Social Security trust fund to run dry in 2032, trustees warn
Federal trustees warned Tuesday that the retirement trust fund will be exhausted in 2032, triggering an automatic 22% cut to benefits for roughly 70 million Americans unless Congress intervenes.
Federal trustees warned Tuesday that Social Security's retirement trust fund will be depleted in 2032. If Congress does not act, benefits for about 70 million Americans would be automatically reduced by about 22%.