Social Security funds to run out in 2032

Newsweek -   The trust fund that pays Social Security Administration (SSA) retirement and survivor benefits is now projected to run out of money sooner than expected, according to a new federal budget analysis. A new report from the Congressional Budget Office (CBO) shows the Old-Age and Survivors Insurance (OASI) Trust Fund is now on track to be depleted in 2032, a year ahead of earlier projections.

Roughly 70 million Americans receive SSA benefits, making it one of the most significant sources of retirement income in the United States. For many retirees, it represents the majority of their monthly income, meaning even partial cuts could pose significant financial consequence.