Trustees Report on the Social Security Trust Funds

On June 5, 2018 the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. Social Security is NOT going bankrupt.

The OASI Trust Fund (retirement and survivors’ benefits) is projected to become depleted in late 2034, as compared to last year’s estimate of early 2035, with 77 percent of benefits payable at that time. The DI Trust Fund (disability benefits) will become depleted in 2032, extended from last year’s estimate of 2028, with 96 percent of benefits still payable.

With no action from Congress, Social Security can continue to provide 100% of the retirement benefits people are owed until 2034. After that, even if absolutely no changes were made, beneficiaries would still receive 77% of their benefits. People receiving disability benefits will get their full benefit check until 2032 and, if Congress makes no changes, they will receive 96% of their benefits thereafter.

You can read the entire report by clicking here.

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