Cost-of-living adjustments (COLAs)equal to the percentage increase in theConsumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)are made annually to Social Security benefits to counteract the effects of inflation. There have been years with no increase due to negligible inflation ...
Social Securityis a U.S. government-mandated retirement system for employees and their spouses, along with providing security in certain cases of disability. In fact, the formal name of the program is the Old Age and Survivors and Disability Insurance and may appear on a paystub asOASDI. Soci...
Employer taxes: You pay the entirety of employer taxes, and they’re typically based on a percentage of your payroll. You’ll pay taxes to the federal, state, and local governments that fall within each of those buckets. Let’s break down what you’ll pay to each level of government. ...