Contributions Already Paid

Impact on Value of Contributions Already Paid

If you are wondering what is the impact on the contributions you have already paid, then, to put it simply, the cash value of all of those contributions are adjusted to the present day value.

For example, contributions paid in Class VIII in 1972 were worth $7.35 then. Based on the current Actuarial Review those contribution now relate to the new earnings Class I which is valued at $16.80 in January 2008 and will be worth $18.24 by 1212 when the final contribution rate adjustment will take place.

A broad look at how the Earnings Classes have been converted can be seen below:

After Jan 7, 2008	Earnings Class Prior to Aug 11, 1980	Earnings Class from Aug 11 1980 - May 2, 1999	Earnings Class from May 3, 1999 - January 4, 2010	(Joint Weekly) Contribution Value After Jan 7, 2008	(Joint Weekly) Contribution Value After 04 January 2010	(Joint Weekly) Contribution Value After 02 January 2012
Class I	Classes I-VI	Classes I-VI	Class I	16.80	17.28	18.24
Class II	Classes II	Classes V	Class II	24.68	25.38	26.79
Class III	Classes III	Classes VI	Class III	33.08	34.02	35.91
Class IV		Classes VII	Class IV	42.53	43.74	46.17
Class V		Classes VIII	Class V	52.50	54.00	57.00
Class VI			Class VI	63.53	65.34	68.97
Class VII			Class VII	75.08	77.22	81.51
Class VIII			Class VIII	86.63	89.10	94.05
Class IX			Class IX	99.23	102.06	107.73
Class X			Class X	112.35	115.56	121.98
Class XI			Class XI	125.48	129.06	136.23
Class XII			Class XII	139.65	143.64	151.62
Class XIII				154.88	159.30	168.15
Class XIV				171.68	176.58	186.39
Class XV				190.84	196.29	207.20
Class XVI				201.08	206.82	218.31