United States. Congress

“ Average annual employee compensation.—The term ‘average annual employee compensation’ means, with respect to any employer for any taxable year, the average amount of compensation paid by such employer to qualified employees of such employer during such taxable year. ”

“ Inflation adjustment.—In the case of any taxable year beginning after 2013, each of the dollar amounts in subsections (b) (2) , (c) (2) , and (e) (2) shall be increased by an amount equal to— `` (A) such dollar amount, multiplied by `` (B) the cost of living adjustment determined under section 1 (f) (3) for the calendar year in which the taxable year begins determined by substituting ‘calendar year 2012’ for ‘calendar year 1992’ in subparagraph (B) thereof. ”