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collage of blue Social Security cards (Photo: Shutterstock)

The Social Security Old-Age and Survivors Insurance Trust Fund is on track to be depleted by 2033, a year earlier than estimated in 2020, with 76% of benefits payable at that time, according to the just-released 2021 Social Security Board of Trustees’ report, which typically is released in April.

The Disability Insurance Trust Fund, meanwhile, is projected to be able to pay scheduled benefits until 2057, eight years earlier than last year’s projection. At that time, the report states, the fund’s reserves will be depleted and continuing tax income will be able to pay 91% of scheduled benefits.

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