Every year, the Social Security Board of Trustees releases a report detailing the current status of the program and its outlook for the future. The report includes details on everything from the state of Social Security's trust funds to projected COLAs to the program's operating ...
For more details, I was referring to the latest Trustees Report, published yesterday by the Social Security Administration. Most people, when that annual report is released, focus on when the Social Security Trust Fund runs out of money. But since the Trust Fund only contains IOUs, I view th...
In its 2024 report, the Social Security Board of Trustees estimated that reserves in the retirement fund (OASI Trust Fund) will become depleted in 2033. This was unchanged from the previous year's projection. Ongoing tax revenue will be enough to pay only 79% of scheduled benefits after that...
The Social Security Trustees Report contains high, low, and intermediate projections. Unless otherwise stated, this research cites the intermediate figures, because these “reflect the Trustees’ best estimates of future experience.”[4] Overview * In 1935, Congress passed and Democratic President ...
The trust funds swung to an annual funding shortfall in 2021, and deficits are expected to grow in 2024. The 2024 Social Security Trustees Report projected that Social Security trust funds will be depleted on a combined basis in 2035.
The 2022 Social Security Trustees ReportSchobel, Bruce D.Journal of Financial Service Professionals
The retirement trust fund will be able to pay 79% of scheduled benefits after 2033, according to the 2024 Social Security trustees report. If the funds were combined, 83% of scheduled benefits could be paid after 2035. Sponsored Bank Accounts ...
(See CRS Report R40082, Medicare Part B: Enrollment and Premiums.) The share of non-LIS enrollees in Part D drug plans who had their Part D premiums withheld from their Social Security benefit payments was 22% in 2021 and 2022 and 21% in 2023. (See Boards of Trustees of the Federal ...
The actual size of the benefit cut would vary for American retirees, depending on their age, work history, and lifetime incomes, the report notes. "For example, a low-income, dual-income couple retiring in 2033 – as defined by the Social Security Trustees – would see a $10,000 cu...
(2023 Social Security Board of Trustees, Press Release, 3-31-2023;The 2023 OASDI Trustees Report, Table V.C.1.) In reviewing the following charts, keep in mind that the SSA provides three estimates — high, intermediate and low. For 2023, the actual wage base is $160,200, higher t...