The Social Security Board of Trustees last week released its annual report on the financial status of the Social Security Trust Funds.
According to the 2025 Trustees Report, the combined trust funds that pay retirement, survivor, and disability benefits are projected to fall short of fully covering payments by 2034.
“The OASI Trust Fund is projected to become depleted in 2033, the same year as last year’s estimate, with 77 percent of benefits payable at that time,” the Social Security Administration wrote in a press statement. “The DI Trust Fund reserves are not projected to become depleted during the 75-year projection period. If Congress does not act, combined trust fund reserves are currently projected to become depleted in 2034. At that time, there would be sufficient income coming in to pay 81 percent of scheduled benefits.”
The Senior Citizens League (TSCL), one of the nation’s leading nonpartisan advocacy groups for seniors, is urging Congress to take action.
“The projected shortfall in Social Security, highlighted in the 2025 Trustees Report, is a looming crisis that demands immediate attention,” TSCL wrote in a press statement. “With the trust funds set to be unable to fully cover benefits in less than 10 years, millions of retirees, disabled Americans, and survivors who rely on Social Security could face deep reductions in their monthly checks. TSCL urges Congress to adopt fair, phased-in reforms. If Congress waits, it may be forced into crisis decisions, risking steep cuts or tax hikes.”
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To view the Trustees Report, go here.