Is Late News, Bad News? What to Expect from Delayed Social Security Report

Better late than never. Maybe not. The annual Social Security Trustees Report is required by law to be issued by April 1. This deadline is frequently missed, however, with reports in recent years typically released in May, June or even as late as August.

Is Late News, Bad News? What to Expect from Delayed Social Security Report. Better late than never. Maybe not. The annual Social Security Trustees Report is required by law to be issued by April 1. This deadline is frequently missed, however, with reports in recent years typically released in May, June or even as late as August. When exactly this year’s report will land is unclear, but what’s all too clear is what it will show: Social Security is on a collision course with insolvency, and recent actions by Congress have probably made the situation even worse, according to Jason Fichtner, a former Social Security official and executive director of the LIMRA Retirement Income Institute. The program isn’t on track to simply collapse, fortunately, but substantial benefit cuts are coming unless lawmakers do something about it. Those cuts could...