2024 Social Security Wage Max

2024 Social Security Wage Max. Using the “intermediate” projections, the board projects the social security wage base will be $167,700 in 2024 (up from $160,200 this year) and will increase to $230,100 by. In 2024, retirees receiving social security benefits will be able to earn $59,520 in the year they reach full retirement age before their benefits are reduced by $1 for every $3 in.

Wealthier taxpayers will have more social security tax taken from their paychecks this year due to a wage base increase. The maximum social security contribution in 2024 is $10,453.20 ($168,600 x 0.062).