Tag: Trust Fund
The brief’s key findings are: Contrary to media reports, the 2019 Trustees Report shows little change overall: Social Security’s 75-year deficit ticked down from 2.84 percent to 2.78 percent of payroll. Trust fund exhaustion moved out by one year, to 2035, after which payroll taxes still cover about three quarters of promised benefits. This shortfa…
Despite cheap benefits, the state fails to fund. Whenever people write about excessively generous public pension benefits, I think of Massachusetts. Massachusetts stands out among state-administered plans as being one of the cheapest. Two factors explain why it is so cheap. First, public employees in Massachusetts are not covered by Social Security, which means t…
