Will you get all promised
This report covers Old Age and Survivor (OASI) Social Security. Disability Insurance (DI) is accounted separately. OASI has a trust fund. By law, a yearly report issued by the Fund Trustees.
The trust fund has never been actuarially sound, that is the funds available today have never been sufficient to pay for all the benefits promised out for the full 75 years that actuaries traditionally count such things.
If the trust fund ever runs out, significant benefit cuts happen automatically. In this report, the Social Security life expectency tables are used to calculate who will be affected.
According to the most recent official data we have, will you have to scramble to fill a hole in your household budget? How big will the hole be and when will it happen?
|Most recent Trust Fund Report:||2013|
|Estimated depletion of OAS trust fund:||2035|
|Estimated cut amount:||23%|
|First birth year that will be affected by the cuts. If you were born on this year or later, present law cuts your Social Security:|