Tag: Trust Fund
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…
What does exhaustion of the trust fund mean? The 2018 Social Security Trustees Report, released last week, shows that the program faces a 75-year deficit of 2.84 percent of taxable payrolls – virtually unchanged from last year’s projection of 2.83. The Old-Age, Survivors and Disability Insurance (OASDI) trust fund continues to be scheduled for exhaustion…
