So, Do we get a 2% Social Security Break or not???

[sweettractors]

Does anyone know if that bill got through congress and signed into law that was going to give a break of 2 % on the paycheck witholding for 2011? Ken Sweet

 

[smstonypoint]

It was passed and signed.

Workers to keep more of 2011 salary thanks to tax-cut extension | poughkeepsiejournal.com | Poughkeepsie Journal

Steve

 

[sweettractors]

It was passed and signed.

Workers to keep more of 2011 salary thanks to tax-cut extension | poughkeepsiejournal.com | Poughkeepsie Journal

Steve

Thanks Steve. The talk about passing that 2 % onto the Employers portion of SS did not materialize? Ken Sweet

 

[smstonypoint]

The talk about passing that 2 % onto the Employers portion of SS did not materialize? Ken Sweet

The employer's SS rate remains at 6.2%.

http://www.irs.gov/pub/newsroom/notice_1036.pdf

Steve

 

[Jim in ICT]

The 2% sounds nice, but translates into 33% of the employee's total contribution. I'd have been satisfied for the Guv'ment to leave my 6% alone. We'll all need as much as possible when we retire.

 

[sodamo]

The 2% sounds nice, but translates into 33% of the employee's total contribution. I'd have been satisfied for the Guv'ment to leave my 6% alone. We'll all need as much as possible when we retire.

My guess is this all plays into the bigger picture of showing SS going broke sooner.

 

[RickB]

The 2% sounds nice, but translates into 33% of the employee's total contribution. I'd have been satisfied for the Guv'ment to leave my 6% alone. We'll all need as much as possible when we retire.

Agreed.

 

[Duffster]

The 2% sounds nice, but translates into 33% of the employee's total contribution. I'd have been satisfied for the Guv'ment to leave my 6% alone. We'll all need as much as possible when we retire.

So invest it yourself. It will go alot farther that way.

 

[RickB]

So invest it yourself. It will go alot farther that way.

That's exactly what I set up today. Boosted the contribution to my retirement account by 2% of my gross pay.

 

[sweettractors]

That's exactly what I set up today. Boosted the contribution to my retirement account by 2% of my gross pay.

That was a smart move. Ken Sweet