{"id":44341,"date":"2026-06-03T17:15:08","date_gmt":"2026-06-03T17:15:08","guid":{"rendered":"https:\/\/financialrush.com\/?p=44341"},"modified":"2026-06-03T17:15:08","modified_gmt":"2026-06-03T17:15:08","slug":"social-security-trust-fund-shortfall-may-mean-500-a-month-cuts-report","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=44341","title":{"rendered":"Social Security trust fund shortfall may mean $500-a-month cuts: Report"},"content":{"rendered":"

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Ascent\/pks Media Inc. | Photodisc | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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The trust funds that Social Security<\/a> relies on to help pay benefits are running low.<\/p>\n

Based on Social Security Administration <\/a>estimates<\/a> from August, the trust fund dedicated to retirement benefits is projected to run out in 2032, when those benefits would need to be reduced by 24%. The annual Social Security trustees report, which gauges these timelines, is expected to be released this month.<\/p>\n

In a new report<\/a>, the Committee for a Responsible Federal Budget finds that an immediate 24% benefit cut once that trust fund runs out would result in an average monthly cut of $500 for retirees.<\/p>\n<\/div>\n

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Read more CNBC personal finance coverage<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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But in 29 states, the monthly benefit reductions would be even higher, according to the nonpartisan organization, which focuses on educating the public about fiscal policy issues.<\/p>\n

Connecticut beneficiaries would see the highest average monthly benefit cut of $556, according to CRFB\u2019s report. The remainder of the top 10 are:<\/p>\n