Social Security needs a major overhaul to ensure it lasts, and every day that's put off, it grows more costly for Americans.
First, previous estimates had Social Security's trust funds running dry in 2034. This year's report pushes that depletion ...
This year's Trustees Report also indicates that once Social Security's trust funds are depleted, the program should be in a ...
On May 6, 2024, Secretary of the Treasury Janet Yellen co-authored a letter alerting Congress that the OASI Trust Fund ...
The program relies primarily on payroll taxes to fund benefits, and that money is then funneled out to current beneficiaries.
The figure for projected benefit cuts has also moved significantly, depending on fluctuating economic conditions and other ...
Social Security's COLA isn't keeping pace with inflation. But with the trust fund already in danger of running out of money ...
A small tax increase would make the essential national retirement program secure for decades, our columnist says, but ...
The projected depletion dates for Medicare and Social Security have been delayed according to the annual trustees report ...
One disappearing option is the chance to invest a portion of trust fund reserves in equities, Munnell says, noting this is an ...
Social Security recipients are set to receive an extra $60 a month next year to help with the soaring cost of living , new ...
Currently, only wages up to a certain amount ($168,600 in 2024) are subject to the 12.4 percent Social Security payroll tax.