India, Nov. 13 -- A comprehensive fiscal analysis examining the long-term solvency of federal retirement funds has revealed that retirees in 15 states could face average benefit reductions exceeding $515 a month if legislative reforms are not enacted before trust fund reserves are depleted.

The projections, derived from state-level modelling by the Committee for a Responsible Federal Budget (CRFB) based on the Social Security Administration's Trustees Report, map out the potential fallout of a nearly 24 per cent across-the-board benefit cut.

Under the statutory framework governing federal retirement programs, payroll tax revenues alone would cover only about 78 per cent of scheduled benefits once trust fund reserves are exhausted. Becau...