Social Security Earnings Limit 2024 Increase

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Social Security Earnings Limit 2024 Increase. In 2023, you paid social security taxes on work income up to $160,200. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.


Social Security Earnings Limit 2024 Increase

If an increase is due, we calculate your new benefit amount and pay the increase retroactive to january following the year of earnings. However, if you’ll be reaching full retirement age by the end of the year and aren’t there yet, that limit is $59,520.

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