• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Naptown Buzz
  • About
  • Contact

Buzzed Report

More Links Than You Can Shake A Stick At

  • Home
  • Oddness
    • Animals
    • Insects
    • Conspiracy
    • Naked in the News
    • Occult
  • Food
    • Recipes
  • Sports
    • Baseball
    • Basketball
    • Fishing
    • Football
    • Hockey
    • MMA
    • Racing
    • Rugby
    • Soccer
  • Entertainment
    • Television
    • Movies
    • Music
  • Business & Finance
  • Science
    • Medicine
    • Space
  • News
    • COVID-19
  • Politics

COVID-19 Kills Social Security?

Posted: September 4, 2021

The Social Security trust fund most Americans rely on for their retirement will run out of money in 12 years, one year sooner than expected, according to an annual government report published Tuesday.

The outlook, aggravated by the Covid pandemic, also threatens to shrink retirement payments and increase health-care costs for older Americans.

The Treasury Department oversees two Social Security funds: The Old-Age and Survivors Insurance and the Disability Insurance Trust Funds. Those programs are designed to provide a source of income respectively to former workers who have retired at the end of their careers or to those who cannot work due to a disability.

Officials said that the Old-Age and Survivors trust fund is now able to pay scheduled benefits until 2033, one year earlier than reported last year. The Disability Insurance fund is estimated to be adequately funded through 2057, eight years earlier than in the report published in 2020.

Read this at CNBC Link opens in new window.

SOURCE URL
https://www.cnbc.com/2021/08/31/social-security-trust-funds-set-to-be-depleted-sooner-than-expected.html

Tags: CNBC, Social Security Category: Politics

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Indiana Chronicle
Naptown Buzz

Recent Links

  • Printable Indianapolis 500 Starting Lineup 2022
  • Lavrov says Russia will continue Ukraine war till ‘the end’
  • Alien Organisms Could Contaminate Earth
  • Texas Bans All COVID-19 Vaccine Mandates
  • Fully Vaccinated Michigan Couple Dies From Breakthrough COVID-19
September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  
« Aug   Oct »

Archives

Copyright © 2022 Naptown Buzz LLC