Also called: Social Security shortfall
The Social Security Trustees project that the program's reserves will run out in the 2030s. If the law is not changed, incoming payroll taxes would then cover only part of scheduled benefits.
Depletion does not mean benefits stop; it means they would be cut to the level ongoing revenue can pay. Congress has changed the law ahead of past shortfalls, so the outcome is uncertain.
RetIQ's optional SS Trust Fund Reduction toggle lets you test your plan against a benefit cut of a size and start year you choose.