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Senate to Examine Social Security as Trust Fund Crisis Nears

Social Security's retirement trust fund is projected to run out of reserves in 2032, putting the future of full retirement benefits at the center of a Nov. 18 Senate hearing. ​ The latest Social Security trustees' report projects that the Old-Age and Survivors Insurance (OASI) Trust Fund will exhaust its reserves in the fourth quarter of 2032. Without congressional action, continuing payroll tax revenue and other income would cover just 78% of scheduled retirement and survivor benefits. The combined retirement and disability trust funds, meanwhile, are projected to exhaust their reserves in…

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