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Automatic Increases
Coverage thresholds
Wage-indexed amounts
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Domestic employee coverage threshold for 2008
Public Law 103-387 established the domestic employee
coverage threshold amounts for 1994 and 1995 and provided for automatic
increases thereafter. Under this law, the threshold for 2008
shall be equal to the 1995 amount
of $1,000 multiplied by the ratio of the national
average wage index for 2006 to that for 1993. If the amount
so determined is not a multiple of $100, it is rounded to the next lower
multiple of $100.
Calculation details
Amounts in
formula |
1995 threshold | $1,000 |
| 1993 average wage index | $23,132.67 |
| 2006 average wage index | $38,651.41 |
| Computation | $1,000 times $38,651.41
divided by $23,132.67 equals $1,670.86, which
rounds down to $1,600. |
Election worker coverage threshold for 2008
Public Law 103-296 established the election worker coverage threshold
amounts for 1995-99 and provided for automatic increases thereafter.
Under this law, the threshold amount for 2008 shall be equal
to the 1999 amount of $1,000 multiplied by the ratio of the
national average wage index for 2006
to that for 1997. If the amount so determined is not a multiple of
$100, it is rounded to the nearest multiple of $100.
Calculation details
Amounts in
formula |
1999 threshold | $1,000 |
| 1997 average wage index | $27,426.00 |
| 2006 average wage index | $38,651.41 |
| Computation | $1,000 times $38,651.41
divided by $27,426.00 equals $1,409.30,
which rounds to $1,400. |
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www.socialsecurity.gov
