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Story summary
- Social Security Administration (SSA) Commissioner Frank Bisignano said Social Security will last another 90 years despite trust-fund depletion.
- Social Security's main trust fund is projected to run out in 2032, reducing benefits to 78% of amounts.
- The Congressional Budget Office forecasts average annual benefit cuts of 28% from 2033 through 2036.
- The Committee for a Responsible Federal Budget estimates a 24% cut would lower a retiring couple’s benefits by $18,400.
