the end of the two-year period beginning with the effective date of the election. A revocation under this subsection shall take effect January 1 following the date of the filing of the revocation, except that a revocation filed during the 90-day period beginning with the date of the filing of the election shall take effect as of the effective date of the election. Upon the effective date of a revocation under this subsection, entitlement to benefits under title II of the Social Security Act shall be determined as if the revoked election had not occurred, except that, for purposes of any such entitlement, wages paid, and self-employment income derived, during the period for which the election was in effect shall not be taken into account. No subsequent election under this section may take effect with respect to an individual who has filed a revocation under this subsection (except a revocation filed during the 90-day period beginning with the date of the filing of the election). (B) Reduction in benefits The primary insurance amount, as determined under section 215 of the Social Security Act , of any individual who has filed a revocation under this subsection before the end of the two-year period described in subparagraph (A) (and after the 90-day period referred to in subparagraph (A)) shall be reduced (except for purposes of determining benefits under section 223 of such Act, and before any application of section 215(i) of such Act) by 20 percent. 106. Penalties (a) Failure To establish S.A.F.E. account payroll deduction program Any covered employer who fails to meet the requirements of section 102 for any calendar year shall be subject to a civil penalty of not to exceed— (1) $250,000, in the case of an employer who is an individual, or (2) $500,000, in any other case. (b) Failure To make deductions required under program Any covered employer who fails to timely deduct in full the amount from the wages of an employee who is an eligible individual as required under an applicable S.A.F.E. account payroll