Social Security Figures At-a-Glance


2019 2018
Social Security Cost-of-living adjustment (COLA)

For Social Security and Supplemental Security Income (SSI) beneficiaries
2.80% 2%
Tax rate

FICA tax--Employee
7.65% 7.65%
Social Security (OASDI) portion of tax
6.20% 6.20%
Medicare (HI) portion of tax
1.45% 1.45%
Self-Employed
15.30% 15.30%
Social Security (OASDI) portion of tax
12.40% 12.40%
Medicare (HI) portion of tax
2.90% 2.90%
Maximum taxable earnings

Social Security (OASDI only)
$132,900 $128,400
Medicare (HI only)
No limit No limit
Quarter of coverage

Earnings required
$1,360 $1,320
Retirement earnings test--exempt amounts

Under full retirement age


Benefits reduced by $1 for each $2 earned above:


Yearly figure
$17,640 $17,040
Monthly figure
$1,470 $1,420
Year individual reaches full retirement age


Benefits reduced by $1 for each $3 earned above (applies only to earnings for months prior to attaining full retirement age):


Yearly figure
$46,920 $45,360
Monthly figure
$3,910 $3,780
Beginning the month individual attains full retirement age
No limit on earnings No limit on earnings
Social Security disability thresholds

Substantial gainful activity (SGA): for the sighted (monthly figure)
$1,220 $1,180
Substantial gainful activity: for the blind (monthly figure)
$2,040 $1,970
Trial work period (TWP) (monthly figure)
$880 $850
SSI federal payment standard

Individual (monthly figure)
$771 $750
Couple (monthly figure)
$1,157 $1,125
SSI resource limits

Individual
$2,000 $2,000
Couple
$3,000 $3,000
SSI student exclusion limits

Monthly limit
$1,870 $1,820
Annual limit
$7,550 $7,350
Maximum Social Security benefit

Worker retiring at full retirement age (monthly figure)
$2,861 $2,788
Formula for Monthly Primary Insurance Amount (PIA) (90% of first X of AIME + 32% of the AIME over X and through Y + 15% of AIME over Y) X=$926 Y=$5,583 X=$895 Y=$5,397

©2004 The American Institute of Certified Public Accountants, ISO 9001 Certified.
AICPA Online privacy policies and copyright information. | Using our secure site.
--Site best viewed with browsers version 4, or above--

AICPA, 1211 Avenue of the Americas, New York, NY 10036