The Social Security Administration (SSA) estimates that it is on course to save hundreds of millions of dollars in the 2025 fiscal year, with the bulk of the savings coming from payroll reductions.
“The agency has thus far identified over $800 million in cost savings or cost avoidance for fiscal year (FY) 2025 in areas of payroll, information technology, contracts and grants, and space savings (i.e., real property), and other savings through new, common-sense approaches to printing, travel, and purchase card policies,” SSA said in a March 3 statement .
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