By Tami Luhby, CNN
(CNN) — Tens of millions of retirees and other Americans could see smaller monthly Social Security checks in six years if lawmakers don’t act to shore up the program’s finances, according to an annual report released Tuesday by Social Security’s trustees.
Social Security’s retirement trust fund – which helps support payments to senior citizens and survivors of deceased workers – is expected to be exhausted in late 2032, which is one quarter earlier than previously forecast, according to the trustees. At that time, payroll tax revenue and other income sources will be able to cover only 78% of benefits owed.
That means the next president could be faced with having to address Social Security’s shaky finances, which has long been considered a third rail in American politics. The issue could play a more prominent role in the 2028 presidential campaign if the projected expected insolvency date remains only a few years away.
The combined Social Security’s retirement and disability trust funds – are expected to be exhausted in 2034, the same as last year’s forecast, according to the trustees. At that time, payroll tax revenue and other income sources will be able to cover only 83% of benefits owed.
Merging the two trust funds would require an act of Congress, but the combined projection is often used to show the overall status of the program.
Social Security’s finances have long been troubled, largely because the nation’s population is getting older and living longer. The program will not run out of money, however, since current workers are paying payroll taxes, which support the programs.
The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
Social Security retirement trust fund will run dry in 2032 unless Congress acts News Channel 3-12.
Hence then, the article about social security retirement trust fund will run dry in 2032 unless congress acts was published today ( ) and is available on News channel ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Social Security retirement trust fund will run dry in 2032 unless Congress acts )
Also on site :
- Tuesday briefing: Is a social media ban in the UK enough to help protect young people?
- My 5-Year-Old Told Us What Grandpa Did to Him. Now My Husband Wants My Parents Out of Our Lives.
- Quote of the Day: Warren Buffett on How One Choice Can Change Everything