Titanic Facts: The Ship. White Star Line was the company that built the Titanic, and was owned by J.P. Morgan, an American tycoon. The cost to build the RMS Titanic was $7.5 million. RMS stands for Royal Mail Steamer. It took 3,000 men two years to build the Titanic.
Workers and employers pay for Social Security. Workers pay 6.2 percent of their earnings up to a cap, which is $118,500 a year in 2015. (The cap on taxable earnings usually rises each year with average wages.) Employers pay a matching amount for a combined contribution of 12.4 percent of earnings.
If you worked for 25 years and made $75,000 per year, your monthly payment would be around $1,560, according to the formula. Social Security. Unlike some public pension plans, employees covered under FERS pay into the Social Security fund at the same rate as private employees. In 2013, anybody paying into Social Security will pay 6.2% of earnings with the agency matching the contribution.