A new trustees report says the retirement fund runs out in six years.
The June 2026 Trustees report moved the depletion date forward from early 2033.
Once reserves run dry, payroll taxes cover only 78% of promised benefits.
The average retired worker got $2,087.52 a month in August 2026.
Social Security is the main income for 43% of seniors, per AARP.
More than one in five Americans are unaware of the looming cut, a TIAA survey found.
A maximum earner retiring after 2032 could lose that much yearly, CNBC reported.
Options include raising the payroll tax rate or lifting the wage cap.
The taxable wage cap rises from $184,500. Removing it could raise trillions.
Senators elected this November will still be serving in 2032.
The 1983 deal raised the retirement age to 67 and increased payroll taxes.
See exactly what the cut means for your check. Tap below to read the article.
Get the full breakdown, key numbers, and what happens next.
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