Social Security Benefits Could Be Cut by 2031. Here's What That Means for Retirees

For millions of retirees, Social Security benefits make the difference between enjoying a comfortable lifestyle and struggling to make ends meet. In fact, nearly one-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. The Social Security Administration (SSA) relies primarily on payroll taxes to pay out benefits.