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Current 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Senior's Earning Limit Repealed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 2003

Maximum annual wage subject to Social Security tax: $87,000

Maximum annual wage that someone
under 65 can earn without a reduction
of Social Security benefits: $11,520

Other Changes That Are New For 2003

Cost Of Living Adjustement (COLA): 1.4%

2001 Average Wage: $32,921.92

Dollar Amounts (Bend Points) In PIA Formula -
First: 606
Second: 3,653

 

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