Social Security’s reserves could vanish in eight years, roughly on par with previous estimates, according to a new report. At that point, if no adjustments are made, the entitlement program’s trust fund will be able to pay out just 77% of benefits to seniors. Medicare is in the same boat. That’s the latest projection for … Read more
Social security funds are running out, new data shows originally appeared on TheStreet. The Old-Age and Survivors Insurance and Disability Insurance trust funds are projected to deplete their assets by 2033, as stated in the Social Security Board of Trustees’ annual 2025 report. At that time, only about 77% of scheduled benefits will be payable. … Read more
Social Security is on track to deplete its trust funds by 2034, one year sooner than previously forecast, when the federal retirement program will be required to cut monthly benefits by about 20%. The new projection, issued Wednesday in the Social Security Board of Trustees’ annual report, is partly due to increased costs from the Social Security … Read more