Closing the Social Security Funding Gap

April 21, 2022

According to the 2021 Social Security Trustees Report, the reserves that help fund Social Security retirement and disability benefits will be depleted in 2034, one year earlier than last year's projection due to the pandemic. At that time, the program will be able to pay only 78% of scheduled benefits. Numerous bills have been introduced to address the shortfall, but lawmakers have stalled because potential fixes require increased taxes and/or benefit reductions. The chart below shows the estimated percentage of the 75-year Social Security funding gap that would be closed by some proposed changes.

social-security-chart

All Securities Through Money Concepts Capital Corp., Member FINRA / SIPC

11440 North Jog Road, Palm Beach Gardens, FL 33418 Phone: 561.472.2000

Copyright 2010 Money Concepts International Inc.

Investments are not FDIC or NCUA Insured

May Lose Value - No Bank or Credit Union Guarantee

This communication is strictly intended for individuals residing in the state(s) of MI. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2020.

A woman is looking at her cell phone with a surprised look on her face.

Peer-to-Peer Payments Are Popular, but Be Careful

May 17, 2025
Most P2P transactions go smoothly, but what happens when something goes wrong?
A close up of a stock chart on a computer screen.

Fine-Tuning with Sector Funds

May 17, 2025
Stocks in the S&P 500 are classified by 11 sectors, each of which responds differently to market conditions.
A man and a woman are sitting at a table talking to a woman.

Will You Pay a Medicare Surcharge?

May 17, 2025
Medicare is a federal program that provides health insurance to retired individuals, regardless of their medical condition, and certain younger people with disabilities or end-stage renal disease.
A man in a purple suit is holding shopping bags in front of a store window.

State and Local Sales Tax Across the Map

May 17, 2025
Among the 46 states (and the District of Columbia) with a state and/or local sales tax, the combined state and average local sales tax rates range from about 1.8% to 10.2%.
Show More