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Social Security has trust funds it can use to keep up with its benefit payments during this time. But the most recent Trustees report has the program's trust funds being emptied by 2035.
Based on the projections above, that cut would mean a drop in average monthly Social Security benefits from $2,321.94 to $1,787.89. Social Security Cuts: States That Would Be Impacted The Least ...
Social Security is a very fluid program that undergoes frequent changes that can impact your monthly benefit payments -- for good or for ill. Some of these changes are already built into the ...
Today, Americans are living on average 14 years longer than when the Social Security Act was enacted in 1935 and retiring three years earlier -- spending an average of 20 years in retirement....
Social Security benefits are based on income during your 35 highest-earning years — and men have historically earned more than women, even when they worked the same jobs. Higher earnings mean ...
As early as 2033, Social Security benefits may be cut by as much as 23% without Congressional intervention. This is due to the way that Social Security is structured. Program rules require money ...
Proposals to address a looming Social Security budget shortfall tend to take two forms: reduce benefits to save money, or increase revenue to help fill in the funding gap. In either case, Social...
Image source: Getty Images. Social Security can tap its trust funds for a period of time to keep paying benefits and avoid cuts. But once those trust funds run dry, benefit cuts might have to happen.
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related to: social security benefit cuts 2016 form pdf fillable instant download