__Description of Proposed Provision__:

B7.3: Give credit to parents with a child under 6 for earnings for up to five years. The earnings credited for a childcare year equal one half of the SSA average wage index (about $24,682 in 2016). The credits are available for all past years to newly eligible retired-worker and disabled-worker beneficiaries starting in 2018. The 5 years are chosen to yield the largest increase in AIME.

*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 | -0.22 | -0.32 | -8% | -7% |