WA Cares: lifetime premiums vs. the maximum benefit, by wage

Over a 40-year career, a worker pays 0.58% of wages with no cap, while the benefit is capped at $36,500. Inflation-adjusted premiums exceed the cap above a career-average wage of about $157,300; counting the fund's 4% assumed return and a benefit used at 85, premiums exceed the benefit's value above about $82,600. A median Washington earner ($62,990) pays about $14,600 in inflation-adjusted premiums.

career_average_wagedollarsseries
200004640Career premiums, inflation-adjusted
200003485Career premiums, present value at 4%
2000036500Maximum benefit
2000014398Maximum benefit, present value if used at 85
300006960Career premiums, inflation-adjusted
300005227Career premiums, present value at 4%
3000036500Maximum benefit
3000014398Maximum benefit, present value if used at 85
400009280Career premiums, inflation-adjusted
400006969Career premiums, present value at 4%
4000036500Maximum benefit
4000014398Maximum benefit, present value if used at 85
5000011600Career premiums, inflation-adjusted
500008711Career premiums, present value at 4%
5000036500Maximum benefit
5000014398Maximum benefit, present value if used at 85
6000013920Career premiums, inflation-adjusted
6000010454Career premiums, present value at 4%
6000036500Maximum benefit
6000014398Maximum benefit, present value if used at 85
7000016240Career premiums, inflation-adjusted
7000012196Career premiums, present value at 4%
7000036500Maximum benefit
7000014398Maximum benefit, present value if used at 85
8000018560Career premiums, inflation-adjusted
8000013938Career premiums, present value at 4%
8000036500Maximum benefit
8000014398Maximum benefit, present value if used at 85
9000020880Career premiums, inflation-adjusted
9000015681Career premiums, present value at 4%
9000036500Maximum benefit
9000014398Maximum benefit, present value if used at 85
10000023200Career premiums, inflation-adjusted
10000017423Career premiums, present value at 4%
10000036500Maximum benefit
10000014398Maximum benefit, present value if used at 85
11000025520Career premiums, inflation-adjusted
11000019165Career premiums, present value at 4%
11000036500Maximum benefit
11000014398Maximum benefit, present value if used at 85
12000027840Career premiums, inflation-adjusted
12000020907Career premiums, present value at 4%
12000036500Maximum benefit
12000014398Maximum benefit, present value if used at 85
13000030160Career premiums, inflation-adjusted
13000022650Career premiums, present value at 4%
13000036500Maximum benefit
13000014398Maximum benefit, present value if used at 85
14000032480Career premiums, inflation-adjusted
14000024392Career premiums, present value at 4%
14000036500Maximum benefit
14000014398Maximum benefit, present value if used at 85
15000034800Career premiums, inflation-adjusted
15000026134Career premiums, present value at 4%
15000036500Maximum benefit
15000014398Maximum benefit, present value if used at 85
16000037120Career premiums, inflation-adjusted
16000027877Career premiums, present value at 4%
16000036500Maximum benefit
16000014398Maximum benefit, present value if used at 85
17000039440Career premiums, inflation-adjusted
17000029619Career premiums, present value at 4%
17000036500Maximum benefit
17000014398Maximum benefit, present value if used at 85
18000041760Career premiums, inflation-adjusted
18000031361Career premiums, present value at 4%
18000036500Maximum benefit
18000014398Maximum benefit, present value if used at 85
19000044080Career premiums, inflation-adjusted
19000033103Career premiums, present value at 4%
19000036500Maximum benefit
19000014398Maximum benefit, present value if used at 85
20000046400Career premiums, inflation-adjusted
20000034846Career premiums, present value at 4%
20000036500Maximum benefit
20000014398Maximum benefit, present value if used at 85
21000048720Career premiums, inflation-adjusted
21000036588Career premiums, present value at 4%
21000036500Maximum benefit
21000014398Maximum benefit, present value if used at 85
22000051040Career premiums, inflation-adjusted
22000038330Career premiums, present value at 4%
22000036500Maximum benefit
22000014398Maximum benefit, present value if used at 85
23000053360Career premiums, inflation-adjusted
23000040073Career premiums, present value at 4%
23000036500Maximum benefit
23000014398Maximum benefit, present value if used at 85
24000055680Career premiums, inflation-adjusted
24000041815Career premiums, present value at 4%
24000036500Maximum benefit
24000014398Maximum benefit, present value if used at 85
25000058000Career premiums, inflation-adjusted
25000043557Career premiums, present value at 4%
25000036500Maximum benefit
25000014398Maximum benefit, present value if used at 85
26000060320Career premiums, inflation-adjusted
26000045300Career premiums, present value at 4%
26000036500Maximum benefit
26000014398Maximum benefit, present value if used at 85
27000062640Career premiums, inflation-adjusted
27000047042Career premiums, present value at 4%
27000036500Maximum benefit
27000014398Maximum benefit, present value if used at 85
28000064960Career premiums, inflation-adjusted
28000048784Career premiums, present value at 4%
28000036500Maximum benefit
28000014398Maximum benefit, present value if used at 85
29000067280Career premiums, inflation-adjusted
29000050526Career premiums, present value at 4%
29000036500Maximum benefit
29000014398Maximum benefit, present value if used at 85
30000069600Career premiums, inflation-adjusted
30000052269Career premiums, present value at 4%
30000036500Maximum benefit
30000014398Maximum benefit, present value if used at 85

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