Americans are continually encouraged to sock away money in a 401(k) or other retirement plan to ensure a comfortable, if not cushy, life in their later years. Yet about half of all U.S. workers in the private sector lack access to an employer-sponsored retirement plan, a huge obstacle in building enough wealth to retire, a…
Social Security is on track to deplete its trust funds by 2034, one year sooner than previously forecast, when the federal retirement program will be required to cut monthly benefits by about 20%. The new projection, issued Wednesday in the Social Security Board of Trustees’ annual report, is partly due to increased costs from the Social Security…
A Social Security Administration office in Washington, D.C., March 26, 2025. Saul Loeb | Afp | Getty Images The trust fund Social Security relies on to pay retirement benefits may be depleted in 2033, according to an annual report released by the Social Security Board of Trustees on Wednesday. That is unchanged from last year’s projections….
Sdi Productions | E+ | Getty Images Millions of Social Security beneficiaries received a 2.5% boost to their benefits in 2025, thanks to an annual cost-of-living adjustment that went into effect in January. In 2026, Social Security checks may go up by the same amount — 2.5% — based on the latest government inflation data,…
Older Americans are filing for Social Security benefits at a record rate this year, a surge that could reflect growing anxiety about the stability of the retirement system amid cutbacks under the Trump administration, experts say. The number of people claiming Social Security jumped 17% to 1.8 million this year through May compared with the…
