For years, Social Security’s funding problem sounded far enough away that retirees could reasonably wonder whether Congress would ever do anything about it. That luxury is disappearing: the 2026 Social Security Trustees Report projects that the Old-Age and Survivors Insurance Trust Fund will be able to pay full scheduled benefits only until the fourth quarter of 2032 under current law. At depletion, ongoing income would cover about 78% of scheduled retirement and survivor benefits, although Congress could change the law before then. That doesn’t mean a 22% reduction has been approved or that everyone’s check is scheduled to suddenly fall by exactly that amount, but it does mean lawmakers face increasing pressure to address the shortfall.
These six Social Security proposals show how differently Congress could approach the problem and how some ideas could affect retirement checks long before the reserves actually run out.
