8 Positive Findings Hiding in the Social Security Trustees Report

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The Social Security trustees released their annual report Monday, warning that the main trust fund used to support the payment of retirement benefits will run dry in 2033.

Collectively, the funds for both Social Security and disability payments are set to become depleted and unable to pay scheduled benefits in full on a timely basis two years later, in 2035. At that time, barring any congressional action, tax revenue used to fund both programs is expected to cover only 83% of scheduled benefits.

Comments shared with ThinkAdvisor following the report’s publication called on lawmakers to more forcefully confront the uncomfortable truth that working Americans are increasingly worried about — that Social Security is on an unsustainable financial path. Concerned stakeholders point out that we are just nine years away from significant cuts to Americans’ already-modest benefits.

It’s rational to focus on the report’s most concerning findings, but it is also important to highlight some pieces of good news hiding in the analysis. For example, the strength of the job market means that more people are contributing to the program via payroll taxes, and that has had a real, if modest, effect on Social Security’s funding outlook.

See the accompanying slideshow for eight of the more positive findings from the report.

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