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The Social Security Fairness Act (SSFA), which was recently signed into law by former president Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income from ...
The Windfall Elimination Provision affects people who qualify for Social Security benefits through their job but also receive a pension from another job where they didn't pay into Social Security.
In a move that could significantly impact the retirement income of millions of Americans, a bipartisan group of U.S. lawmakers is pushing to repeal a set of Social Security rules that reduce ...
This limit is the highest income subject to Social Security taxes, and you'll need to consistently reach this cap to earn the maximum possible benefit amount. In 2024, the limit is $168,600 per year.
In 2023, the threshold rises to $160,200, meaning neither you nor your employer will have to pay Social Security taxes on any income above that level. Social Security Earnings Limits Increase for ...
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
The big news for 2023 is an 8.7% jump in the Social Security COLA, which is the highest since an 11.2% increase in 1981. The COLA’s steep hike this year is due to the soaring inflation rate ...
The increase in 2025 will perhaps have the biggest impact on those earning between $168,600 and $176,100 per year, as you'll face Social Security tax on income that wasn't previously taxed in 2024.