Social Security Wage Limit 2024 History

Social Security Wage Limit 2024 History. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. In 2024, the social security tax limit is set at $168,600, a notable increase from the $160,200 limit in 2023.

We illustrate the calculation of retirement benefits using two examples, labeled case a and case b. That means that the maximum amount of social security tax an employee will.