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Summary of Provisions That Would Change the Social Security Program |
Description of Proposed Provisions:
|
|
Estimates based on the intermediate assumptions of the 2008 Trustees Report
Change from present law | Results with this provision | |||||
---|---|---|---|---|---|---|
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
|||
Present Law, Alternative II. |
-1.70 | -4.20 | ||||
F1 | Cover newly hired State
and local government employees beginning in 2009. graph | table | pdf-graph | pdf-table | memo |
0.22 | 0.00 | -1.48 | -4.20 | |
F2 |
Provide for OASDI payroll tax coverage of employer provided group
health insurance cost, starting in 2010. Specifically, any cost
toward such group health insurance borne by employees would cease
to be deductible, and the cost borne by employers would now be
allocated to employees as if it had been wages, for the purpose
of payroll tax (and later, benefit) calculations. Both employee
and employer OASDI payroll taxes would be affected by this proposal.
graph | table | pdf-graph | pdf-table | memo |
1.20 | 1.62 | -0.49 | -2.58 | |
F3 |
Beginning in 2009, exempt individuals with more than 180
quarters of coverage from the OASDI payroll tax.
graph | table | pdf-graph | pdf-table | memo |
-0.28 | -0.49 | -1.98 | -4.69 |
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