The 2024 Social Security Trustees report was released on May 6th - (

Of particular interest to our users are the estimates for the longevity of the Old-Age and Survivors Insurance (OASI) and combined Old Age Survivors and Disability Insurance (OASDI) trust funds and the estimates for the percentage of benefits that are expected to remain payable after trust fund depletion.  This year's report has the OASI trust fund depletion date remaining at 2033, but the estimate of the benefits payable increased to 79% (a 21% benefit cut) from 77% in last year's report. 

Social Security Timing Update

We've updated the default assumptions for the "Benefit Cut" scenario in the Social Security Timing® software with these new figures, but keep in mind that you are able to change the defaults.  If you would prefer to use the combined OASDI trust fund depletion date of 2035 and 83% (a 17% benefit cut), you can edit those assumptions on the Social Security benefit estimate data entry screens. 

Income InSight Update

The benefit cuts stress test in Income InSight has also been updated to reflect the 21% benefit cut in 2033.