5 little-known facts about Social Security

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How broke is Social Security?
How broke is Social Security? © Champion studio/

How broke is Social Security?

According to the 2015 annual report from the Social Security Board of Trustees on the financial status of the program, without policy changes, the combined Social Security trust funds will begin declining in 2020 until reserves become depleted in 2034. After that, Social Security could pay 79% of scheduled benefits through 2034, declining to 73% by 2089.

The year that funds fall short varies somewhat in each annual report depending on economic, demographic and other variables, according to the Center on Budget and Policy Priorities, but it has ranged between 2029 and 2042 for the past two decades.


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