Summary Measures and Graphs
Description of Proposed Provision:
E3.13: Beginning in 2033, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $760,800 in 2033), with the threshold wage-indexed after 2033. Do not provide benefit credit for additional earnings taxed.
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 | 0.15 | 0.18 | 4% | 4% |
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