On Thursday, June 2, the Social Security Administration (SSA) released a statement about the financial status of the Social Security Trust Funds. And it offered a little ray of light amid the dark clouds of depleting funds on the horizon.

According to the press release, the Old-Age and Survivors Insurance and the Disability Insurance Trust Funds are now projected to deplete in 2035. This is one year later than last year’s projection.

Additionally, the statement declares that, after they deplete, 80 percent of benefits could be paid to retirees. This percentage is also higher than last year’s projection, which declared only 77 percent of benefits payable at depletion.

How Congress plans to act on the impending depletion has yet to be decided. To stay informed about their decision make sure to follow us on Facebook and Twitter. Then, learn more about how we’re working to secure retirees’ financial security.