Social Security OASI trust fund faces exhaustion by 2032
Updated
Updated · The Motley Fool · Apr 30
Social Security OASI trust fund faces exhaustion by 2032
13 articles · Updated · The Motley Fool · Apr 30
The new CBO projection is one year earlier than last year's trustees estimate and implies benefit cuts of about 28% from 2032 to 2036 if payouts match revenue.
The report says Social Security is not running out of all money, but incoming payroll taxes would no longer cover scheduled old-age and survivors benefits.
The shortfall reflects fewer workers per beneficiary as Americans live longer and retire earlier, while possible fixes include higher payroll taxes, lifting the taxable earnings cap or raising retirement age.
Can a government-run investment fund solve the Social Security crisis, or is it an unacceptable financial gamble?
Could claiming Social Security at 62 and investing it be a smarter financial move than waiting until age 70?