Social Security now expected to run short on funds in 2035, one year later than previously projected, Treasury says

A report released yesterday shows that the trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected. On the projected depletion date, 83% of benefits will be payable if Congress doesn’t act sooner to prevent that shortfall. The Social Security trustees credited the slightly improved outlook to more people contributing to the program amid a strong economy, low unemployment and higher job and wage growth.