Let your CFO know: There’s some good news to pass along to your higher paid employees  for 2010.

The Social Security taxable wage base is expected to be $106,800 in 2010 and 2011 – the same as 2009, which means anyone bringing home a bigger paycheck won’t have to pay more into the Social Security system.

That’s according to SSA’s Office of the Chief Actuary, which makes these estimates every spring. SSA won’t officially determine the parameters until October, and only then by following formulas set by law. Having a good estimate, though, will help your CFO with budgeting in the coming months.

Here are some post-2010 predictions using “intermediate” forecasting assumptions:

2011 $106,800
2012 $114,900
2013 $119,400
2014 $124,200
2015 $129,300
2016 $134,700
2017 $140,400
2018 $145,500

According to the report, Social Security trust funds will be adequately funded over the next six years. In 2016, however, tax revenues are expected to fall below program costs. That’s one year earlier than last year’s prediction.

SSA expects to pay full benefits until the trust funds become exhausted in 2037 — four years earlier than in last year’s report. Once that happens, tax revenues (at current rates) will cover just 76% of scheduled benefits.

To get a copy of the report, go to www.ssa.gov/OACT/TR/2009/index.html.

Tags: social security, ssa