Floridian retirees are growing more concerned as warnings intensify about the financial future of Social Security.
In 2025, the trust fund was forecast to run out in 2033, according to USA TODAY. Critics say the retirement trust fund could now be depleted by 2032, a deadline that would trigger cuts for about 70 million Americans.
If Congress doesn’t act and allows the trust fund to empty, the program will pay out only what the government collects in taxes. On average, beneficiaries would lose about $500 a month, the nonprofit Committee for a Responsible Budget estimates.
“This should be a wake-up call: Congress needs to act,” said Myechia Minter-Jordan, chief executive at AARP, a nonprofit, nonpartisan organization representing older adults. “Americans have worked hard and paid into Social Security their entire lives, and they deserve to count on it when they retire. ”
How many people in Florida receive Social Security benefits?
As of December 2025, 5,294,001 people in Florida claimed Social Security benefits, including:
Retired workers: 4,191,491
Disabled workers: 462,756
Widow(ers) and parents: 260,003
What’s being done? How can Congress protect Social Security benefits?
As warnings grow about potential benefit cuts, lawmakers have floated a wide range of proposals in recent years, a trend seen in ongoing Social Security reform news by USA TODAY.
“They could have done so at any point in the past two decades at considerably less cost,” according to Stephen Nuñez, the progressive Roosevelt Institute’s director for stratification economics.
The “six-figure limit,” or capping annual Social Security benefits at $100,000 for couples.
Raise or eliminate the income cap that can be taxed to fund Social Security benefits. In 2026, only incomes up to $184,500 are taxed to pay for benefits.
Increase the 12.4% payroll tax on your income that goes to Social Security payments. The payroll tax is usually split between you and your employer, so each pays 6.2%.
Raise the full retirement age to receive maximum Social Security benefits. Until the 1980s, 65 was considered the full retirement age, but in 1983, with Social Security facing insolvency, Congress passed legislation that gradually raised the full retirement age to 67. In 2026, the age was 67, and some researchers think it should be raised again.
The last time Congress enacted major, comprehensive reforms to Social Security was in 1983, more than four decades ago.
Whether lawmakers can muster the same resolve again remains an open question.
July 2026 Social Security payment schedule
Social Security benefits, paid mostly to recipients who are older or retired, are typically issued on Wednesdays, and most people receive their check on one of three Wednesdays each month, depending on their birth date. In June, that means:
Wednesday, July 8: If your birth date is between the first and 10th of the month
Wednesday, July 15 If your birth date is between the 11th and 20th of the month
Wednesday, July 22: If your birth date is between the 21st and 31st of the month
People who started getting Social Security before May 1997 follow a different schedule and are paid on the third of each month instead of a Wednesday‑based date.
See the full 2026 Social Security and SSI payment schedule
Where can I find a Social Security office in Florida?
There are 52 Social Security offices in Florida. You can find one near you at ssa.gov/locator.
Note that not all offices offer all SSA services.
Samantha Neely is a trending reporter for the USA TODAY NETWORK-Florida, covering pop culture, theme parks, breaking news and more. You can get all of Florida’s best content directly in your inbox each weekday by signing up for the free newsletter, Florida TODAY, at https://floridatoday.com/newsletters.
This article originally appeared on Fort Myers News-Press: Is Social Security running out sooner? Timeline, what’s being done
