The Social Security Administration faces a funding crisis. Trustees say the projected shortfall in retirement benefits has risen to $25.1 trillion through 2099, up from $22.6 trillion a year ago.

Social Security is on track to deplete its trust funds by 2034, one year sooner than previously forecast, when the federal retirement program will be required to cut monthly benefits by about 20%.

The Medicare and Social Security trust funds are facing insolvency, with Social Security projected to cover only 81% of benefits by 2034 and Medicare just 89% of benefits by 2033.

The Social Security Administration faces a funding crisis. Trustees say the projected shortfall in retirement benefits has risen to $25.1 trillion through 2099, up from $22.6 trillion a year ago.

Rep. Perry should be working proactively to protect our Social Security system. Instead, his tele-town hall remarks suggest that he is content to throw up his hands as the Trump administration and ...

Social Security also comes with a cost-of-living adjustment, or COLA, each year, and if you take the reduced benefits at age 62, your annual COLA will be based off this reduced amount.

But the longer policymakers wait, the larger that amount becomes. Over just the past year, Social Security’s shortfall increased by $2.5 trillion, or an extra $19,000 per household.

Trustees of the Social Security trust fund predict the fund will be exhausted in eight years. Unless Congress acts, Social Security payments will automatically drop by 23% at that time.

How to make sure you still get your benefits on time. Paper Social Security checks will be eliminated on Sept. 30 By Jessica Hall Published: June 19, 2025, 10:00 a.m. ET Share ...

The Social Security Administration faces a funding crisis in the not-so-distant future. Trustees say the projected shortfall in retirement benefits has risen to $25.1 trillion through 2099, up ...

Annual reports released by the Treasury Department on Monday revealed that the Social Security’s reserve funds, if combined, would run out of money to pay beneficiaries by 2034. In addition, the ...

Meanwhile, Social Security's trust funds — which cover old age and disability recipients — will be unable to pay full benefits beginning in 2034, instead of last year's estimate of 2035.