According to the Social Security Administration, the year in which the Social Security trust fund is projected to be exhausted is 2034.54 That’s right as many of us will be hitting retirement age. Roughly three-quarters of Gen Xers don’t believe Social Security will provide them with full benefits when they retire.55 If the reserve funds are depleted, that doesn’t mean no more Social Security checks.56 But it may well mean people receive just about three-quarters of what they’re counting on; cuts to Social Security would hit women hardest.
