------------------------------------------------------------------------------- Contribution rates (percent) --------------------------------------------------- Employees and employers, Contribution each Self-employed and benefit ---------------------- --------------------------- Calendar years base OASDI OASI DI OASDI OASI DI ------------------------------------------------------------------------------- 1937-49....... $3,000 1.000 1.000 -- -- -- -- 1950.......... 3,000 1.500 1.500 -- -- -- -- 1951-53....... 3,600 1.500 1.500 -- 2.2500 2.2500 -- 1954.......... 3,600 2.000 2.000 -- 3.0000 3.0000 -- 1955-56....... 4,200 2.000 2.000 -- 3.0000 3.0000 -- 1957-58....... 4,200 2.250 2.000 0.250 3.3750 3.0000 0.3750 1959.......... 4,800 2.500 2.250 .250 3.7500 3.3750 .3750 1960-61....... 4,800 3.000 2.750 .250 4.5000 4.1250 .3750 1962.......... 4,800 3.125 2.875 .250 4.7000 4.3250 .3750 1963-65....... 4,800 3.625 3.375 .250 5.4000 5.0250 .3750 1966.......... 6,600 3.850 3.500 .350 5.8000 5.2750 .5250 1967.......... 6,600 3.900 3.550 .350 5.9000 5.3750 .5250 1968.......... 7,800 3.800 3.325 .475 5.8000 5.0875 .7125 1969.......... 7,800 4.200 3.725 .475 6.3000 5.5875 .7125 1970.......... 7,800 4.200 3.650 .550 6.3000 5.4750 .8250 1971.......... 7,800 4.600 4.050 .550 6.9000 6.0750 .8250 1972.......... 9,000 4.600 4.050 .550 6.9000 6.0750 .8250 1973.......... 10,800 4.850 4.300 .550 7.0000 6.2050 .7950 1974.......... 13,200 4.950 4.375 .575 7.0000 6.1850 .8150 1975.......... 14,100 4.950 4.375 .575 7.0000 6.1850 .8150 1976.......... 15,300 4.950 4.375 .575 7.0000 6.1850 .8150 1977.......... 16,500 4.950 4.375 .575 7.0000 6.1850 .8150 1978.......... 17,700 5.050 4.275 .775 7.1000 6.0100 1.0900 1979.......... 22,900 5.080 4.330 .750 7.0500 6.0100 1.0400 1980.......... 25,900 5.080 4.520 .560 7.0500 6.2725 .7775 1981.......... 29,700 5.350 4.700 .650 8.0000 7.0250 .9750 1982.......... 32,400 5.400 4.575 .825 8.0500 6.8125 1.2375 1983.......... 35,700 5.400 4.775 .625 8.0500 7.1125 .9375 1984 1/....... 37,800 5.700 5.200 .500 11.4000 10.4000 1.0000 1985 1/....... 39,600 5.700 5.200 .500 11.4000 10.4000 1.0000 1986 1/....... 42,000 5.700 5.200 .500 11.4000 10.4000 1.0000 1987 1/....... 43,800 5.700 5.200 .500 11.4000 10.4000 1.0000 1988 1/....... 45,000 6.060 5.530 .530 12.1200 11.0600 1.0600 1989 1/....... 48,000 6.060 5.530 .530 12.1200 11.0600 1.0600 1990.......... 51,300 6.200 5.600 .600 12.4000 11.2000 1.2000 1991.......... 53,400 6.200 5.600 .600 12.4000 11.2000 1.2000 1992.......... 55,500 6.200 5.600 .600 12.4000 11.2000 1.2000 1993.......... 57,600 6.200 5.600 .600 12.4000 11.2000 1.2000 1994.......... 60,600 6.200 5.260 .940 12.4000 10.5200 1.8800 1995.......... 61,200 6.200 5.260 .940 12.4000 10.5200 1.8800 1996.......... 62,700 6.200 5.260 .940 12.4000 10.5200 1.8800 1997-99....... (2) 6.200 5.350 .850 12.4000 10.7000 1.7000 2000 and later (2) 6.200 5.300 .900 12.4000 10.6000 1.8000 ------------------------------------------------------------------------------- 1/ In 1984 only, an immediate credit of 0.3 percent of taxable wages was allowed against the OASDI contributions paid by employees, which resulted in an effective contribution rate of 5.4 percent. The appropriations of contributions to the trust funds, however, were based on the combined employee-employer rate of 11.4 percent, as if the credit for employees did not apply. Similar credits of 2.7 percent, 2.3 percent, and 2.0 percent were allowed against the combined OASDI and Hospital Insurance (HI) contributions on net earnings from self- employment in 1984, 1985, and 1986-89, respectively. Beginning in 1990, self- employed persons are allowed a deduction, for purposes of computing their net earnings, equal to half of the combined OASDI and HI contributions that would be payable without regard to the contribution and benefit base. The OASDI contribution rate is then applied to net earnings after this deduction, but subject to the OASDI base. 2/ Subject to automatic adjustment based on increases in average wages.
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