3 Ways Your Social Security Payments are Already Being Cut

[mfcorey1]

Policy experts have focused on alternative ways of eliminating Social Security's 75-year financing gap, but lost in the debate is the fact that even under current law Social Security will provide less retirement income relative to previous earnings than it does today. Combine the already legislated reductions with potential cuts to close the financing gap, and Social Security may no longer be the mainstay of the retirement system for many people.

http://finance.yahoo.com/focus-retirement/article/112844/3-ways-social-security-payments-being-cut-smartmoney?mod=fidelity-livingretirement&cat=fidelity_2010_living_in_retirement

[Jim Lane]

1. K&R - very informative about de facto cuts built into current law (n/t)