Social Security: Newly Retired Couples May Lose $17K A Year From 2033

The Social Security Board of Trustees projects that the Old-Age and Survivors Insurance Trust Fund reserves will be depleted by the fourth quarter of 2032. Consequently, a new analysis by the Committee for a Responsible Federal Budget estimates that newly retired couples could face annual losses of $17,000 starting in 2033. Certain states are expected to see a higher impact from these benefit cuts as the federal trust fund reaches its projected exhaustion point.