Fun Fact of the Day, July 18, 2018

July 18, 2018

MOVED MONEY AROUND - The Disability Insurance (DI) Trust Fund has been projected to be depleted by the 4th quarter 2016 per a 7/22/15 Special Security Trustee report.  This forced Congress to allocate more of the 12.4% combined payroll taxes collected from employers and employees for 3 years (2016-17-18).  The additional funds (from 1.8 percentage points to 2.37 percentage points out of the 12.4 percentage points) has now pushed the DI Trust Fund's exhaustion date to 2032 or 14 years out (source: Social Security Trustees 2018 Report).

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