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

Social Security trustees projected that the Old-Age and Survivors Insurance trust fund, which helps pay retirement and survivor benefits, will be depleted in late 2032 unless Congress acts. The projection moves the retirement fund’s shortfall earlier than last year’s estimate, and incoming payroll-tax revenue and other income would cover about 78% of scheduled benefits after depletion, leaving about 22% of scheduled benefits unpaid. The program supports roughly 68 million Americans, and the p...