As it marks its 90th anniversary in 2025, Social Security has become the cornerstone of economic security in the U.S., providing a suite of insurance that protects workers and their families in the event of retirement, disability, or death. But the program faces a long-term financing gap. According to the 2025 Trustees Report released on June 18th, Social Security’s reserves are expected to be depleted in 2034, at which point beneficiaries will see an across-the-board benefit cut if Congress fails to act.
On June 26th, 2025 the Academy held a virtual event featuring Social Security Administration Chief Actuary Karen Glenn and an expert panel unpacking Social Security’s financial outlook, lawmakers’ options for addressing the program’s long-term gap, and Americans’ view on the path forward.
Speakers included:
- Karen Glenn, Social Security Administration, Chief Actuary
- Kathleen Romig, Center on Budget and Policy Priorities
- Joel Eskovitz, AARP
- Tracey Gronniger, Justice in Aging
- Andrew Biggs, American Enterprise Institute
- Rebecca Vallas, National Academy of Social Insurance