Tag: Trustees Report
The brief’s key findings are: The 2020 Trustees Report, which was prepared before the pandemic, shows: Social Security’s 75-year deficit increased from 2.78 percent to 3.21 percent of payroll. Trust fund depletion remains at 2035, after which payroll taxes still cover about three quarters of promised benefits. This shortfall is manageable, and the pandemic is unlikely to…
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…
