Social Security Administration Commissioner Frank Bisignano says getting rid of fraud, waste and abuse is an essential first step in protecting the retirement system as questions persist about its long-range finances.
Speaking on Big Money in the Morning, Bisignano outlined the agency’s work to improve operations, modernize technology, fix inaccurate records and strengthen the way Social Security benefits are administered.
“The president has been very, very clear. Protect and preserve,” Bisignano said. He said the agency’s early focus has been on making its core functions work properly, including upgrades to technology, operations and financial records.
His remarks come as Social Security continues to face funding pressure, prompting concerns about whether the program can keep paying full retirement benefits over the long term without changes to its financing.
Funding Pressure on Social Security Continues
Social Security is funded mainly through payroll taxes collected from workers and employers. Its trust funds are used to make up the difference when tax revenue falls short of scheduled benefit payments.
If trust fund reserves are exhausted, Social Security would not simply stop paying benefits. Even then, ongoing payroll tax revenue would not be enough to cover all scheduled benefits under current law unless Congress acts.
How large any future shortfall becomes will depend on the program’s financial trajectory and on whether lawmakers make changes. The latest projections are contained in the Social Security Administration’s 2026 Trustees Report.
Agency Revisits Records for Accuracy
Bisignano also addressed the agency’s review of Social Security records, including information tied to dates of death and citizenship status.
He said the roughly 15% figure cited during the interview referred to the share of records that were corrected, not the portion of the database that had been reviewed.
“15% is the amount of records that were corrected. We’ve gone through 100%,” Bisignano said.
The distinction matters because a review does not necessarily mean every record needs to be changed. His comments indicate the agency has examined its database while continuing to work on identified errors.
AI and New Technology May Help Operations
Bisignano said artificial intelligence could help improve Social Security’s service delivery, processing and recordkeeping.
He pointed to a broader push to modernize agency systems and coordinate with other government departments. Those efforts are aimed at improving administration as Social Security continues serving millions of Americans.
Still, technology upgrades and record corrections are separate from the program’s funding problem. Solving the long-term financing challenge will also depend on revenue, benefit costs and any policy changes Congress adopts.
For retirees and workers preparing for retirement, the central question remains whether lawmakers will act to address projected funding gaps while keeping Social Security benefits intact.
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