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.

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%.

Although Mr. Trump has vowed not to touch Social Security, his administration is has cut the agency's staffing to 50,000 workers, down from its current level of about 57,000 workers.

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.

About 68 million people received monthly Social Security benefits in 2024, and Medicare provides health insurance coverage to 67.6 million people. Both the Social Security and Medicare programs ...

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.

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 ...

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 ...

Social Security will not be able to fully pay monthly benefits to tens of millions of retirees and people with disabilities in 2034 if lawmakers don't act to address the program's pending ...