This preview shows page 1. Sign up to view the full content.
Unformatted text preview: increased each year. In 1974, $13,200 for a total of $1,155.00 credited the year. In 1975, $14,100 for a total $1,233.75 credited for the year. In 1976, $15,300 for a total of $1,338.75 credited for the year. In 1977, $16,500 for a total of $1,443.75 for the year. In 1978, the OASI tax rate was lowered to 4.275% with a maximum earnings taxed of $17,700 for a total of $1,513.35 credited for the year. In 1979, the maximum earnings taxed climbed to $22,900 with an increase in the retirement tax rate to 4.33%. Employee and employer contributions totaled $1983.14. 27...
View Full Document
- Fall '10