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Social Security is projected to face benefit cuts starting in 2032
The report notes Social Security funds are on track to run short by 2032, which would mean reduced benefits for retirees.
The New York Times Business reports that Social Security Trust Funds are on track to run short by 2032, raising the risk of reduced benefits.
It then compares how four hypothetical retirement households at different income levels would rely on Social Security in retirement, using those scenarios to illustrate the potential impact of a shortfall.
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