2032 Trust Fund

Connecticut Retirees Could Face Biggest Social Security Cut If Trust Fund Runs Short

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Connecticut Retirees Could Face Biggest Social Security Cut If Trust Fund Runs Short

Connecticut retirees could face the largest average Social Security benefit cut in the country if Congress does not act before the program’s trust fund reserves run short. According to a projection from the Committee for a Responsible Federal Budget, Social Security recipients in Connecticut could lose an average of $556 per month by 2032. The … Read more

Social Security Faces Possible 24% Benefit Cut In 2032 As Retirees Brace For $345 Billion Hit

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Social Security Faces Possible 24% Benefit Cut In 2032 As Retirees Brace For $345 Billion Hit

Social Security is facing a serious funding warning that could affect tens of millions of Americans. A new report from the Committee for a Responsible Federal Budget says the program’s main retirement trust fund could be exhausted in 2032, triggering a possible 24% across-the-board benefit cut if Congress does not act. The projected cut would … Read more