![]() ![]() Teacher Online Resource Center - This site offers teachers resources from the FDIC and CFPB to help teach children from pre-K through age 20 about money or other financial topics.In the Classroom Materials - Information from the Securities and Exchange Commission including classroom resources, information on special professional development opportunities and workshops for teachers, and a “Just for Teachers” section to help teachers better plan their own financial futures.Federal Reserve System’s Resources for Educators - A comprehensive collection of curricula, guides, publications, classroom activities and adult learning materials covering such topics as credit, consumer resources, money, and banking.If the search results are too broad, of if you want to focus on particular issues within your topic, you can narrow the search to get to the information you need. The site will display a list of federal resources, along with brief descriptions and links. Simply type in the word or phrase that describes your topic, and the site will do the searching for you. To find more resources in the MyMoney collection, use the search box on the navigation bar. The Spotlight Resources below provide a taste of the types of available resources. Our collection is designed specifically for teachers and educators, including those who work with children as well as practitioners who teach adults. " Starting Your Retirement Benefits Early.This section of provides information about and links to a collection of federal guides and curricula for teaching financial capability concepts. " Understanding the Benefits," Pages 1-3, 6-7. “ Social Security: The Trust Funds,” Pages 1-2. " Social Security and Medicare Tax Rates."Ĭongressional Research Service. " Office of the Chief Actuary's Estimates of Proposals to Change the Social Security Program or the SSI Program." ![]() " The 2022 OASDI Trustees Report, Table IV.B3: Covered Workers and Beneficiaries, Calendar Years 1945-2100." " Projections of the Size and Composition of the U.S. " The Pace of Boomer Retirements Has Accelerated in the Past Year." " Life Expectancy at Birth, Total (Years) - United States." " Fertility Rate, Total (Births per Woman) - United States." " Policy Basics: Understanding the Social Security Trust Funds." " Self-Employment Tax (Social Security and Medicare Taxes)."Ĭenter on Budget and Policy Priorities. " Fact Sheet: 2023 Social Security Changes,". 751, Social Security and Medicare Withholding Rates." " Status of the Social Security and Medicare Programs: A Summary of the 2023 Annual Reports." " Social Security: A Program and Policy History." Employees and employers split the tax contributions 50/50, with employees paying 6.2% of their wages and employers paying the other 6.2%. Social Security taxes amount to 12.4% of wages up to a cap on taxable annual income set at $147,0 and at $160,2. The Social Security program is funded through the Federal Insurance Contributions Act (FICA) tax, a dedicated payroll tax. Members of Congress continue to put forth proposals to address the shortfall in the Social Security program.Social Security's retirement benefits trust fund is projected to deplete reserves in 2033, leaving it reliant on tax receipts covering 77% of scheduled benefits.Fewer workers are left to contribute toward the benefits of each retiree as Baby Boomers retire and the U.S.Payroll tax contributions are not reserved for future payouts to the particular taxpayer. Current taxes and any accumulated surplus fund everyone's benefits.Social Security benefits are funded by a dedicated payroll tax paid by employees, employers, and the self-employed. ![]()
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