If you’re in the US and you or your coworkers are anywhere near retirement age, your employer is screwing people out of Social Security income. It’s based on the amount you make on average over a certain number of years of working. If the amount reported and taxed as Social Security income is less than your actual income, it can affect your payments.
If the system is still solvent when you retire, that is.
Social security is calculated off of your 35 highest earning years. The above practice would certainly screw the vast majority of people out of social security money.
If you’re in the US and you or your coworkers are anywhere near retirement age, your employer is screwing people out of Social Security income. It’s based on the amount you make on average over a certain number of years of working. If the amount reported and taxed as Social Security income is less than your actual income, it can affect your payments.
If the system is still solvent when you retire, that is.
Social security is calculated off of your 35 highest earning years. The above practice would certainly screw the vast majority of people out of social security money.