By Ted Gotsch
Policy Content and Publications Manager
The financial viability of Social Security remains one of the nation’s most vexing puzzles that policymakers have yet to address. The annual Social Security Trust Fund report has projected since 2012 that the asset reserves held by the trust funds would be depleted in the 2033-2035 timeframe, meaning that Social Security would be unable to pay the full benefits. However, to date, Congress has taken no significant action to address the problem.
In an effort to help educate and encourage potential reform, the Academy developed an interactive tool that allows the public and those working in the policy space to weigh different solutions to address Social Security’s financial troubles. The Social Security Challenge—a web-based app, which has been recently updated, allows users to take on the role of policymakers, selecting different modifications to the program, e.g. raising revenue or cutting benefits, in order to help balance the program’s finances. Users can also see how expanding benefits would affect Social Security’s bottom line. (The app was updated using the data in the Office of the Chief Actuary publication, Summary of Provisions That Would Change the Social Security Program, dated Jan. 13, 2026.)
In taking part in the Challenge, users can shape their own reform proposal as they explore a virtual town, where they hear residents’ diverse views on reform ideas, learn about their impacts, and puzzle through choices. In the challenge finale, users select and submit their proposal from a range of possible reform options and see how it affects Social Security’s financial footing.
When translating the Challenge to the real world, users are shown the financial impact, under the assumption that Congress adopts the reforms immediately. The effectiveness of each reform in addressing the shortfall declines each month that Congress doesn’t act.
Each year that goes by without congressional action to address Social Security’s projected insolvency makes the potential solutions more difficult. As noted in the Academy’s 2023 Reforming Social Security Sooner Rather Than Later issue brief* (updated version to be available shortly), “It is important that Congress immediately focus on this issue [Social Security’s solvency concerns] because delay makes the solution more difficult, as it gradually limits the viable options to those relying on increasing taxes.”
As the 2026 midterm elections approach, thoughtful, fact-based analysis remains essential. The long-term solvency of one of America’s most vital and widely supported social insurance programs depends on rigorous analysis and a clear understanding of the trade-offs inherent in reform proposals.
Actuaries play a critical role in bringing that expertise to policy discussions. Through initiatives such as the Social Security Challenge and the ongoing efforts of our dedicated volunteers, the Academy will continue to provide practical tools, nonpartisan data-driven perspectives, and educational resources designed to help policymakers strengthen the program’s financial footing—not just for the next decade, but for generations to come.