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1. • • Work credits (quarters of coverage), 2008: $1,050 in earnings equals 1 credit $4,200 in earnings qualifies for the maximum of 4 credits
     www.ssa.gov › policy › docs

     Fast Facts & Figures About Social Security, 2008

2. People also ask

   How does the wage base limit affect Social Security benefits?

   • The wage base limit plays a determining role in the maximum Social Security benefit a recipient could receive. A retiree would receive the maximum Social Security benefit only if he or she earns and pays taxes on income equal to the wage base limit for a full 35 years.

   How the Wage Base Limit Affects Your Social Security

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   What is the Social Security wage base limit?

   • The wage base limit changes every year. For 2019, the wage base limit is $132,900. You can find the current year's wage base limit on the Social Security Administration website. The table below also shows the wage base limit for the past several years. Table source: Social Security Administration.

   How the Wage Base Limit Affects Your Social Security

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   How much Social Security tax can a worker owe a year?

   • Because of the wage base limit, there is a maximum amount of Social Security tax a worker could potentially pay each year. Since the wage base limit in 2019 is $132,900, the maximum Social Security tax a worker would pay is $8,239.80. The table below shows the maximum Social Security tax owed each year based on the relevant year's wage base limit.

   How the Wage Base Limit Affects Your Social Security

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   What is a wage base limit?

   • The wage base limit is set annually and is adjusted based on changes in the average wage index. This adjustment ensures that the wage base limit keeps pace with wage growth. The wage base limit is also the annual limit on the amount of your wages that count when your Social Security benefits are determined.

   How the Wage Base Limit Affects Your Social Security

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3. financialducksinarow.com › social-security-maximumSocial Security Maximum Taxable Earnings - Financial Ducks In ...

   financialducksinarow.com › social-security-maximum

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   2008. $102,000. 2009-2011. $106,800. 2012. $110,100. 2013. $113,700. 2014.

4. www.ssa.gov › OACT › COLAContribution and Benefit Base - The United States Social ...

   www.ssa.gov › OACT › COLA

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   This limit changes each year with changes in the national average wage index. We call this annual limit the contribution and benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2024, this base is $168,600. The OASDI tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and ...

5. www.ssa.gov › pressoffice › factsheets2008 SOCIAL SECURITY CHANGES - The United States Social ...

   www.ssa.gov › pressoffice › factsheets

   o Retirement Earnings Test Exempt Amounts: Under full retirement age $12,960/yr. ($1,080/mo.) $13,560/yr. ($1,130/mo.) NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit. The year an individual reaches full $34,440/yr. $36,120/yr. retirement age ($2,870/mo.) ($3,010/mo.)

6. www.ssa.gov › OP_Home › handbookSSA Handbook § 1301 - The United States Social Security ...

   www.ssa.gov › OP_Home › handbook

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   Feb 11, 2013 · Maximum Earnings. Year. Maximum Earnings. 2013. $113,700. 1988. $45,000. 2012. $110,100. 1987. $43,800. 2011. $106,800. 1986. $42,000. 2010. $106,800. 1985. $39,600. 2009. $106,800. 1984. $37,800. 2008. $102,000. 1983. $35,700. 2007. $97,500. 1982. $32,400. 2006. $94,200. 1981. $29,700. 2005. $90,000. 1980. $25,900. 2004. $87,900. 1979. $22,900 ...

   Year	Maximum Earnings	Year	Maximum Earnings
   2013	$113,700	1988	$45,000
   2012	$110,100	1987	$43,800
   2011	$106,800	1986	$42,000
   2010	$106,800	1985	$39,600

   See full list on ssa.gov

7. www.taxpolicycenter.org › sites › defaultHistorical Social Security Tax Rates, 1937 to 2022 [1]

   www.taxpolicycenter.org › sites › default

   1963 $4,800 7.25% - 2008 $102,000 12.4% 2.9% 1964 $4,800 7.25% - 2009 $106,800 12.4% 2.9% 1965 $4,800 7.25% - 2010 $106,800 12.4% 2.9% 1966 $6,600 7.7% 0.7% 2011 [5] $106,800

8. en.wikipedia.org › wiki › Social_Security_Wage_BaseSocial Security Wage Base - Wikipedia

   en.wikipedia.org › wiki › Social_Security_Wage_Base

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   Wage Base Increase Maximum Social Security Employee Share Maximum Social Security Employer Share Maximum Total Contribution to Social Security 2024: $168,600: 5.2%: $10,453.20: $10,453.20: $20,906.40 2023: $160,200: 9.0%: $9,932.40: $9,932.40: $19,864.80 2022: $147,000: 2.9%: $9,114.00: $9,114.00: $18,228.00 2021: $142,800: 3.7%: $8,853.60 ...

9. www.fool.com › retirement › how-wage-base-limit-setsHow the Wage Base Limit Affects Your Social Security

   www.fool.com › retirement › how-wage-base-limit-sets

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   Aug 13, 2019 · This means workers pay 6.2% and employers pay 6.2%. Because of the wage base limit, there is a maximum amount of Social Security tax a worker could potentially pay each year. Since the wage...