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2005 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Senior's Earning Limit Repealed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 2005

Maximum annual wage subject to Social Security tax: $90,000

Maximum annual wage that someone
under 65 can earn without a reduction
of Social Security benefits: $12,000

Other Changes That Are New For 2005

Cost Of Living Adjustement (COLA): 2.7%

2003 Average Wage: $34,064.95

Dollar Amounts (Bend Points) In PIA Formula -
First: 627
Second: 3,779

 

How to increase your Social Security Retirement Benefits

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