Some high-earning married couples may now be receiving about $100,000 per year or even more in Social Security retirement benefits, a new analysis finds.
To help curb the funding shortfall Social Security currently faces, policymakers could opt to cap benefits at $100,000 for married couples, or $50,000 for individuals, according to the research from the Committee for a Responsible Federal Budget, a Washington, D.C., think tank.
The trust funds Social Security relies on to help pay benefits face depletion dates in the next decade. Most imminently, the trust fund devoted to retirement benefits is due to run out in 2032, at which point just 24% of those benefits may be payable, according to the latest projections from the Social Security Administration.
“There’s basically a trust fund crisis in the near horizon,” said Marc Goldwein, senior vice president and senior policy director at the CRFB.
Even if the trust fund is depleted, money will continue to come into Social Security through payroll taxes. Employers and employees each pay 6.2% toward the program, up to a taxable maximum, on wages and salary earnings. In 2026, that limit is $184,500.
