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Table II.B1. - Contribution and Benefit Base and Contribution Rates
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Contribution rates (percent)
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Employees and employers,
Contribution each Self-employed
and benefit ---------------------- ---------------------------
Calendar years base OASDI OASI DI OASDI OASI DI
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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
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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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