Personal Net Worth (PNW) Cap
Personal Net Worth Cap $2,047,000 (effective May 9, 2024)
Previous Cap: $1,320,000
The Department will adjust the PNW cap by May 9, 2027 by multiplying $1,600,000 by the growth in total household net worth since 2019 as described by “Financial Accounts of the United States: Balance Sheet of Households (Supplementary Table B.101.h)” produced by the Board of Governors of the Federal Reserve (https://www.federalreserve.gov/releases/z1/), and normalized by the total number of households as collected by the Census in “Families and Living Arrangements” (https://www.census.gov/topics/families/families-and-households.html) to account for population growth.
The Department will adjust the PNW cap every 3 years on the anniversary of the initial adjustment.