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Story summary
- More than 55 million Americans rely on Social Security retirement benefits.
- The Old-Age and Survivors Insurance Trust Fund could deplete by 2033, risking a 23% benefit cut.
- The workers-to-beneficiaries ratio is 3:1 in 2024, down from 5:1 in 1960.
- Solvency options include a 29% payroll-tax increase or a 22% benefit cut.
- Up to 85% of Social Security benefits may be taxable based on income.
