Hi Larry - If the Social Security Trust Fund runs out of money around 2034, would any resulting cut in benefits also apply to current Social Security recipients, or are they legally protected from benefit cuts? I.e., would the cuts only apply to new enrollees?

Thank you

Hi. There is no current regulation governing benefit cuts, because there is no precedent for anything like that. If it ever came to pass that benefit cuts were required due to inadequate funding, Congress would need to pass a law establishing the amount of the reduction and to whom the reductions would apply.

Best, Jerry