Americans who depend on Social Security may have to prepare for changes sooner rather than later, according to WDNews.
One year ahead of last year’s prediction, the Social Security Board of Trustees now predicts that the combined trust funds for retirement and disability benefits may run out by 2034.
According to a revised projection published in the Trustees 2025 Annual Report, starting in 2034, just 81% of planned benefits could be paid unless Congress acts. The Disability Insurance (DI) Trust Fund is not anticipated to run out of money in the next 75 years, however the Old-Age and Survivors Insurance (OASI) Trust Fund is still anticipated to run out in 2033.
According to Social Security Commissioner Frank Bisignano, the Trump Administration continues to place a high premium on the trust funds’ financial health. To safeguard and fortify the trust funds for millions of Americans, Congress, the Social Security Administration, and others must cooperate.
The report’s other main conclusions are as follows:
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Social Security paid out $1.47 trillion in benefits in 2024 to around 68 million Americans.
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Income to the combined trust funds totaled $1.42 trillion, while expenditures reached $1.48 trillion resulting in a $67 billion decline in reserves.
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The projected 75-year actuarial deficit has grown to 3.82% of taxable payroll, up from 3.50% in last year s report.
Administrative costs were only 0.5% of overall spending, which was modest despite growing costs. Legislators are under increasing pressure to stabilize Social Security before automatic benefit cuts take effect, as about 184 million Americans will be contributing to the program through payroll taxes in 2024.
You can get the complete report at www.socialsecurity.gov/OACT/TR/2025.
