Social Security's financial outlook

Munnell, Alicia Haydock. “Social Security's financial outlook”. Issue in Brief 24-11, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, May 2024. http://hdl.handle.net/2345/bc-ir:110140.
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Abstract

The brief's key findings are:(1) The 2024 Trustees Report showed a slight drop in the 75-year deficit, but the depletion date for the retirement trust fund remains at 2033. (2) The prospect of a 21-percent benefit cut only 9 years away should focus our attention on restoring balance to the program. (3) Further delay has real costs: options like investing part of the trust fund in equities are disappearing as the trust fund slides towards zero; the burden of tax increases or benefit cuts fully shifts to Millennials and subsequent generations; and waiting creates a crisis, so any fix should include automatic adjustments to restore balance so we never get in this mess again.

Title
Social Security's financial outlook: The 2024 update in perspective
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
May 2024
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
24-11
Persistent Link
http://hdl.handle.net/2345/bc-ir:110140
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Social Security

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