## Summary Measures and Graphs

__Description of Proposed Provision__:

E3.6: Increase the taxable maximum each year by an additional 2 percent beginning in 2023 until taxable earnings equal 90 percent of covered earnings. Do not provide benefit credit for additional earnings taxed.

__Description of Proposed Provision__:

E3.6: Increase the taxable maximum each year by an additional 2 percent beginning in 2023 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 2020 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 |
||

-3.21 | -4.51 | 0.77 | 1.12 | 24% | 25% |