The Social Security Trustees delayed issuing their annual report due to COVID 19 pandemic and 2020 recession. Their report acknowledged that the finances of the program has been significantly affected by both events. In their conclusion, the Trustees

a. assume that the pandemic will have no net effect on the long-range assumptions, due to high level of uncertainty surrounding the pandemic

b. conclude that the Social Security Trust funds will improve in the longer-term due to elevated mortality rates among retirees during the pandemic

c. conclude that the Social Security trust funds will run out of money five years earlier due to reductions in immigration and childbearing during 2021 and 2022

d. conclude that the Social Security trust funds will run out of money ten years earlier than previously reported, due to lower economic earnings during the pandemic