2024 Max Social Security Tax By Year To Date
In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600. Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023.
If you retire at 62, your maximum benefit will be $2,710 and if you retire at full retirement age in 2024 your maximum benefit is $3,822, the ssa says. We call this annual limit the contribution and benefit base.