Social Security: 3 Strategies That Can Protect Your Retirement if Benefits Are Cut

In fact, nearly a quarter of married couples and close to half of unmarried beneficiaries depend on their monthly checks for at least 90% of their retirement income, according to the Social Security Administration (SSA). The SSA relies primarily on payroll taxes to fund benefits. To bridge the gap, the SSA has been pulling money from its trust funds, but those funds are expected to be depleted by 2034 -- at which point payroll taxes will only be enough to cover around 76% of projected benefits.