How will the furlough program impact Social Security?
Gross wages will be reduced for calculation of taxes, including Social Security (FICA and Medicare) wages; the FICA and Medicare deductions will therefore be reduced. We anticipate that the impact from a one-year reduction in wages to your Social Security benefits, when factored with your wages over an entire career, will be minimal. Impact to future benefits based on your personal circumstances is best answered by the Social Security Administration and/or your personal tax advisor.
