## Summary Measures and Graphs

__Description of Proposed Provision__:

E3.5: Increase the taxable maximum each year by an additional 2 percent beginning in 2024 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum.

__Description of Proposed Provision__:

E3.5: Increase the taxable maximum each year by an additional 2 percent beginning in 2024 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum.

*Estimates based on the intermediate assumptions of the 2023 Trustees Report*

Summary Measures | |||||||
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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 |
||

-3.61 | -4.35 | 0.59 | 0.45 | 16% | 10% |