Social Security’s Looming Funding Crisis: A 2024 Analysis of the Trustees’ Report
Social Security’s Looming Funding Crisis: A 2024 Analysis of the Trustees’ Report The Social Security Administration’s annual report, released in 2024, projects a concerning depletion of the Old-Age and Survivors Insurance Trust Fund (OASI) by 2033. This projection remains unchanged from the previous year’s assessment. At this point, the report indicates that only 77% of scheduled benefits will be payable. The combined OASI and Disability Insurance (DI) trust funds are projected to be able to cover scheduled benefits and administrative…