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Scott Burns

The McJobs/Retiree Exchange Rate
 
Notes
Your Monthly Social Security benefit $ 1
The McJobs wage rate $ 2
Employment tax per hour $ 3
Hours of work to produce benefit  
Full Time Workers to Produce Benefit 4
 
  1. Recent average Social Security workers monthly benefit $926.90. The current maximum monthly benefit, at full retirement age, is $1,798.

  2. Minimum wage is $5.15, wage base max is $43.95

  3. Based on 12.4% of wage rate

  4. The current worker to retiree ratio is about 3. It will decline to about 2.15 by 2040.

Source: Social Security
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© Scott Burns, The Dallas Morning News 2005

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Scott Burns