The Reformer An Interactive Tool to Fix Social Security

Social Security provides vital income security to millions of beneficiaries, but is on a road toward insolvency. The Social Security program currently pays more in benefits than it collects in revenue, and under the latest official projections its trust funds will run out in 2034. At that point, all beneficiaries regardless of age and income will face an immediate 22 percent benefit cut.

CRFB’s “The Reformer” allows users to choose from a number of options to modify Social Security tax and benefit levels in order to close the program’s 75-year shortfall and keep it sustainable for future generations.

See how your choices stack up!

See our methodology for this calculator

 

Social Security remains insolvent. The trust fund will run out in 2034 at which point all beneficiaries will face a sudden 22% benefit cut.

0%
Percent of 75-year shortfall closed
(0% of shortfall closed in 75th year)
% of gap closed
info

%
0%

55%
36%
11%

12%
18%
37%

19%
59%
-13%
% of gap closed
info

7%
3%
-3%

-4%
-5%
-2%

8%
14%
8%
% of gap closed
info

%
0%

57%
23%
19%

7%
11%
6%

7%
-3%
0%

Trust Fund Projections
Percent of Annual Benefits

Baseline (Solid)
After Policy Changes (Dashed)

 

 

Social Security Spending & Revenue
Percent of Payroll (based on scheduled benefits)

Baseline Outlays (Solid,Dark/Blue)
Outlays After Policy Changes (Dashed,Dark/Blue)
Baseline Revenues (Solid,Light/Red)
Revenues After Policy Changes (Dashed,Light/Red)