Treasury Warns Social Security Fund Will Run Out of Money by 2033

A Social Security card sits alongside checks from the U.S. Treasury in Washington on Oct. 14, 2021. Kevin Dietsch/Getty Images

A new government report shows that the Social Security system’s main trust fund will be depleted by 2033, one year sooner than a prior estimate, adding to concerns about the fund’s solvency.

The Treasury Department has released a report following a meeting of the Social Security Board of Trustees, in which it warns that the federal Old-Age and Survivors Insurance (OASI) Trust Fund will become “inadequate” within the next 10 years.