With the Social Security trust fund less than seven years from insolvency — at which point a 24% across-the-board benefit cut could be triggered — a new proposal suggests capping annual payouts for the nation’s wealthiest retirees.

A white paper released by the Committee for a Responsible Federal Budget advocates for a “six-figure limit” that would cap Social Security benefits at $100,000 per year for couples retiring at the normal retirement age.

“Given the Social Security program’s large structural funding gap, it is questionable whether the program should be distributing $100,000 a year to some of the wealthiest people in the details ⇒

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