Social Security cuts in benefits?
Terry I wanted add something to my question asked yesterday that I sent you. I meant to add that my concern is also that there is a very real threat that there may be a 23% reduction in benefits in the coming years around 2034 and should bets be hedged in taking Social Security early or do you think that certain recipients of benefits with be grandfathered in?
Terry Says
That all depends on what Congress does. Both political parties understand the implications of letting the Social Security trust fund be depleted.
I asked that question — about would everyone get the same percentage reduction if the trust fund is depleted — of the Chief Actuary of SS. The response was: “that would depend on what the Trustees decide.”
I hope it won’t come to that.
