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business man kicking can down road If lawmakers continue to kick the can down the road, and wait until the trust fund is exhausted in 2034 to enact funding reforms, future solvency would require a nearly 4 percent increase in payroll taxes. (Photo: Shutterstock)

Social Security’s asset reserves in the Old-Age and Survivors Insurance program are projected to be exhausted by 2034, one year sooner than was projected last year, according to the Social Security Administration’s 2018 Trustee report.

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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