Social Security Wage Base 2024 Projection Lines. Wage indexing depends on the year in which a person is first eligible to receive benefits. The 2024 limit is $168,600, up from $160,200 in 2023.
So, you’re looking at a potential $7,500 increase in the taxable wage base from this year to next. The 2024 limit is $168,600, up from $160,200 in 2023.
For retirement, eligibility is at age 62.
So if a person reaches age 62 in 2024, then 2024.
The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each.
The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200.
