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Life Expectancy of Social Security Keeps Getting Shorter

Created on June 27, 2013

Life Expectancy of Social Security Keeps Getting Shorter

chart 1

1983 projection: Social Security solvent untilat least 2058

Trend since 1983: Social Security insolvent in 2024

YEAR PROJECTION MADE

PROJECTED NUMBER OF YEARS AWAY BEFORE SOCIAL SECURITY BECOMES INSOLVENT

In 1983, Social Security’s trustees projected that the recently enacted Social Security reforms would keep the program solvent for at least the next 75 years through 2058. However, over successive annual reports, that approach date has accelerated.  If the trend since 1983 continues, the program will become insolvent in 2024— 34 years earlier than originally projected.

Source: Heritage Foundation calculations based on data from Social Security Administration, The 2013 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, May 31, 2013, http://www.socialsecurity.gov/OACT/TR/2013/index.html (accessed May 31, 2013).

IB 3980

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