Social Security benefits were last reformed roughly 40 years ago, when the federal government raised the eligibility age for the program from 65 to 67.
WASHINGTON (AP) — Social Security’s retirement trust fund is projected to face a funding shortfall in 2032, a year earlier than last year’s projections, according to an annual report released Tuesday, while Medicare’s hospital insurance trust fund will be unable to pay full benefits in 2033, which is unchanged from last year’s estimate.
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