The decrease was not driven by Americans earning less, but was instead attributed to a reduction in Social Security payments.

Social Security and Medicare trust funds, which help pay benefits, are projected to run dry. What will happen then?

The Windfall Elimination Provision reduced benefits for certain workers, but its repeal by the Social Security Fairness Act could change how you plan for retirement.

The majority of affected beneficiaries already began receiving their increased monthly benefit amounts in April.