![\"\"](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/09\/social-security-checks.jpg\")
article <\/p>\n article <\/p>\n
FILE-In this photo illustration, a Social Security card sits alongside checks from the U.S. Treasury on October 14, 2021 in Washington, D.C. (Photo illustration by Kevin Dietsch\/Getty Images) <\/p>\n
The Trump administration is reportedly considering many options to avoid Social Security insolvency, which includes raising the retirement age.\u00a0<\/p>\n
When asked if he would consider raising the retirement age during a FOX News interview on Thursday, Social Security Administration Commissioner Frank Bisignano said, “I think everything\u2019s being considered, will be considered.”<\/p>\n
Could Social Security reach insolvency? <\/p>\n
Why you should care:<\/p>\n
FOX Business<\/a>, citing Social Security Administration data, reported that Social Security\u2019s two main trust funds, the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) funds, are projected to reach insolvency by 2034.\u00a0\u00a0<\/p>\n This is partially due to the number of workers to retirees has dropped over time from 16.5 workers per retiree in 1950, to 3.3 in 1985, and 2.8 in 2013.<\/p>\n When the trust funds are exhausted, the Social Security program may experience an automatic benefit cut by law to match incoming payroll tax receipts unless Congress improves the program.<\/p>\n RELATED:<\/strong>\u00a0Social Security changing course in going after overpayments<\/strong><\/a><\/p>\n Analysis from the Committee for a Responsible Federal Budget noted that insolvency would leave Social Security beneficiaries with an estimated 24% benefit cut.\u00a0<\/p>\n FOX Business reported that Social Security’s trustees project that Congress would need to increase payroll taxes by 3.65 percentage points permanently to close the program’s 75-year funding gap.<\/p>\n What they’re saying:<\/p>\n Social Security Administration Commissioner Frank Bisignano also explained that it will take a collective effort between the Trump administration and Congress to begin the “real work” on Social Security reforms to avoid depleting funds in the program.<\/p>\n The Source:<\/b> Information for this story was provided by FOX Business, which cites comments from a FOX News interview with Social Security Administration Commissioner Frank Bisignano and data from the Social Security Administration. This story was reported from Washington, D.C.<\/p>\n Personal Finance<\/a>Consumer<\/a>News<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"article FILE-In this photo illustration, a Social Security card sits alongside checks from the U.S. Treasury on October…\n","protected":false},"author":3,"featured_media":240189,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,2436,50,255,67,132,68],"class_list":{"0":"post-240188","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-consumer","10":"tag-news","11":"tag-personal-finance","12":"tag-united-states","13":"tag-unitedstates","14":"tag-us"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/240188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=240188"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/240188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/240189"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=240188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=240188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=240188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}