Summary Measures and Graphs
Description of Proposed Provision:
E2.2: Eliminate the taxable maximum in years 2026 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.
Estimates based on the intermediate assumptions
of the 2025 Trustees Report
Summary Measures | |||||||
---|---|---|---|---|---|---|---|
Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||
-3.82 | -4.84 | 1.86 | 1.36 | 49% | 28% |
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