Social Security To Run Out Of Money By 2041

The U.S. social security system is the largest government-run social benefit program in the world. As most employers have eliminated or reduced pensions in the past few decades millions of Americans depend more on social security after retirement. In fact, social security payments help keep a significant number of retired persons out of poverty. This program is funded by a deduction in the payroll of all workers and equal contributions by employers. Just like so many other government programs, the social security program is also based on a flawed design. According to current cost estimates, the social security trust fund trust funds that holds the assets for this program may run out of funds by 2014 as shown in the graphic below:


Source: Pensions & Investments

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