Maximum Social Security Tax In 2024. We raise this amount yearly to keep pace with increases in average wages. For example, if you retire at full retirement age in 2024, your maximum benefit would be $3,822.
For example, if you retire at full retirement age in 2024, your maximum benefit would be $3,822. Itโs $4,873 per month if retiring at 70 and $2,710 for retirement at 62.
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So, if you earned more than $160,200 this last year, you didn't have to.
Thus, An Individual With Wages Equal To Or Larger Than $168,600.
The initial benefit amounts shown in the table below assume retirement in january of the stated.
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For earnings in 2024, this base.
The Highest Benefit For Those Who Qualify And Delay.
For employees, the maximum social security tax in 2024 is the product of the tax rate (6.2%) and the maximum taxable earnings ($147,000).