Summary Measures and Graphs
Description of Proposed Provision:
E3.6: Increase the taxable maximum each year by an additional 2 percent beginning in 2026 until taxable earnings equal 90 percent of covered earnings. Do not provide benefit credit for additional earnings taxed.
Estimates based on the intermediate assumptions
of the 2023 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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-3.61 | -4.35 | 0.83 | 1.18 | 23% | 27% |