Social Security trustees project fund depletion in 2032 (opens in new tab)

The 2026 Social Security trustees report projects that the Old-Age and Survivors Insurance Trust Fund will be depleted in the fourth quarter of 2032, a few months earlier than the prior estimate of 2033. Unless Congress changes the program before then, the Social Security Administration would have enough income to pay 78% of scheduled old-age and survivors benefits, implying an automatic 22% reduction. The trustees cited financial and demographic strains on the program. CBS News reported that...