Table of Contents
How much was Social Security in 2001?
SSI Federal Payment Standard:
| SSI Federal Payment Standard: | 2000 | 2001 |
|---|---|---|
| Individual (rates adjusted to reflect Consumer Price Index Fix) | $513/mo. | $531/mo. |
| Couple | $769/mo. | $796/mo. |
What is the historical Social Security tax rate?
6.2%
Historical FICA Tax Information
| Year | Social Security |
|---|---|
| 2017 | 6.2% on first $127,200 |
| 2015-2016 | 6.2% on first $118,500 |
| 2014 | 6.2% on first $117,000 |
| 2013 | 6.2% on first $113,700 |
How much did I pay into Social Security?
6.2 percent
Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $142,800 (in 2021), while the self-employed pay 12.4 percent.
What was the maximum Social Security in 2000?
Worker with steady earnings at the maximum level since age 22
| Retirement in Jan. | Retirement at age 62 a | Retirement at age 70 e |
|---|---|---|
| AIME | Monthly benefits | |
| 2000 | 4,775 | 2,870 |
| 2001 | 5,126 | 2,973 |
| 2002 | 5,499 | 3,066 |
How much and what percent of 2002 outlays go to entitlements?
As a percentage of total federal expenditures, in 2002 Social Security benefits were approximately 22.6% of federal expenditures.
When did Social Security get paid?
Here’s how it works: If the birthday is on the 1st through the 10th, you are paid on the second Wednesday of each month. If the birthday is on the 11th through the 20th, you are paid on the third Wednesday of the month. If the birthday is on the 21st through the 31st, you are paid on the fourth Wednesday of the month.
What was Social Security tax in 1970?
Social Security & Medicare Tax Rates
| Calendar year | Tax rates as a percent of taxable earnings | |
|---|---|---|
| Rate for employees and employers, each | ||
| 1967 | 3.900 | 0.500 |
| 1968 | 3.800 | 0.600 |
| 1969-70 | 4.200 | 0.600 |
Is Social Security taxed after age 72?
Yes. The rules for taxing benefits do not change as a person gets older. Whether or not your Social Security payments are taxed is determined by your income level — specifically, what the Internal Revenue Service calls your “provisional income.”
What was the full retirement age in 2002?
Who Is Affected by Increases in Social Security’s Full Benefit Age?
| People born in: | And reaching age 62 in: | Can claim unreduced benefits at age: |
|---|---|---|
| 1939 | 2001 | 65, 4 months |
| 1940 | 2002 | 65, 6 months |
| 1941 | 2003 | 65, 8 months |
| 1942 | 2004 | 65, 10 months |