or before that date includes a liability of approximately
$105 billion as of September 30, 2020 ($102 billion as of September 30, 2019). We paid virtually all of this amount
in October 2020. Also, the “investments in Treasury securities” recognizes an asset of $2,908 billion as of
September 30, 2020 ($2,901 billion as of September 30, 2019). These investments are the combined OASI and DI
Trust Fund asset reserves, and represent the accumulated excess for the OASDI program of all past income,
including interest, over all past expenditures. They are invested only in securities backed by the full faith and credit
of the Federal Government (see Investments and Interest Receivable, Note 5).

No liability has been recognized on the balance sheet for future payments to be made to current and future program
participants beyond the unpaid amounts as of September 30, 2020 because OASDI is accounted for as a social
insurance program rather than as a pension program. Accounting for a social insurance program recognizes the
expense of benefits when they are actually paid or are due to be paid because benefit payments are nonexchange
transactions and are not considered deferred compensation as would be employer-sponsored pension benefits for
employees. Accrual accounting for a pension program, by contrast, recognizes as a liability retirement benefit
expenses as they are earned so that the full estimated actuarial present value of the worker’s expected retirement
benefits has been recognized by the time the worker retires.

Outcome: 02/10/2023 17 MEMORANDUM AND ORDER. It is ordered that judgment shall be entered pursuant to the fourth sentence of 42 U.S.C. § 405(g) AFFIRMING the Commissioner's final decision. Signed by District Judge John W. Lungstrum on 2/10/2023. (kas) (Entered: 02/10/2023)

02/10/2023 18 JUDGMENT. Signed by deputy clerk on 2/10/2023. (kas) (Entered: 02/10/2023)

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