percent of the wages received by such employee with respect to such employment, to the extent that such wages do not exceed, for such calendar year, the contribution and benefit base for such calendar year under section 230 of the Social Security Act . (9) S.A.F.E. account The term S.A.F.E. account has the meaning provided in section 222(c) of the Internal Revenue Code of 1986. (10) Self-employment income The term self-employment income has the meaning provided in section 211(b) of the Social Security Act . (11) Wages The term wages has the meaning provided in section 209 of the Social Security Act . 102. S.A.F.E. account payroll deduction programs (a) In general Each person who is a covered employer for any calendar year shall have in effect throughout such calendar year a S.A.F.E. account payroll deduction program for such person’s employees who are eligible individuals. (b) Requirements For purposes of this Act, the term S.A.F.E. account payroll deduction program means a written program maintained by a covered employer if— (1) under such program, the prescribed employee contribution is deducted from the wages of each employee who is an eligible individual and paid as a contribution on behalf of the employee to a S.A.F.E. account of such employee designated in accordance with section 103, (2) under such program, the covered employer— (A) makes timely payment of the amount so deducted as a contribution to the designated S.A.F.E. account, and (B) effective upon receipt from the eligible individual of certification (in accordance with regulations which shall be prescribed by the Commissioner of Social Security) of the commencement of the 16th calendar year for which the eligible employee’s election under section 105 has been in effect, makes timely payment, together with the amount so deducted, of the prescribed employer contribution with respect to the eligible individual, under regulations of the Commissioner of Social Security applying the same principles relating to the timeliness of payment as are applicable