Social Security commissioner breaks down plan to save agency from insolvency
Concerns linger that the SSA faces a threat of insolvency within the next ten years
By Taylor Penley Fox News
Published May 12, 2025 6:24am EDT
Newly-sworn in Social Security commissioner Frank Bisignano spelled out the agency's plans to eliminate waste, fraud and abuse, and protect the agency from a looming threat of insolvency that some say could come within the next ten years.
The Fiserv CEO told "Sunday Morning Futures" this week that he's "honored" to be a part of the team President Donald Trump has put together, and improving the safety and security of the agency ranks among the highest priorities.
"I think is, the team that oversees the Social Security Trust, which I'm one of – the Secretary of the Treasury, the Secretary of Labor, and the Secretary of Health and Human Services – we as a team will get together… probably in the next couple months, [to] go through the information that's produced. This is [an] effort across the board that will also involve Senate and Congress," Bisignano said.
"I think doing our job right is accretive to this economic challenge. It's been a 90-year-old institution, and as the president has said… we have no intent to break a system that can be improved, but we have no intent to break it, and I do believe that that team that will get together, along with the Senate and Congress, will ensure that this is here for the next 90 years, at least."
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