Social Security's OASI Fund Depletes in Late 2032 Unless Congress Acts

The Social Security Old-Age and Survivors Insurance Trust Fund will reach zero reserves in Q4 2032, at which point payroll taxes can cover only 78 percent of scheduled benefits. Without congressional action, an automatic across-the-board cut of roughly 22 percent becomes operative. The 2026 Trustees Report, released June 9, pinpoints this depletion date with quarterly precision. Congress has approximately six years to legislate a fix—a tight window historically.