Tag: COLA
Abstract Federal law allows certain state and local government employees to be excluded from Social Security coverage if they are covered by an employer pension of sufficient generosity. Public sector retirement systems have grown less generous in recent years, and a couple of plans could exhaust their assets in the next decade, putting benefits at…
But it shouldn’t be used as a precedent for Social Security. Both the House and Senate tax cut proposals change the measure of inflation used to adjust the income thresholds in the tax schedule. This shift to a “chained” consumer price index (CPI), which makes sense on the tax side, has also been proposed in…
