Sure - it’s a tax. But participants amounts won’t vary from person to person. $1600 per month seems like a fair stipend for 2023. But some will receive far more and some far less. Why? Each participant should receive the same amount as everyone elseAre you not describing what we currently have just with a fixed amount instead of differing amounts based on what you paid into the system? I would be fine with what you are suggesting, but I am sure people making larger amounts would like to have their SS adjusted to that amount.
According to my statement, I will be getting pretax right around $1600 a month. It's not like I am rolling in 5 grand a month here.