NASDAQ:FF 29 December 2025

June 10, 2026, 7:27 PM EDT. U.S. Social Security's retirement and survivor trust fund is forecast to be depleted by the fourth quarter of 2032, triggering a 22% cut in benefits unless Congress intervenes. The trustees cited declining birth rates, lower immigration, and tax law changes reducing revenues as key factors in the grim outlook. Combined retirement, survivor, and disability funds are expected to last until 2034, but would cover only 83% of promised benefits thereafter. The 12.4% payroll tax will continue funding benefits at a reduced level once reserves run dry. Policymakers face pressure to act quickly, as delays could force harsher cuts or higher taxes later. Medicare's hospital insurance fund is also projected to face shortfalls by 2033.