The Social Security Administration told Congress on Tuesday that the trust fund to pay retirement benefits could run out in late 2032.

A trust fund that helps to finance Social Security benefits is expected to run out of money in less than seven years — unless Congress acts to patch the system before that.

A new tax law, declining fertility and falling immigration are reducing revenue into the retirement trust fund.

Tens of millions of retirees and other Americans could see smaller monthly Social Security checks in six years if lawmakers don’t act to shore up the program’s finances, according to an annual report released Tuesday by Social Security’s trustees.

The Social Security trust fund is on track to run out of money in late 2032, its trustees said in a new report Tuesday, three months sooner than projected last year. Why it matters: If Congress doesn't act to address the long anticipated shortfall,

The Social Security Administration has released a report with new projections as to when the trust funds that help pay benefits may be depleted.

Social Security's retirement trust fund will be depleted in 2032, triggering an automatic 22% reduction in benefits for about 70 million Americans unless Congress acts, federal

Unless Congress acts, 1 in 5 Americans who receive Social Security could see an across-the-board benefit cut of roughly 22% starting in 2032.