| NYC Business Group
Social Security benefit cuts could be coming — here’s who it will affect first
The Social Security Trust Fund could be depleted by 2031 as a result of the coronavirus pandemic and subsequent economic collapse, according to new projections — and today's youngest retirees could be among the first in the nation to see benefit cuts.
The non-partisan agency said in the report the Social Security fund could plunge from $2.8 trillion to $533 billion in 2030. It estimates the fund would run out the following year. The Social Security Disability Insurance program, meanwhile, is projected to run out in 2026. Find out More Information in This Article Fox 5 posted.