For clients who may be concerned about the sustainability of the Social Security Program, the ‘Adjust benefits starting in the future’ setting can be utilized. This setting looks to address client concerns by baking in a specific percentage reduction to all Social Security benefits starting in the future.
This setting can be found in the Gear Icon > Settings > Other Assumptions tab of each client plan:
Choosing the ‘Reduce By’ option will allow you to reduce future Social Security benefits by the percentage indicated:
Example: If a client’s future social security benefit in 2030 is $20,000, and you enter a ‘Reduce By’ percentage of 2.5%, their benefit in 2030 will be reduced to $19,500.
The adjusted Social Security benefits can be tracked within the Retirement > Cash Flows > Summary tab. Click the underlined column headers for Income Inflows > Social Security to reveal additional information:
