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How that impacts the own deferred compensation planning

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Point 1: The Social Security Administration released a report stating that the Social Security surplus will expire in 2034. After that point, payments to retirees will come exclusively from the payroll taxes still being paid by younger people that are in the workforce. However, this will not be enough to pay full benefits.

Question 1: Discuss the ramifications of not being able to rely on Social Security and how that impacts their own deferred compensation planning in the future.

Reference no: EM132479569

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