Social Security Board Reports Over $100 Million Revenue, Focuses on Investment Growth
The Social Security Board (SSB) recorded over a hundred million dollars in revenue last year but says it needs to increase its investments. Today, the organization held its annual SSB Connect event where it presented its year in review for 2022 and provided important updates. The presentations included an overview of its 163.7 million dollars in revenue and a look at its investment portfolio. SSB’s General Manager for Corporate Services, Leo Vasquez, gave a brief overview of the statutory body’s financial performance in 2022.
Vasquez further explained that there is a great misconception by contributors who believed that they do not receive an adequate return on their investment. Vasquez explained the value of contributions and the return that is seen after retirement.
Vasquez added that the SSB needs to increase the sum of money it invests to ensure the fund can pay out all pension expenditures.