Social Security Warning Issued: 'Heading for Trouble'

A financial expert has warned that the Social Security program is "heading for trouble," despite a new report indicating the benefit program is doing well.

On Monday, the Social Security Administration (SSA) published its annual Trustees Report, which found the government retirement and disability benefits program has fared better than expected over the last year due to the improving economy. The expected depletion date of the program's Old-Age, Survivors, and Disability Insurance (OASDI) fund has now been pushed back to 2035, based on the combined reserves of the retirement and disability benefit trusts—one year later than previously projected.

If the funds become depleted, the SSA predicts that in 2035, there would only be enough money to pay 83 percent of scheduled benefits at current rates.