Social Security retirees could face a 22% benefit cut if Congress does not act before the program’s retirement trust fund runs short of reserves, according to new government projections. The latest Social Security and Medicare Trustees Report estimates that the Old-Age and Survivors Insurance trust fund could exhaust its reserves in late 2032. That is … Read more
Millions of Americans are paying close attention after the latest Social Security trustees report warned that the trust fund supporting retiree and survivor benefits may run short earlier than expected. According to the report, the Old-Age and Survivors Insurance trust fund, known as OASI, could begin depleting by the fourth quarter of 2032 if Congress … Read more
Millions of Americans who depend on Social Security could see their monthly checks reduced by around $500 if the program’s retirement trust fund becomes insolvent by the end of 2032. A new analysis from the Committee for a Responsible Federal Budget warns that the typical benefit payment could be cut by about 24% if lawmakers … Read more
Social Security is once again at the center of serious retirement concerns as fresh projections suggest the program’s Old-Age and Survivors Insurance trust fund could run short of money sooner than previously expected. Earlier estimates placed the timeline around 2033, but updated projections now suggest the fund could face depletion by 2032. That does not … Read more