To enable the Railroad Retirement Board to adjust the amount of benefits payable under the Railroad Retirement Act at the time the cost of living adjustment is applied.
The State Earnings Related Pension Scheme has been replaced by the State Second Pension and is an amount that is payable to employees who were members of the scheme.
In a progressive tax system, that also means that the amount of tax payable will be smaller since tax rates tend to decrease with taxable income (with some exceptions, of course).
In other words, in the eyes of the law, it would not be fair or reasonable to increase the amount of monetary damages payable by a breaching party by having it be responsible for losses of the aggrieved party that are reasonably avoidable.
Provide a check payable to the Department of Treasury in the total amount of tax, interest and accuracy-related penalty for the voluntary disclosure period.