Social Security’s financial challenges are commonly linked to an aging population, declining birth rates and a shrinking ratio of workers to retirees. However, growing income inequality may also be placing considerable pressure on the program. An increasing share of national earnings now goes to higher-income workers whose wages exceed the Social Security payroll tax limit. … Read more
Social Security recipients could receive a much larger cost-of-living adjustment in 2027 as elevated inflation drives benefit forecasts higher. Independent Social Security analyst Mary Johnson currently projects a 4.7 percent COLA for 2027. If that estimate proves accurate, it would reportedly rank as the fourth-highest adjustment awarded to retirees in 36 years. However, the final … Read more
Social Security recipients could face automatic benefit cuts within the next several years if lawmakers fail to address the program’s growing funding gap. The latest trustees’ projections show the retirement trust fund could be depleted by late 2032. That does not mean Social Security would disappear, but it does mean the program would no longer … Read more
A major Social Security funding deadline is approaching, raising fresh concerns for retirees, workers and families who expect the program to support them in the future. Social Security is not expected to disappear or stop receiving money. Workers and employers will continue contributing through payroll taxes. However, the program’s retirement trust fund is projected to … Read more
Seniors waiting for the 2027 Social Security cost-of-living adjustment may have reason to expect a larger increase than earlier forecasts suggested. The latest estimate from The Senior Citizens League places the 2027 COLA at 3.8%. That projection is slightly lower than the group’s previous 3.9% estimate, but it remains well above the 2.8% forecast given … Read more
A key Social Security trust fund used to pay retirement benefits may be depleted in late 2032, according to the latest annual trustees report from the Social Security Administration. The new projection moves the deadline about three months earlier than last year’s estimate. If the Old-Age and Survivors Insurance trust fund runs out as projected, … Read more
Social Security beneficiaries may receive a larger cost-of-living adjustment in 2027 as inflation continues to place pressure on household budgets. New estimates suggest the Social Security COLA for 2027 could range from 3.8% to 4.7%, depending on how consumer prices move in the coming months. One estimate from independent Social Security and Medicare policy analyst … Read more
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
Social Security recipients could see a bigger monthly benefit increase in 2027 if inflation remains elevated through the rest of the year. A new forecast from The Senior Citizens League estimates that the 2027 Social Security cost-of-living adjustment could reach 3.8%. If that prediction becomes reality, it would be higher than the current year’s 2.8% … Read more
Social Security recipients and future retirees may need to start preparing for a possible financial shock. A recent projection shows that the retirement trust fund could become depleted in 2032, which may leave the program able to pay only about 78% of scheduled benefits if Congress does not act. That could mean a possible 22% … Read more