2017 Social Security Trustees Report: The 5 Things You Need to Know
Americans rely on Social Security, but its financial future has been unclear for a long time. Every year, it's the responsibility of the Social Security Trustees to report on the health of the Social Security Trust Funds, which hold the assets that will help fund future retirement benefits for Social Security recipients. Once again, the trustees missed their statutory deadline and were three and a half months late getting the 2017 Social Security Trustees Report done. The report, which you can access by PDF here, is 269 pages long, but the most important aspects confirm most of what those who've followed Social Security in the past have seen for years.
Most of the headline numbers regarding Social Security stayed the same as they've been for a couple of years now. The 2017 report repeated its previous projections that the combined overall trust fund reserves will be depleted in 2034. When you look solely at the Old Age and Survivors Trust Fund, which covers the Social Security benefits that older Americans and their families receive, 2035 is still the date at which that portion of the overall program will run out of money.
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Source: Fool.com
