The Social Security fund will run dry in 2033, unless Congress combines the program’s old-age and disability funds, in which case insolvency would arrive in 2034, the report found. A finding last year predicted Social Security would become insolvent in 2035 or 2036.

New projections indicate that Social Security will be unable to pay full benefits by 2033, raising concerns for future retirees.

The Social Security shortfall date just moved a little bit nearer. New federal projections, released on June 18, show that the combined Social Security trust funds will pay 100% of benefits until 2034 before becoming depleted. That date is one year earlier than the Social Security Administration reported a year ago.