Social Security is expected to run short of funds to pay all promised benefits in less than 20 years. However, none of the most popular reform options, including raising the retirement age, cutting cost-of-living adjustments, and raising the cap on earnings covered by Social Security, are enough to permanently close the funding gap without additional changes. Other reform efforts are needed to modernize the benefit to better serve today’s families, improve its work incentives, and ensure that it provides adequate resources for those who depend on it. This brief helps frame the issue as we enter the presidential campaign.