Social Security Retirees Just Got Some Good News About Future Benefit Cuts
For a long time, the Social Security Trustees have been warning that the retirement benefits system is facing some future financial hardships.
Specifically, Social Security is paying out more than it's collecting and making up the difference from its trust fund. This can't last forever, and at some point, the fund is going to run dry. That would mean Social Security would be able to rely only on revenue it's currently collecting. Since that's not enough to pay everything promised, this would necessitate a benefit cut.
The most recent Trustees Report reaffirmed the fact that future cuts are a possibility. But it also contained some good news for retirees. Here's why.
Source Fool.com
