People are discussing Trump’s new Social Security head, Frank Bisignano, on social media. Frank heads a Wisconsin-based payment and financial technology company and will lead the Social Security Administration.
The United States administration has been modified as President Donald Trump has been elected as the new President of the United States of America for the second term. He has appointed various new faces in its administration to lead the department better.
Trump’s New Social Security Head
Frank is an American businessman and the President and CEO of Fiserv, and he has excellent business management skills. On Wednesday evening, Donald Trump wrote on their social media platform, “Frank is a business lead with a tremendous track record of transforming large corporations.”
He further writes, “He will be responsible for delivering on the Agency’s commitment to the American People for generations to come.” This indicates the relationship between Trump and Frank; it is also Trump’s approach to managing the Social Security administration better and providing needed relief to all suffering citizens of the country.
New Social Security Changes Overview
| Name | Frank Bisignano |
| Position | President and CEO of Fiserv |
| Authority | Social Security Administration |
| Country | United States |
| Current Status | Frank Bisignano not yet confirmed as SSA Commissioner |
| Category | Latest News |
| Official Website | www.ssa.gov |
Frank Bisignano Life
Frank Bisignano, the chair, chief executive, and President of Milwaukee-based Fiserv, is Wisconsin’s highest-paid CEO, with a 2023 compensation package of about $28 million, according to an analysis by the Journal Sentinel. Before joining Fiserv, Bisignano held prominent leadership roles at JPMorgan Chase & Co. and Citigroup.
In 2018, Fiserv acquired the naming rights to the Milwaukee Bucks’ arena following an agreement by Wisconsin lawmakers to give up to $12.5 million in incentives to ensure that the company maintains its headquarters in the state.
Fiserv has cemented its position as one of the largest financial services technology providers. On Thursday, the company said Bisignano will continue in his current position until he is confirmed commissioner of the Social Security Administration.
Bisignano said in a statement that he was honored to have served as Fiserv’s chief executive and was proud of what had been accomplished. He thanked President-elect Trump for the nomination and pledged to use his experience to transform the Social Security system if confirmed.
Social Security Trust Funds Face Insolvency by 2034
The Congressional Budget Office projects that the Social Security trust funds will be insolvent by 2034.
Trump promised to preserve Social Security but had no plans. He did promise to eliminate Social Security taxes, though, which would exacerbate insolvency without providing alternative funding. Frank Bisignano would manage 60,000 employees as agency head.
Bisignano has a history of political contributions, primarily to Republicans. In 2019, he gave $125,000 to Trump’s campaign and $15,000 to Chris Christie’s campaign in 2023.
According to Federal Election Commission data, his wife, Tracy, gave $931,000 to Trump’s campaign in October 2023. Fiserv refused to comment on Bisignano’s position on Trump’s plan to end Social Security taxes.
Reviews of Johnson on Social Security Administration
Wisconsin Sen. Ron Johnson says reforms are needed in Social Security, calling it a “legal Ponzi scheme” because Congress spends the money.
Utah Sen. Mike Lee blasted Social Security as a “bait and switch,” more a tax than a benefit. Elon Musk retweeted that, saying it’s “interesting.
Tim Sheehy, former President of the Metropolitan Milwaukee Association of Commerce, commended Bisignano’s corporate leadership and Fiserv’s financial role and described him as a strong candidate to lead the Social Security Administration.
Bisignano is involved in Fiserv’s operations in Milwaukee, New Jersey, and Atlanta.
FAQs
Who is the Frank Bisignano?
Frank Bisignano is a famous American businessman with many positive approaches and marvelous management skills.
By which year are the Social Security trust funds expected to be depleted?
The Social Security trust funds are projected to be depleted by the end of 2034.
Who appointed Frank Bisignano as the New Social Security Head?
President of the United States, Donald Trump.