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Table II.E2. - Cost-of-Living Benefit Increases, Average Wage Index Increases, OASDI Contribution and Benefit Bases, and Retirement Earnings Test Exempt Amounts, 1975-2005
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Retirement earnings
Increase OASDI test exempt amount
OASDI in average contri- -------------------------
benefit wage bution and Ages
increases 1/ index 2/ benefit Under 65 and
Calendar year (percent) (percent) base 3/ age 65 over 4/
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Historical data:
1975......... 8.0 7.5 $14,100 $2,520 $2,520
1976......... 6.4 6.9 15,300 2,760 2,760
1977......... 5.9 6.0 16,500 3,000 3,000
1978......... 6.5 7.9 17,700 3,240 5/ 4,000
1979......... 9.9 8.7 5/ 22,900 3,480 5/ 4,500
1980......... 14.3 9.0 5/ 25,900 3,720 5/ 5,000
1981......... 11.2 10.1 5/ 29,700 4,080 5/ 5,500
1982......... 7.4 5.5 32,400 4,440 5/ 6,000
1983......... 3.5 4.9 35,700 4,920 6,600
1984......... 3.5 5.9 37,800 5,160 6,960
1985......... 3.1 4.3 39,600 5,400 7,320
1986......... 1.3 3.0 42,000 5,760 7,800
1987......... 4.2 6.4 43,800 6,000 8,160
1988......... 4.0 4.9 45,000 6,120 8,400
1989......... 4.7 4.0 48,000 6,480 8,880
1990......... 5.4 4.6 51,300 6,840 9,360
1991......... 3.7 3.7 53,400 7,080 9,720
1992......... 3.0 5.2 55,500 7,440 10,200
1993......... 2.6 .9 57,600 7,680 10,560
1994......... 2.8 2.7 60,600 8,040 11,160
1995......... 2.6 6/ 3.9 61,200 8,160 11,280
Intermediate:
1996......... 2.9 3.9 7/ 62,700 7/ 8,280 5/ 12,500
1997......... 3.2 4.2 65,100 8,640 5/ 13,500
1998......... 3.3 3.9 67,800 9,000 5/ 14,500
1999......... 3.4 4.2 70,500 9,360 5/ 15,500
2000......... 3.5 4.2 73,500 9,720 5/ 17,000
2001......... 3.7 4.3 76,500 10,080 5/ 25,000
2002......... 3.9 4.5 79,500 10,560 5/ 30,000
2003......... 4.0 4.8 83,100 11,040 31,320
2004......... 4.0 4.9 86,700 11,520 32,760
2005......... 4.0 5.0 90,900 12,120 34,320
Low Cost:
1996......... 2.5 4.0 7/ 62,700 7/ 8,280 5/ 12,500
1997......... 2.9 4.5 65,400 8,640 5/ 13,500
1998......... 3.0 4.4 67,800 9,000 5/ 14,500
1999......... 3.0 4.6 70,800 9,360 5/ 15,500
2000......... 3.0 4.5 74,100 9,840 5/ 17,000
2001......... 3.0 4.4 77,400 10,320 5/ 25,000
2002......... 3.0 4.4 81,000 10,680 5/ 30,000
2003......... 3.0 4.5 84,300 11,160 31,320
2004......... 3.0 4.5 88,200 11,760 32,760
2005......... 3.0 4.6 92,100 12,240 34,200
High Cost:
1996......... 2.8 3.1 7/ 62,700 7/ 8,280 5/ 12,500
1997......... 3.2 3.5 64,800 8,640 5/ 13,500
1998......... 5.8 5.3 66,900 8,880 5/ 14,500
1999......... 5.1 4.4 69,300 9,240 5/ 15,500
2000......... 4.5 4.7 72,900 9,720 5/ 17,000
2001......... 5.0 5.1 76,200 10,080 5/ 25,000
2002......... 5.0 4.9 79,800 10,560 5/ 30,000
2003......... 5.0 5.1 84,000 11,160 31,560
2004......... 5.0 5.3 87,900 11,640 33,120
2005......... 5.0 5.4 92,400 12,240 34,800
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1/ Effective with benefits payable for June in each year 1975-82, and for
December in each year after 1982.
2/ Increase in the average wage index from prior year to the year shown. See
footnote 6 below and table III.B1 for projected dollar amounts of the average
wage index.
3/ The bases for years after 1989 were increased slightly by changes to the
indexing procedure, as required by Public Law 101-239. Prior to 1991, the
Hospital Insurance (HI) contribution base was the same as the OASDI contribu-
tion and benefit base. Higher HI bases of $125,000, $130,200, and $135,000
applied for 1991-93, respectively. Public Law 103-66 repealed the HI contribu-
tion base.
4/ In 1955-82, the retirement earnings test did not apply at ages 72 and over;
beginning in 1983, it does not apply at ages 70 and over.
5/ Amounts for 1978-82 specified by Public Law 95-216; for 1996-2002, Public Law
104-121.
6/ Based on an estimated average wage index of $24,669.85 for 1995.
7/ Actual amount, as determined and announced in October 1995.
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