Summary Measures and Graphs
Description of Proposed Provision:
E1.1: Increase the payroll tax rate (currently 12.4 percent) to 15.8 percent in 2021 and later.
Estimates based on the intermediate assumptions
of the 2020 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 |
||
-3.21 | -4.51 | 3.23 | 3.36 | 101% | 74% |