If Congress doesn't act to address the long anticipated shortfall, millions of Americans would receive a sharp cut in retirement benefits.
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The Social Security trust fund is on track to run out of money in late 2032, its trustees said in a new report Tuesday, three months sooner than projected last year.
Why it matters: If Congress doesn't act to address the long anticipated shortfall, millions of Americans would receive a sharp cut in retirement benefits.
Report: Social Security retirement trust fund to deplete by 2032 - UPI.com
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Social Security’s retirement trust fund is projected to face a funding shortfall in 2032, a year earlier than previously expected
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