Lawmakers have yet to agree on a solution to looming insolvency of Social Security beyond 2033
In their annual report released in May, the Social Security Trustees pushed back the expected depletion date of the program’s OASDI (retirement & disability) trust fund from 2034 to 2035, at which point they will only be able to pay out 83% of owed benefits. While this allows Congress some extra time to find a solution to keep Social Security solvent, experts warn—and have been warning for decades—that the longer Congress waits, the more severe the fixes will need to be.
On June 4…
Thanks so much, Alissa! This is a well-written and thorough article and I hope we all read it at least once. I will read it again and again – every time I need talking points. I will recommend it to our Chapter 21 members!