Description of Proposed Provision:
E3.4: Increase the taxable maximum from $106,800 to $115,200 (in 2009 AWI-indexed dollars), or from $142,200 to $153,300 in 2020, phased in 2018-2020. Provide benefit credit for earnings up to the revised taxable maximum.
Estimates based on the intermediate assumptions of the 2017 Trustees Report
Summary Measures | |||||||
---|---|---|---|---|---|---|---|
Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||
-2.83 | -4.48 | 0.11 | 0.08 | 4% | 2% |