Following last week’s release of the Social Security trustees’ 2020 report, the Bipartisan Policy Center estimated the potential impact of COVID-19 on the program’s trust funds. Our preliminary analysis included several scenarios. Under assumptions where the current economic downturn has severity and impacts similar to the Great Recession and its aftermath, the Old-Age and Survivor Insurance (OASI) trust fund would deplete its reserves in 2029, with the Disability Insurance (DI) trust fund coming even sooner, in 2024. Read our analysis here and stay tuned for a full report with updated projections in the coming months.

• Last week, we were joined by Chief Actuary of the Social Security Administration Stephen Goss and others for a recorded webinar available on our website: The Impact of COVID-19 on Social Security and Highlights from the Trustees' 2020 Report

• The Wall Street Journal: Social Security Costs Expected to Exceed Total Income in 2021

• Yahoo Finance: Coronavirus could deplete Social Security as early as 'this decade': analysis