This table represents the FICA tax rates for each year since 1937. It also lists the labor
departments CPI for each year. Social Security increased OASI benefits periodically between
1940 and 1975. Beginning in 1975, automatic Cost of Living Allowance (COLA) was added to
the OASI program. However, this automatic increase will not take place if the OASI fund
balance is less than 20% of the projected OASI expenses for the year.
SOURCE OF INFORMATION
|
FICA TAX, BENEFIT INCREASE AND CPI (EMPLOYEE/EMPLOYER PORTIONS) | |||||||||
| YEAR | ANNUAL EARNINGS BAS | OASI | DI | HI | TOTAL FICA | BENEFIT INCREASE | BENEFIT BASE | CPI | IS IT BETTER? |
| 1937 | $3,000 | 1.00% | 1.00% | 14.1 | |||||
| 1938 | $3,000 | 1.00% | 1.00% | 14.2 | |||||
| 1939 | $3,000 | 1.00% | 1.00% | 14.0 | |||||
| 1940 | $3,000 | 1.00% | 1.00% | 13.9 | 13.9 | ||||
| 1941 | $3,000 | 1.00% | 1.00% | 13.9 | 14.1 | -1.4% | |||
| 1942 | $3,000 | 1.00% | 1.00% | 13.9 | 15.7 | -11.5% | |||
| 1943 | $3,000 | 1.00% | 1.00% | 13.9 | 16.9 | -17.8% | |||
| 1944 | $3,000 | 1.00% | 1.00% | 13.9 | 17.4 | -20.1% | |||
| 1945 | $3,000 | 1.00% | 1.00% | 13.9 | 17.8 | -21.9% | |||
| 1946 | $3,000 | 1.00% | 1.00% | 13.9 | 18.2 | -23.6% | |||
| 1947 | $3,000 | 1.00% | 1.00% | 13.9 | 21.5 | -35.3% | |||
| 1948 | $3,000 | 1.00% | 1.00% | 13.9 | 23.7 | -41.4% | |||
| 1949 | $3,000 | 1.00% | 1.00% | 13.9 | 24.0 | -42.1% | |||
| 1950 | $3,000 | 1.50% | 1.50% | 77.0% | 24.6 | 23.5 | 4.7% | ||
| 1951 | $3,600 | 1.50% | 1.50% | 24.6 | 25.4 | -3.1% | |||
| 1952 | $3,600 | 1.50% | 1.50% | 12.5% | 27.7 | 26.5 | 4.4% | ||
| 1953 | $3,600 | 1.50% | 1.50% | 27.7 | 26.6 | 4.1% | |||
| 1954 | $4,200 | 2.00% | 2.00% | 13.0% | 31.3 | 26.9 | 16.3% | ||
| 1955 | $4,200 | 2.00% | 2.00% | 31.3 | 26.7 | 17.1% | |||
| 1956 | $4,200 | 2.00% | 2.00% | 31.3 | 26.8 | 16.7% | |||
| 1957 | $4,200 | 2.00% | 0.25% | 2.25% | 31.3 | 27.6 | 13.3% | ||
| 1958 | $4,200 | 2.00% | 0.25% | 2.25% | 31.3 | 28.6 | 9.4% | ||
| 1959 | $4,800 | 2.25% | 0.25% | 2.50% | 7.0% | 33.5 | 29.0 | 15.4% | |
| 1960 | $4,800 | 2.75% | 0.25% | 3.00% | 33.5 | 29.3 | 14.2% | ||
| 1961 | $4,800 | 2.75% | 0.25% | 3.00% | 33.5 | 29.8 | 12.3% | ||
| 1962 | $4,800 | 2.88% | 0.25% | 3.13% | 33.5 | 30.0 | 11.6% | ||
| 1963 | $4,800 | 3.38% | 0.25% | 3.63% | 33.5 | 30.4 | 10.1% | ||
| 1964 | $4,800 | 3.38% | 0.25% | 3.63% | 33.5 | 30.9 | 8.3% | ||
| 1965 | $4,800 | 3.38% | 0.25% | 3.63% | 7.0% | 35.8 | 31.2 | 14.8% | |
| 1966 | $6,600 | 3.50% | 0.35% | 0.35% | 4.20% | 35.8 | 31.8 | 12.6% | |
| 1967 | $6,600 | 3.55% | 0.35% | 0.50% | 4.40% | 35.8 | 32.9 | 8.8% | |
| 1968 | $7,800 | 3.33% | 0.48% | 0.60% | 4.40% | 13.0% | 40.5 | 34.1 | 18.7% |
| 1969 | $7,800 | 3.73% | 0.48% | 0.60% | 4.80% | 40.5 | 35.6 | 13.7% | |
| 1970 | $7,800 | 3.65% | 0.55% | 0.60% | 4.80% | 15.0% | 46.5 | 37.8 | 23.1% |
| 1971 | $7,800 | 4.05% | 0.55% | 0.60% | 5.20% | 10.0% | 51.2 | 39.8 | 28.6% |
| 1972 | $9,000 | 4.05% | 0.55% | 0.60% | 5.20% | 20.0% | 61.4 | 41.1 | 49.4% |
| 1973 | $10,800 | 4.30% | 0.55% | 1.00% | 5.85% | 61.4 | 42.6 | 44.2% | |
| 1974 | $13,200 | 4.38% | 0.58% | 0.90% | 5.85% | 11.0% | 68.2 | 46.6 | 46.3% |
| 1975 | $14,100 | 4.38% | 0.58% | 0.90% | 5.85% | 8.0% | 73.6 | 52.1 | 41.3% |
| 1976 | $15,300 | 4.38% | 0.58% | 0.90% | 5.85% | 6.4% | 78.3 | 55.6 | 40.9% |
| 1977 | $16,500 | 4.38% | 0.58% | 0.90% | 5.85% | 5.9% | 83.0 | 58.5 | 41.8% |
| 1978 | $17,700 | 4.28% | 0.78% | 1.00% | 6.05% | 6.5% | 88.4 | 62.5 | 41.4% |
| 1979 | $22,900 | 4.33% | 0.75% | 1.05% | 6.13% | 9.9% | 97.1 | 68.3 | 42.2% |
| 1980 | $25,900 | 4.52% | 0.56% | 1.05% | 6.13% | 14.3% | 111.0 | 77.8 | 42.7% |
| 1981 | $29,700 | 4.70% | 0.65% | 1.30% | 6.65% | 11.2% | 123.4 | 87.0 | 41.9% |
| 1982 | $32,400 | 4.58% | 0.83% | 1.30% | 6.70% | 7.4% | 132.6 | 94.3 | 40.6% |
| 1983 | $35,700 | 4.78% | 0.63% | 1.30% | 6.70% | 3.5% | 137.2 | 97.8 | 40.3% |
| 1984 | $37,800 | 5.20% | 0.50% | 1.30% | 7.00% | 3.5% | 142.0 | 101.9 | 39.4% |
| 1985 | $39,600 | 5.20% | 0.50% | 1.35% | 7.05% | 3.1% | 146.4 | 105.5 | 38.8% |
| 1986 | $42,000 | 5.20% | 0.50% | 1.45% | 7.15% | 1.3% | 148.3 | 109.6 | 35.3% |
| 1987 | $43,800 | 5.20% | 0.50% | 1.45% | 7.15% | 4.2% | 154.5 | 111.2 | 39.0% |
| 1988 | $45,000 | 5.53% | 0.53% | 1.45% | 7.51% | 4.0% | 160.7 | 115.7 | 38.9% |
| 1989 | $48,000 | 5.53% | 0.53% | 1.45% | 7.51% | 4.7% | 168.3 | 121.1 | 39.0% |
| 1990 | $51,300 | 5.60% | 0.60% | 1.45% | 7.65% | 5.4% | 177.4 | 127.4 | 39.2% |
| 1991 | $53,400 | 5.60% | 0.60% | 1.45% | 7.65% | 3.7% | 183.9 | 134.6 | 36.6% |
| 1992 | $55,500 | 5.60% | 0.60% | 1.45% | 7.65% | 3.0% | 189.4 | 138.1 | 37.2% |
| 1993 | $57,600 | 5.60% | 0.60% | 1.45% | 7.65% | 2.6% | 194.4 | 142.6 | 36.3% |
| 1994 | $60,600 | 5.26% | 0.94% | 1.45% | 7.65% | 2.8% | 199.8 | 146.2 | 36.7% |
| 1995 | $61,200 | 5.26% | 0.94% | 1.45% | 7.65% | 2.6% | 205.0 | 150.3 | 36.4% |
| 1996 | $62,700 | 5.26% | 0.94% | 1.45% | 7.65% | 2.9% | 211.0 | 154.4 | 36.6% |
| 1997 | $65,400 | 5.35% | 0.85% | 1.45% | 7.65% | 2.1% | 215.4 | 159.1 | 35.4% |
| 1998 | $68,400 | 5.35% | 0.85% | 1.45% | 7.65% | 1.3% | 218.2 | 161.6 | 35.0% |
| 1999 | $72,600 | 5.35% | 0.85% | 1.45% | 7.65% | 2.4% | |||
| 2000 | $76,200 | 5.30% | 0.90% | 1.45% | 7.65% | N/A | |||
