Description of Proposed Provision:
B4.5: For retired and disabled workers, reduce the maximum number of dropout years to 4 for workers newly eligible in 2020, to 3 for workers newly eligible in 2021, and to 2 for workers newly eligible in 2022 and later.
Estimates based on the intermediate assumptions of the 2018 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 |
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-2.84 | -4.32 | 0.36 | 0.51 | 13% | 12% |