Introduction
Social Security plays a key role in many retirement plans. Today, benefits are paid in full, but current projections show the trust fund could be depleted around 2032. If no legislative changes are made, benefits may be reduced.
Boldin now allows you to model this scenario directly in your plan, so you can see how a potential reduction could impact your long-term outlook.
Reference: Congressional Budget Office Budget and Economic Outlook
What Boldin does by default
By default, Boldin calculates your Social Security benefits as scheduled, with no reduction applied.
If you choose to model a reduction, the default assumption is a 28% decrease in benefits starting in 2032. This reflects current projections from the Congressional Budget Office and represents a potential shortfall between expected revenues and scheduled payments.
Once applied, this adjustment flows through your plan, including:
Income projections
Retirement cash flow
Any charts that include Social Security income
You can adjust or remove this assumption at any time.
How to adjust the reduction
Go My Plan > Income > Social Security in your plan.
Under Social Security Assumption, you'll see a toggle for "Model a benefit reduction in the future".
If you select to toggle this on, you can select your "Reduction amount" and "Start year".
Your plan updates immediately.
To model a scenario where benefits are paid in full, simply leave this setting toggled off. |
Why this matters
This feature helps you plan beyond a single outcome.
Instead of assuming benefits will remain unchanged, you can explore:
How sensitive your plan is to reduced income
Whether your current savings and spending are flexible
What adjustments might improve your long-term confidence
It’s not about predicting what will happen. It’s about understanding how different outcomes could affect you.
Frequently asked questions
Where does the 28% figure come from?
The 28% reduction is based on Congressional Budget Office projections for the Social Security trust fund depletion scenario. It represents the estimated gap between incoming payroll tax revenue and scheduled benefits if the trust fund is depleted. This is a planning assumption, not a prediction.
Can I set a different reduction percentage?
Yes. You can enter any percentage from 0% to 100% and adjust the start year. Many people test multiple scenarios, such as a smaller reduction versus a larger one, to understand the range of possible outcomes.
Does this affect both spouses’ benefits?
Yes. The reduction applies to all Social Security income in your plan, including spousal and survivor benefits.
Is this available on all plans?
Yes. This feature is available to all Boldin members.
Is this available on the Social Security Explorer?
The setting itself is not available within the Explorer. However, if you’ve applied a reduction in your active scenario, that assumption will carry through when using the Social Security Explorer.