Social Security will be there for the younger generation, but they should prepare to only get 75 percent of what retirees get now. (Photo: iStock)

Social Security is like a Rorschach Test. Some look into the federal retirement program’s future and see nothing but doom and gloom: It is bankrupt, economically untenable, and fiscally unsustainable. Others see a solid institution — the strongest cords of America’s safety net — that just needs a few tweaks, maybe even an expansion.

The Social Security Administration on Wednesday released its annual trustees’ report, giving us a look at its finances. The trustees, including Treasury Secretary Jacob Lew, estimate that the Social Security trust fund will run out of money in 2034. But don’t expect this to settle any debates.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.