The Social Security shortfall date just moved a little bit nearer.
New federal projections, released on June 18, show that the combined Social Security trust funds will pay 100% of benefits until 2034 before becoming depleted. That date is one year earlier than the Social Security Administration reported a year ago.
“As in prior years, we found that the Social Security and Medicare programs both continue to face significant financing issues,” program trustees wrote in a summary of their 2025 annual report.
The Social Security Administration faces a funding crisis in the not-so-distant future. Trustees say the projected shortfall in retirement benefits has risen to $25.1 trillion through 2099, up from $22.6 trillion a year ago.
The Old-Age and Survivors Insurance (OASI) Trust Fund, which pays benefits to retirees and their families, is projected to pay total scheduled benefits until 2033, according to the new report.
