What Social Security’s Shortfall Means for You
The Social Security trust fund is set to run dry by 2035, according to a recent trustee report.
Workers and retirees have long been warned that Social Security’s trust fund will run out of funds sometime in the future, and that the program has many trillions of dollars in unfunded obligations.
But what does this year’s 2019 Trustees Report, revealing $16.8 trillion in unfunded obligations over the next 75 years and insolvency in 2035, mean for current workers and retirees? (The $16.8 trillion figure includes the $13.9 trillion 75-year unfunded obligation, plus $2.9 trillion in trust fund IOUs that represent additional debt.) -- More....
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