The 2019 Trustees Report on the financial outlook of Social Security is actually more positive than negative, finds a Center for Retirement Research at Boston College study.
The 2019 Trustees Report found Social Security funds are expected to be depleted by 2035, but the good news is, that’s actually a year later than what was stated in the 2018 report. Center for Retirement at Boston College researchers say the 2019 Trustees Report confirms what has been evident for almost three decades. Social Security is facing a long-term financing shortfall, but the report shows a slight improvement in the Social Security’s 75-year finances. The deficit is projected at 2.78 percent of taxable payrolls in 2019 compared to 2.84 percent in 2018.