As usual click to embiggen. When it comes to Social Security there are three definitions of 'Solvency', one used by the 'Actuary' another by the 'Defender' and the third by the 'Reformer'.

More from Personal Finance: Social Security Administration announces 2.5% COLA for 2025 Here's the inflation breakdown for September 2024 — in one chart Here's why the Social Security COLA is ...

To maintain solvency, Congress may reduce future benefits, increase taxes or raise the retirement age. Bipartisan legislative action is needed to ensure long-term Social Security solvency.

The updated forecast for COLA - which is not a raise, but a benefit adjustment to keep pace with inflation - and concerns about Social Security's solvency comes as the Social Security ...