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Updated forecast moves depletion date up a year - 401K Specialist
The Congressional Budget Office (CBO) reported in February that now Social Security’s Old-Age and Survivors Insurance Trust Fund—the primary fund that pays benefits to retired workers, their families, and some survivors of deceased workers—will be exhausted in 2032. It should be noted that the Social Security Administration (SSA) wouldn’t stop administering benefits if the trust fund reserves are depleted; the agency could be forced to dramatically trim the amount it pays to beneficiaries, unless Congress passes Social Security reform. Brian Anderson, writing for 401K Specialist, reports on the updated forecast of depletion date of the Social Security Trust Fund. Read Mr. Anderson’s article here…
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