Table A -- Individual Account (IA) Contributions for Workers in 2003
DeMint Plan: 8% Contribution Rate: for $1, 3% for Maximum Earnings
Level of
Annual OASDI
Taxable Earnings
 
IA Contribution
as a Percentage
of Earnings
IA Contribution
in Dollar
Amount
$1,000
 
7.94%
$79.43
5,000
 
7.71%
385.63
10,000
 
7.43%
742.53
20,000
 
6.85%
1,370.11
30,000
 
6.28%
1,882.76
40,000
 
5.70%
2,280.46
50,000
 
5.13%
2,563.22
60,000
 
4.55%
2,731.03
70,000
 
3.98%
2,783.91
80,000
 
3.40%
2,721.84
87,000
(Taxable Maximum)
3.00%
2,610.00
 
15,629
(Low 1 = 45% of Average Wage
Index (AWI))
7.10%
1,109.92
34,731
(Medium* = AWI)
6.00%
2,085.22
43,500
(1/2 Taxable Maximum)
5.50%
2,392.50
55,569
(High* = 160% of AWI)
4.81%
2,670.86
69,600
(Maximum Contribution =
0.8 x Taxable Maximum)
4.00%
2,784.00
1 Earnings levels for scaled low, medium, and high workers are average of best 35 years wage indexed earmings.
 
Office of the Chief Actuary
Social Security Administration
September 9, 2003

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