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2002 Social Security Wage Limits

 
THE WAY BENEFITS ARE COMPUTED NOW:
Overview
Limitations
Step 1 - Find The Normal Retirement Age
Step 2 - Calculate The Average Indexed Monthly Earnings
Step 3 - Calculate The PIA
Step 4 - Retirement Benefits For A Spouse
Current Year Wage & Benefits Maximums
Senior's Earning Limit Repealed

Wage Limits For Year 2002

Maximum annual wage subject to Social Security tax: $84,900

Maximum annual wage that someone
under 65 can earn without a reduction
of Social Security benefits: $11,280

Other Changes That Are New For 2002

Cost Of Living Adjustement (COLA): 2.6%

2000 Average Wage: $32,154.82

Dollar Amounts (Bend Points) In PIA Formula -
First: 592
Second: 3,567

 

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