Social Security Old-Age and Survivors Insurance Trust Fund Could Be Depleted by End of 2032
- 1The Social Security Administration trustee reported that the Old-Age and Survivors Insurance (OASI) trust fund could be depleted by the end of 2032.
- 2Social Security benefits are projected to decrease to 78% of their current level if the trust fund is exhausted.
- 3Retirement planning should be strengthened in preparation for the expected 22% reduction in Social Security benefits.
So what's the key point?
The Social Security fund could run out by the end of 2032. Since benefits could decrease by 22%, it is important to prepare more thoroughly for retirement.
Source The Motley Fool +2 · View original ↗
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