A Social Security shortfall could slash benefits by $500 a month. Black Americans stand to lose most

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the Grio

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The program’s retirement trust fund is projected to deplete its reserves in 2032 without action from Washington.

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Social Security payments for millions of Americans are set to see a major shortfall by 2032, if elected officials in Washington, D.C., do not intervene. Black Americans, who disproportionately rely on Social Security benefits to afford their living expenses, stand to suffer most if a solution is not determined in just a few years.

The trust fund that pays out monthly checks to retirees will be depleted of its reserves in late 2032, the Trustees of the Social Security and Medicare warned earlier this summer.

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