Claiming Social Security before your full retirement age (FRA) -- which is when you're eligible to receive your base monthly benefit (called the primary insurance amount) -- will result in a decreased ...

If America had a solvent Social Security program that wasn’t promising rich couples $100,000 per year, the trade deficit would be dramatically smaller. Social Security’s Trustees just released ...

In 2024, the trust funds received $1.42 trillion but spent $1.48 trillion, resulting in a record deficit of $67 billion. Since its peak in 2020, the total value of the funds has decreased by $187 ...

Key Points The Social Security program is beginning to pay out more than it's bringing in. Social Security benefits could be cut by 23% in 2033 if the deficit continues at its current rate.

While the deficit is a problem for all Americans, the benefits of the tax cut are not evenly distributed. More than 80% of the financial benefits of the tax cut go to the top 1% of income earners.

The chart below details the relationship between birth year and FRA. It shows the retirement benefit (as a percentage of PIA) workers will receive if they start Social Security at 62 and 70.

The Social Security Fairness Act, signed into law by President Joe Biden in January, removes the Windfall Elimination Provision and the Government Pension Offset, increasing benefits for 3.2 ...

Given the deficit that Social Security had in 2024, should current and future retirees be concerned? For most current retirees, no. However, if you're a current worker or approaching retirement ...

The Social Security Administration's (SSA's) 2025 Social Security Trustees Report noted that the Social Security program cost $1.485 trillion in 2024, while only bringing in $1.418 trillion.