Social Security Commissioner Frank Bisignano has pushed back against fears about the program’s future, saying that Social Security will remain in place for another nine decades even as the most recent projections warn that the trust fund could be depleted within six years. It’ll be around for another 90 years,” Bisignano said Monday during an appearance on CNBC’s Squawk Box. Despite Bisignano’s optimistic comments, concerns about Social Security’s finances have escalated in recent years.
The Social Security Administration’s own 2026 Trustees Report projected that the Old-Age and Survivors Insurance Trust Fund, which pays retirement and survivor benefits, will only be able to pay full scheduled benefits until the fourth quarter of 2032. After its reserves are depleted, the continuing income would only be sufficient to cover 78 percent of scheduled benefits. Social Security provides retirement, disability and survivor benefits to tens of millions of Americans.
While the depletion of Social Security’s reserves does not mean the program would simply disappear or stop paying benefits, the automatic benefit cuts that would transpire could significantly hurt beneficiaries who rely on the income for their necessities. Bisignano made his comments ahead of the Social Security Administration’s announcement of its 2027 cost-of-living adjustment on Wednesday. When asked whether longer lifespans could lead to an increase in the retirement age, he said : “There will always be questions, but so far we’ve done a great job for America on it.” The 2026 Trustees Report found that the combined Social Security trust funds declined by $160 billion in 2025, ending the year with $2.56 trillion in reserves.
The Trustees also estimated a long-range actuarial deficit equivalent to 4.42 percent of taxable payroll, up from 3.82 percent in the previous year’s report. Those findings have fueled warnings about “Social Security insolvency,” although this doesn’t mean that Social Security would cease to exist. However, he is being slightly disingenuous about how those payouts would be received.” The Trustees’ projections have so far predicted the following: Bisignano also acknowledged the financial challenges when the Trustees Report was released in June.
Trump has raised another potentially significant change to Social Security’s finances: investing trust fund assets in the stock market. It can survive another 90 by raising prices and shrinking portions,” Ryan told Newsweek. Social Security could follow a similar path.
Higher payroll taxes, working longer to collect full benefits, smaller checks, or some combination. None of those changes means the program disappears.” Attention will now turn to whether Congress takes action before Social Security’s retirement trust fund reaches its projected 2032 depletion date. The latest Trustees Report makes clear that doing nothing would not eliminate Social Security.
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