Social Security Announces Cost Cutting Initiative Following Audit

The SSA previously identified more than $800 million in cost savings for fiscal year 2025.

A woman stands outside a Social Security Administration building in Burbank, Calif., on Nov. 5, 2020. Valerie Macon/AFP via Getty Images

The Social Security Administration (SSA) on March 19 announced a plan to reduce costs and enhance security measures following stakeholder feedback and a recent audit by the Government Accountability Office (GAO).

The SSA said in a statement that a “phased approach will be adopted to reduce operating costs by up to approximately 40 percent going forward.”