Social Security will not be able to fully pay monthly benefits to tens of millions of retirees and people with disabilities in 2034 if lawmakers don’t act to address the program’s pending shortfall, according to an annual report released Wednesday by Social Security’s trustees.

July’s Supplemental Security Income payment, worth up to $967, will go out to millions of beneficiaries in 13 days. The next SSI payments are scheduled to be distributed on July 1. SSI payments are given to people living with debilitating disabilities that affect their income,

The cost-of-living adjustment, commonly referred to as COLA, has been a long-standing element of Social Security benefits, being put it in place in 1975. The adjustment is designed to keep payments in line with inflation so that the purchasing power of benefits is not eroded over time.